Canadian equities bounced back again on Thursday after falling in a previous couple of sessions, as investors continue to speculate about the possibility of a near-term recession. The S&P/TSX Composite Index rose by 334 points, or 1.8%, to settle at 19,063. A sharp recovery in crude oil and copper prices also helped commodity-linked shares climb on the exchange. While all key sectors ended the session in the green territory, energy, healthcare, consumer cyclicals, and metals and mining led the TSX rally, despite weaker-than-expected Canadian purchasing managers index and the U.S. initial jobless claims releases.
Top TSX movers and active stocks As the WTI crude oil futures rebounded above the $100-a-barrel mark, energy stocks like Advantage Energy, Crescent Point Energy (TSX:CPG), Vermilion Energy (TSX:VET), and Nuvista Energy popped by more than 11% each — making them the top-performing TSX stocks for the day.
Shares of Aritzia (TSX:ATZ) rallied by 7.6% yesterday to $36.19 per share after the company released much stronger-than-expected May quarter results. During the quarter, its total revenue increased by 65.2% year over year, while its adjusted earnings saw a solid 84.2% jump from a year ago, as the Canadian apparel retailer posted strong performance across all geographies and channels. Despite yesterday’s rally, Aritzia stock is still trading with 31% year-to-date losses.
On the flip side, New Gold was the only TSX Composite component that fell by more than 2.5% on the exchange.
Based on their daily trade volume, Toronto-Dominion Bank (TSX:TD), Crescent Point Energy, Athabasca Oil, and Canadian Natural Resources (TSX:CNQ) continued to be among the most active stocks on the exchange.
TSX today Early Friday morning, commodity prices across the board were trading on a mixed note, pointing towards a flat opening for the TSX benchmark today. Apart from Canadian employment change data for June, TSX investors may also want to keep an eye on the U.S. monthly non-farm payrolls and unemployment rate releases this morning.
The Canadian franchisor MTY Food Group (TSX:MTY) is likely to announce its May quarter results on July 8. Street analysts expect the company to register a 10.6% year-over-year growth in its quarterly revenue to $150.3 million, while its adjusted earnings are expected to fall by 13.2% to $0.96 per share.
The post TSX Today: What to Watch for in Stocks on Friday, July 8 appeared first on The Motley Fool Canada.
The Motley Fool has positions in and recommends MTY Food Group. The Motley Fool recommends ARITZIA INC, CDN NATURAL RES, and VERMILION ENERGY INC. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.