TSX Today: What to Watch for in Stocks on Friday, January 16

Firm metals prices and strong U.S. data helped the TSX clear 33,000 for the first time, while today’s focus turns to mixed commodity signals and corporate developments.

Jitendra Parashar

Author Bio Jitendra Parashar is a financial journalist who has been writing for The Motley Fool Canada since June 2020. With more than 13 years of experience in financial journalism, equity research, and market analysis, he helps investors understand market developments and identify long-term investment opportunities. Before joining The Motley Fool Canada, Jitendra spent several years at Market Realist covering U.S. equities, major economic developments, and developments in the automotive and technology industries. He also worked in commodity and currency research at brokerage firms, gaining insight into how economic trends, central bank decisions, and geopolitical events influence financial markets. Jitendra writes for beginner investors, dividend seekers, and Canadians looking to build wealth over the long term. He also contributes to the daily TSX Today series, explaining key Canadian market developments and highlighting news investors should watch. Based in India, Jitendra follows Canadian and U.S. markets closely. Outside of work, he enjoys travelling in the Himalayas, street and nature photography, and exploring programming and artificial intelligence. Education MBA in Finance and International Business Bachelor's degree in Journalism Areas of Expertise Canadian and U.S. financial markets, long-term equity investing, dividend investing, macroeconomic and geopolitical trends, automotive stocks, emerging technologies, and artificial intelligence. Social Media Profiles LinkedIn Muck Rack Favorite Investment Quote “Simplicity is the master key to financial success.” — John C. Bogle

Published January 16, 9:00 am EST

Despite sharp intraday declines in crude oil prices, firm precious metals prices, and far better-than-expected U.S. manufacturing data, eased market jitters on Thursday, allowing Canadian stocks to soar to new heights. The S&P/TSX Composite Index inched up by 112 points, or 0.3%, to settle at 33,029, marking its fifth gain in the past six sessions and closing above the key psychological level of 33,000 for the first time.

Even as overvaluation concerns continued to drive tech stocks lower, solid gains in other main sectors like industrial, real estate, and financial pushed the TSX benchmark further into record territory, reflecting broad-based investor confidence as 2026 kicks into gear.

Top TSX Composite movers and active stocks

Bombardier (TSX: BBD.B) jumped over 7% to $266.20 per share, making it the top-performing TSX stock for the day. The rally came after the Canadian business jet manufacturer revealed a US$100 million investment to build a new 126,000-square-foot manufacturing centre in Dorval.

With the project, Bombardier plans to boost production capacity to support rising global demand for its business jets. The facility is expected to open by the end of 2027 and will create skilled jobs. Notably, Quebec’s government is also backing the expansion plan with a US$35 million repayable loan. So far in January, Bombardier’s stock has risen 14%.

Finning International, MDA Space, and Cogeco Communications were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 3.6%.

In contrast, shares of Alamos Gold (TSX: AGI) plunged 6.2% to $55.98 apiece after the Toronto-based gold producer posted weaker-than-expected production results. The company delivered 141,500 ounces in the fourth quarter, flat from the previous quarter but below guidance, mainly due to severe winter weather and operational challenges at its Canadian mines. Alamos Gold’s full-year production also missed targets, coming in at 545,400 ounces. Despite record revenues and cash flow, the operational shortfall appeared to weigh on investor sentiment.

Aya Gold & Silver, TerraVest Industries, and Constellation Software also plunged by at least 3.3% each, making them among the session’s worst-performing TSX stocks.

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

TSX today

After falling sharply in the previous session, crude oil prices bounced back in early morning trading on Friday. At the same time, metals prices were trending lower. Given these mixed early commodity trends, the TSX could see a relatively flat-to-modestly-higher open today, with energy stocks poised for a rebound while mining shares may face some pressure.

While no major economic releases are due this morning, Canadian investors will continue to monitor global geopolitical developments and corporate news for direction.