Canadian stocks jumped sharply on Friday, before going into the long Family Day weekend, as a cooler-than-expected U.S. consumer inflation report for January raised hopes that the Federal Reserve could cut interest rates further in the near term. This factor, coupled with robust corporate earnings, drove the S&P/TSX Composite Index up by 608 points, or 1.9%, to 33,074 — helping it post its biggest single-day percentage gain in over six months.
While all key market sectors ended the session in the green, the market rally was mainly led by solid gains in mining, consumer cyclicals, and healthcare stocks. As investors rotated back into riskier assets following the softer inflation print, several beaten-down stocks saw renewed buying interest, and some defensive stocks lagged the broader advance.
Top TSX Composite movers and active stocks
Shares of Magna International (TSX: MG) rallied nearly 19% to $93.52 apiece, making it the top-performing TSX stock for the day. This rally in MG stock came after the Aurora-based global auto parts giant reported better-than-expected fourth-quarter results and issued an upbeat 2026 outlook.
In the latest quarter, Magna’s quarterly sales rose 2% year over year to US$10.8 billion despite a 1% decline in global light vehicle production. At the same time, its adjusted diluted earnings climbed 29% to $2.18 per share, and the company generated a strong $1.3 billion in free cash flow in the quarter. Looking ahead, Magna projected 2026 sales of $41.9 billion to $43.5 billion and free cash flow of up to $1.8 billion, alongside plans to repurchase the remaining shares under its buyback authorization. Notably, MG stock has risen around 66% over the last 12 months.
Trisura Group, G Mining Ventures, and SSR Mining were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 8.6%.
In contrast, Advantage Energy, Colliers International, CAE, and Brookfield Business Partners slipped by at least 3.4% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Telus, Enbridge, B2Gold, Air Canada, and Bitfarms were the five most active stocks on the exchange.
TSX today
Crude oil and natural gas prices trended higher in early Tuesday morning, while metals prices fell sharply. Given these mixed signals from key commodities, the resource-heavy TSX index could see uneven sector performance at the open today.
Although no major domestic economic releases are due, Canadian investors will closely monitor the U.S. retail sales and employment cost data this morning amid heightened sensitivity to macroeconomic data.
On the corporate events front, several TSX-listed companies, including iA Financial, RioCan REIT, RB Global, Dream Industrial REIT, Gibson Energy, TFI International, CT REIT, and SSR Mining, will announce their latest quarterly results today after the market closing bell.
Market movers on the TSX today
