Canadian stocks rose for the third consecutive session on Thursday, September 23. The TSX Composite Index ended the session at 20,462, gaining 62 points, or 0.3%. Investors seemingly continued to cheer fading fears about the Chinese real estate giant Evergrande’s potential collapse and took Fed’s tapering schedule in stride. Despite a slightly negative weekly change in the U.S. initial jobless claims data, much better-than-expected Canadian core retail sales data for July helped the TSX stocks trade positively.
Also, continued gains in WTI crude oil prices for the third day in a row took Canadian energy stocks higher on September 23. Before we discuss what to watch for on the TSX today, let’s take a quick look at some of the top TSX movers and active stocks from yesterday.
Top TSX movers and active stocks BlackBerry (TSX:BB)(NYSE:BB) stock was the top gainer on the TSX in the last session. The stock jumped by more than 10% to $13.44 per share a day after releasing its better-than-expected second-quarter results. The recent rally in BB stock may give some investors a sense of déjà vu, as it looks similar to a Reddit traders-driven rally in the past. However, this time BlackBerry’s share price gains are also supported by its better-than-expected quarterly results, in my opinion.
Bombardier, Capstone Mining, ARC Resources, Hudbay Minerals, Methanex were other top-performing stocks on TSX Composite Index. All these stocks rose by at least 5% each in the last session.
Equinox Gold, Centerra Gold, and Eldorado Gold were the three worst-performing stocks on the Canadian benchmark, as they shed a minimum of 5% each.
TC Energy, Bombardier, Cenovus Energy, Suncor Energy, and Power Corporation of Canada were the top five most active stocks on the TSX index based on their daily traded volume.
Top TSX stocks to watch today The Canadian stock market is likely to open on a mixed to slightly positive note on September 24 due to minor strength in metals prices. Investors would look forward to Fed chairman Jerome Powell’s speech about the post-pandemic economic recovery this morning, which could give further direction to the TSX stocks today.
While no major Canadian corporate event is scheduled for today, TSX investors may want to keep a close eye on energy stocks. The ongoing, consistent rally in oil prices could boost energy companies’ financial growth and take their stock prices higher.
The post TSX Today: What to Expect From Canadian Stocks on September 24 appeared first on The Motley Fool Canada.
The Motley Fool recommends BlackBerry and METHANEX CORP. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.