TSX Today: What to Watch for in Stocks on Wednesday, August 19

After falling for a third consecutive session on Tuesday, the TSX could remain volatile today as investors monitor elevated energy prices, U.S.-Iran tensions, and the latest Fed meeting minutes.

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 August 19, 9:00 am EDT

The selloff in Canadian stocks continued for the third consecutive session on Tuesday as weaker metals prices, inflation worries, and ongoing U.S.-Iran tensions kept investors cautious. The S&P/TSX Composite Index plunged by 300 points, or 0.8%, to settle at 36,368 — marking its steepest single-day decline in August and bringing it to its lowest level in a week.

Despite gains in healthcare, consumer cyclical, and energy stocks, sharp losses in other key sectors like mining, technology, and financials weighed heavily on the broader market and dragged the TSX benchmark lower.

Top TSX Composite movers and active stocks

Celestica, Wesdome Gold Mines, OceanaGold, and Aya Gold & Silver dived by more than 6% each, making them the worst-performing TSX stocks for the day.

On the brighter side, BRP (TSX: DOO) was the biggest gainer on the Toronto Stock Exchange, as its shares jumped nearly 8% to $95.31 apiece. This rally in DOO stock followed the launch of BRP Financial Services, a new retail financing program for customers and dealers in the U.S. market.

BRP said the offering is designed to improve the customer financing experience, support dealer sales, and strengthen its competitive position. In a separate development, the company also unveiled new Can-Am concept vehicles and refreshed its 2027 Sea-Doo lineup with more powerful engines and new models. These product and financing initiatives boosted investor optimism about BRP’s growth prospects in the U.S. market.

Bausch Health Companies, RB Global, and Altus Group were also among the day’s top-performing TSX stocks, with each climbing by at least 4%.

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

TSX today

Crude oil and natural gas prices remained elevated in early Wednesday trading as the U.S.-Iran standoff over the Strait of Hormuz showed no clear signs of easing. U.S. president Donald Trump said no talks with Tehran are currently underway or scheduled, while commercial shipping through the strait remains far below pre-war levels.

This combination of stalled diplomacy and rising regional tensions could keep crude prices volatile and increase uncertainty for the TSX energy sector and broader market stocks today.

While no major domestic economic releases are due, Canadian investors may also want to keep an eye on the latest Federal Open Market Committee (FOMC) meeting minutes later today for additional clues about the Federal Reserve’s policy outlook. Any indication that officials remain concerned about inflation could keep pressure on rate-sensitive stocks, while a more dovish tone may help improve broader market sentiment across North America.