The rally in Canadian equities extended for the fourth straight session on Monday as investors continued to bet that recent rate cuts on both sides of the border would support economic growth. This policy-related optimism, coupled with strong gains in precious metals, drove the S&P/TSX Composite Index up by 191 points, or 0.6%, to another record high of 29,959 — within striking distance of the 30,000 milestone.
Even as some consumer staple stocks saw weakness, continued gains in most other key market sectors, including mining, technology, and financials, kept the TSX rally firmly intact.
Top TSX Composite movers and active stocks
Endeavour Silver, First Majestic Silver, Finning International, and Seabridge Gold were the top-performing TSX stocks, with each jumping by at least 8.9%.
Shares of Air Canada (TSX:AC) also traded positively after the largest Canadian passenger airline announced new U.S. transborder routes and capacity increases for summer 2026. The carrier plans to launch new flights linking Toronto with San Antonio and Montréal with both Cleveland and Columbus, while also boosting service on existing routes.
In a press release, Air Canada said the additions will lift its transborder capacity by 15% compared to summer 2025. The company’s management highlighted that the move is expected to strengthen the airline’s positioning in key U.S. markets and help it cater to rising demand for cross-border travel. On a year-to-date basis, however, Air Canada stock is still down over 14%.
Despite the broader market optimism, goeasy and Constellation Software slid by at least 4.9% each, making them the worst performers on the Toronto Stock Exchange.
Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, Barrick Mining, TC Energy, and Scotiabank were the five most active stocks on the exchange.
TSX today
Commodity prices across the board were mixed in early morning Tuesday trading, with gold holding near record levels, but crude oil remained under pressure. These mixed signals point to a flat opening for the resource-heavy main TSX index today.
While no major economic releases are due this morning, Canadian investors will closely monitor fresh remarks by Bank of Canada governor Tiff Macklem and U.S. Federal Reserve chair Jerome Powell, who are both scheduled to speak in the afternoon. Market participants will be listening for any updated guidance on interest rate policy or economic risks, especially as the TSX hovers just below the psychologically important 30,000 level.
Market movers on the TSX today
