After staging a recovery of over 2% last week, the Canadian stock market started the new week on a cautious note as investors weighed renewed risks to global energy supplies against a still-wait-and-see stance from the U.S. Federal Reserve. The S&P/TSX Composite Index witnessed a roller coaster with heightened volatility and concluded the day with a minor decline of 26 points, or 0.1%, at 31,935.
Despite strength in select consumer staple and utility stocks, weakness in several other key sectors, such as technology, healthcare, and energy, kept the TSX benchmark under pressure.
The U.S. Fed is keeping an eye on the Iran conflict
Speaking at an event on Monday, U.S. Federal Reserve Chair Jerome Powell indicated that interest rates are currently in a “good place,” signaling a cautious, data-dependent approach as policymakers assess the economic impact of rising oil prices and geopolitical tensions. He acknowledged that the ongoing Middle East conflict could push energy costs higher and complicate the inflation outlook, but emphasized that it is still too early to determine the full extent of these effects.
Top TSX Composite movers and active stocks
Americas Gold and Silver (TSX:USA) tanked by 15% to $6.47 per share, making it the worst-performing TSX stock for the day. This selloff in USA stock came after the Toronto-headquartered precious metals mining firm reported its latest annual results. The company posted a net loss of $87.4 million for 2025, as higher metal prices increased liabilities related to its contracts, even as operations improved. While its management guided for roughly 30% production growth in 2026, it also outlined significant capital spending plans of up to $120 million to support expansion projects — leading to a selloff in USA stock.
5N Plus, Celestica, and Bitfarms were also among the day’s bottom performers on the Toronto Stock Exchange, with each diving by at least 6.6%.
On the brighter side, AbraSilver Resource (TSX:ABRA) stood out as the top-performing TSX stock as its shares climbed nearly 6% to $11.63 apiece after the metals exploration company announced the completion of its Condoryacu acquisition alongside strong initial drilling results from its Phase VI program.
Aya Gold & Silver, GFL Environmental, and Waste Connections also climbed by more than 4% each, making them among the session’s top-gaining TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, TC Energy, Baytex Energy, and Whitecap Resources were the five most active stocks on the exchange.
TSX today
Metals prices trended higher in early morning trading on Tuesday while West Texas Intermediate (WTI) crude oil futures eased from their multi-year highs, which could offer some support to TSX mining stocks even as energy shares may open on a softer note. However, broader market sentiment is likely to remain cautious as geopolitical risks in the Middle East continue to evolve.
At the same time, the latest attacks on vessels near the Strait of Hormuz have reinforced concerns about the security of global oil shipments, even as crude prices pulled back slightly from recent peaks. These developments could keep commodity markets volatile and limit risk appetite on the TSX throughout the session.
In addition, Canadian investors will keep an eye on Canada’s latest gross domestic product (GDP) growth numbers, job openings and consumer confidence data from the U.S.
On the corporate events front, several TSX-listed companies, including Allied Gold, goeasy, Bitfarms, and Aya Gold & Silver, will release their latest quarterly earnings reports today, which could keep these stocks in focus.
Market movers on the TSX today
