A day after falling sharply due to escalating global trade and geopolitical tensions, the Canadian stock market bounced back on Wednesday after U.S. president Donald Trump said he wouldnât use force to acquire Greenland, while also backing off plans to impose tariffs on European nations. The S&P/TSX Composite Index rose 101 points, or 0.3%, to close at 32,852, marking its eighth gain in the past 10 sessions.
Although concerns about the overvaluation of many high-flying tech stocks continued to pressure sentiment in the sector, strong gains in energy, industrials, and financials helped keep the TSX index in positive territory.
Top TSX Composite movers and active stocks
Vermilion Energy, Athabasca Oil, Methanex, and Cameco climbed by at least 5.6% each, making them the top-performing TSX stocks for the day.
Shares of Teck Resources (TSX:TECK.B) also surged over 5% to $73.31 apiece, making it one of the dayâs top gainers on the Toronto Stock Exchange. The rally came after the Vancouver-based metals and mining firm reaffirmed its 2026-2028 production and cost guidance while reporting strong 2025 results.
Last year, Teckâs copper production hit 453,500 tonnes, right in line with guidance, while its refined zinc production topped the high end of expectations at nearly 230,000 tons. The company also flagged $295 million in positive pricing adjustments due to stronger metals prices. So far in January, Teck stock has risen around 12%.
In contrast, Vizsla Silver, Wesdome Gold Mines, SSR Mining, and Equinox Gold dived by at least 5% each, making them the sessionâs worst-performing TSX stocks.
Based on their daily trade volume, B2Gold, Canadian Natural Resources, Baytex Energy, Enbridge, and Whitecap Resources were the five most active stocks on the exchange.
TSX today
With the consistently evolving geopolitical backdrop showing signs of easing, commodity prices were volatile in early trading on Thursday. As a result, the resource-heavy main TSX index could remain largely flat at the open today.
While no major domestic economic releases are due, Canadian investors may want to keep a close eye on the latest quarterly gross domestic product growth, monthly personal consumption expenditures, and weekly jobless claims data from the United States this morning. These U.S. data points could offer fresh clues about the strength of the worldâs largest economy and influence investor sentiment across North American markets.
On the corporate events front, the TSX-listed NovaGold Resources will announce its latest quarterly results today, which could keep its shares in focus throughout the session.
Market movers on the TSX today
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The post TSX Today: What to Watch for in Stocks on Thursday, January 22 appeared first on The Motley Fool Canada.
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More reading
- With Copper and Gold Surging, the Canadian Mining Stocks You Need to Know About
- A TSX Dividend Stock Down 15% From Highs to Buy for Lifetime Income
Fool contributor Jitendra Parashar has positions in Canadian Natural Resources, Enbridge, and Teck Resources. The Motley Fool recommends B2Gold, Cameco, Canadian Natural Resources, Enbridge, Methanex, Vermilion Energy, and Whitecap Resources. The Motley Fool has a disclosure policy.
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