After rising for three consecutive sessions, Canadian stocks turned negative on Friday as investors continued to assess the U.S. Federal Reserve’s latest economic projections, while concerns about the inflated valuations of artificial intelligence (AI)-related stocks triggered some profit-taking. The S&P/TSX Composite Index slipped by 133 points, or 0.4%, for the day to settle at 31,527, though it still ended the week with a gain of 0.7%.
Despite strong gains in the healthcare sector, due mainly to a rally in Curaleaf Holdings (TSX:CURA), big intraday declines in technology and mining stocks pressured the TSX benchmark and led to a modest pullback.
Top TSX Composite movers and active stocks
Celestica, Energy Fuels, NexGen Energy, and First Majestic Silver were the day’s worst-performing TSX stocks, with each slipping by at least 5.3%.
On the brighter side, shares of Curaleaf skyrocketed by nearly 38% to $5.10 apiece, making it the top-performing TSX stock. The surge came after news reports suggested that former U.S. President Donald Trump may soon sign an executive order to ease federal restrictions on marijuana.
Notably, the proposed reclassification of cannabis as a Schedule III drug could significantly reduce regulatory hurdles and pave the way for wider pharmaceutical use. This prospect of regulatory reform lifted investor sentiment across the cannabis sector, leading to a buying spree for Curaleaf stock. On a year-to-date basis, CURA stock is now up 128%.
CAE (TSX:CAE) also climbed by over 5% to $41.06 per share after announcing a major contract win in Australia. The company secured a $270 million deal to deliver a next-generation air mission training system for the Royal Australian Air Force.
The 10-year agreement marks a significant expansion of CAE’s defence training footprint in the Asia-Pacific region, boosting investors’ confidence.
Parex Resources and G Mining Ventures were also among the session’s top gainers on the Toronto Stock Exchange, as they climbed by at least 3.6% each.
Based on their daily trade volume, Curaleaf Holdings, CAE, Parex Resources, G Mining Ventures, and Bombardier were the five most active stocks on the exchange.
TSX today
Commodity prices, especially metals, were largely positive in early morning trading on Monday, which could lift the resource-heavy TSX index at the open today.
In addition to the monthly Empire State Manufacturing Index data from the U.S. market, Canadian investors will closely monitor the important domestic inflation report for November this morning. Bay Street expects inflation to continue trending lower, which could reinforce expectations of rate cuts in 2026 and influence short-term market direction.
Market movers on the TSX today
