TSX Today: What to Watch for in Stocks on Monday, September 15

After ending a three-day rally, the TSX could trade flat at the open today as markets wait for inflation data and rate updates.

Key Points
  • TSX slipped 0.4% to 29,284, ending a three-day win but still closing its sixth straight positive week.
  • Lundin Gold fell after a CEO transition announcement, while Canadian Natural, Cenovus, Baytex, B2Gold, and TD were the most active stocks.
  • This week, investors will watch BoC and Fed policy decisions and Canada’s consumer inflation report for direction on interest rates and market trends.

Canadian equities trended lower on Friday as investors turned cautious ahead of a big week for monetary policy decisions from the Bank of Canada (BoC) and the U.S. Federal Reserve. The S&P/TSX Composite Index slipped by 124 points, or 0.4%, for the day to settle at 29,284 — ending its three-day winning streak but still closing the sixth consecutive week in positive territory.

Even as strengthening commodity prices drove energy and mining stocks higher, intraday weakness in many other key sectors, including healthcare, technology, and financials, weighed on the broader index. TSX investors appeared to rotate out of rate-sensitive and growth-oriented stocks as they positioned more defensively ahead of central bank announcements.

tsx today

Top TSX Composite movers and active stocks

Lundin Gold (TSX: LUG) dived by 4.4% to $88.14 per share, making it one of the worst-performing TSX stocks for the day. This weakness in LUG stock came a day after the Vancouver-based miner revealed that its long-term CEO Ron Hochstein will step down in November, with Jamie Beck set to lead the company.

It is important to note that investors often react cautiously to CEO transitions, even when they’re planned. Lundin Gold framed the move as a handoff from a “transformative” decade to a new chapter under Beck, who led major discoveries and deals within the Lundin Group. Despite the recent weakness, however, LUG stock is still up 190% on a year-to-date basis.

Energy Fuels, NexGen Energy, and Equinox Gold were also among the day’s bottom performers on the Toronto Stock Exchange, with each falling by at least 2.9%.

Despite the broader market weakness, NuVista Energy, MAG Silver, SECURE Waste Infrastructure, and Paramount Resources climbed by at least 2.5% each, making them the session’s top-performing TSX stocks.

Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, Baytex Energy, B2Gold, and TD Bank were the five most active stocks on the exchange.

TSX today

Commodity prices were largely mixed in early Monday trading, pointing to a flat opening for the resource-heavy main TSX index today.

While no major economic or corporate releases are due this morning, TSX investors may remain cautious ahead of Canada’s consumer inflation report and key policy updates later in the week. Overall, trading activity on the TSX may stay subdued through the session as investors wait for more clarity on inflation trends and the future path of interest rates.

Market movers on the TSX today

Fool contributor Jitendra Parashar has positions in Canadian Natural Resources and Toronto-Dominion Bank. The Motley Fool recommends B2Gold, Canadian Natural Resources, and Secure Waste Infrastructure Corp. The Motley Fool has a disclosure policy.

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