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TSX Today: What to Watch for in Stocks on Thursday, January 6

Stock Markets Jan 06, 2022 08:15
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© Reuters. TSX Today: What to Watch for in Stocks on Thursday, January 6

Canadian equities turned negative Wednesday, as investors speculated on the U.S. central bank’s aggressive stance after the release of the latest FOMC meeting minutes. The S&P/TSX Composite Index fell by 197 points, or 0.9%, for the day to 21,040, marking its lowest closing since December 22. While intraday gains in the crude oil prices took energy stocks slightly higher, the shares of companies from all other major sectors fell. Healthcare, technology, real estate, and industrials were among the worst-performing sectors on the TSX.

Top TSX movers and active stocks H&R Real Estate Investment Trust (TSX:HR_u) shares saw an extremely volatile session on January 5. The stock fell by more than 20% in the morning but retraced sharply from its day lows later to end the session with 4% gains from its previous closing. The REIT company announced the completion of its Primaris properties spinout yesterday, which kept its stocks highly volatile. On a year-to-date basis, H&R stock is trading with nearly 2% gains.

Uranium stocks like Denison Mines (TSX:DML) NexGen Energy (TSX:NXE), and Cameco (TSX:CCO) continued to be among the top gainers on the TSX for the second consecutive session on Wednesday. Denison’s and Nexgen’s shares inched up by at least 5% each, and Cameco registered 3% gains for the day amid growing demand.

The shares of Docebo and Hut 8 Mining were the two worst performers among TSX Composite components, as they plunged by about 13% each.

Toronto Dominion Bank (TSX:TD) , Crescent Point Energy (TSX:CPG), and Suncor Energy (TSX:SU) were the most active stocks based on their daily trade volume. More than 15% million shares of TD Bank (TSX:TD) changed hands on the exchange yesterday.

TSX today The ongoing weakness in TSX stocks is likely to continue on Thursday, as an overnight correction in commodity prices across the board point to a lower opening. Also, speculations about the Fed’s stance are likely to continue weighing on stocks. Investors could eye on the latest jobless claims and nonmanufacturing PMI data from the U.S. market this morning.

The post TSX Today: What to Watch for in Stocks on Thursday, January 6 appeared first on The Motley Fool Canada.

The Motley Fool recommends Docebo Inc. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

This Article Was First Published on The Motley Fool

TSX Today: What to Watch for in Stocks on Thursday, January 6
 

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