Canadian equities resumed their upward momentum on Tuesday as strengthening oil prices, much stronger-than-expected U.S. job openings data, and hopes for progress in U.S.-Iran negotiations lifted investor sentiment. The S&P/TSX Composite Index climbed by 435 points, or 1.3%, to settle at a fresh record high of 35,169, registering its biggest single-day percentage gain in over a month.
Despite weakness in some tech and healthcare stocks, strong intraday gains in other key sectors, such as energy, financials, and mining, lifted the TSX benchmark to new heights.
The latest Job Openings and Labour Turnover Survey (JOLTS) report showed U.S. job openings rose by 731,000 to 7.6 million in April, pointing to resilient labour demand despite signs of slower hiring. The upbeat data helped ease concerns about an economic slowdown, while firm crude prices likely supported TSX energy stocks. Investors also monitored Middle East headlines after President Donald Trump said talks with Iran remained active and signalled a possible deal to reopen the Strait of Hormuz and extend the ceasefire within the next week.
Top TSX Composite movers and active stocks
Celestica (TSX:CLS) jumped 11% to $652.82 per share, making it the top-performing TSX stock for the day. This rally in CLS stock came after Aviz Networks and EPS Global launched new artificial intelligence (AI)-ready networking solutions built on Celestica’s switching hardware, highlighting growing demand for its data centre infrastructure products.
Investors also appeared encouraged by the turnkey offering’s potential to speed up the deployment of modern network architectures for enterprises, service providers, and AI infrastructure operators, which could further support demand for Celestica’s high-performance networking platforms. Notably, CLS stock has surged by more than 66% so far in the second quarter.
Energy Fuels, Discovery Silver, and 5N Plus were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 9.5%.
On the flip side, Thomson Reuters, TMX Group, Shopify, and Bausch Health slipped by more than 5% each, making them the session’s worst-performing TSX stocks.
Based on their daily trade volume, Canadian Natural Resources, BlackBerry, Manulife Financial, Telus, and Suncor Energy were the five most active stocks on the exchange.
TSX today
Crude oil prices extended their gains for a third straight day in early Wednesday trading, which could give TSX energy stocks a boost at the open as investors monitor fresh U.S.-Iran tensions.
Meanwhile, the U.S. military carried out self-defence strikes against Iranian targets after attempted attacks across the Middle East. At the same time, markets are still watching for any concrete progress on a potential deal to reopen the Strait of Hormuz. Until there is more clarity, crude prices may stay volatile, giving Canadian oil and gas producers another potential catalyst.
With no major domestic economic releases due, Canadian investors will keep an eye on the latest non-farm employment change and services purchasing managers’ index (PMI) figures this morning.
On the corporate events front, the TSX-listed Transcontinental and Descartes Systems Group will announce their latest quarterly results today after the closing bell.
Market movers on the TSX today
