Canadian equities market continued to trade on a positive note for the fifth consecutive session on Tuesday. The TSX Composite Index settled at a fresh record high of 21,595, up 38 points, or 0.2% gains, for the day. While rising commodity prices drove metals mining stocks higher on the TSX, real estate and tech sectors also showcased strength.
Top TSX gainers and losers Pretium Resources . (TSX:PVG), Village Farms (TSX:VFF), Dye & Durham (TSX:DND) and Canopy Growth (TSX:WEED) were the top four gainers on the TSX in the last session. The shares of Pretium and Village Farms surged 19% and 11%, respectively.
In contrast, the shares of Westport Fuel (TSX:WPRT), Cronos Group (TSX:CRON), Ballard Power (TSX:BLDP), and Stella-Jones. (TSX:SJ) fell sharply — making them the worst-performing stocks on the index.
Enbridge Inc (TSX:ENB), Suncor Energy (TSX:SU), Bombardier (TSX:BBDb), and Cenovus Energy (TSX:CVE) were among the most heavily traded Canadian stocks on November 9. While more than 29 million shares of Enbridge changed hands in the last session, Suncor’s daily trade volume stood at 11.4 million.
TSX today Canadian stocks might open on a slightly negative note on Wednesday, November 10. The overnight correction in commodity prices, including Crude Oil, Gold, and copper, could pressurize energy and metals mining stocks on the TSX today. On the economic events front, investors could pay attention to key inflation and jobs market numbers from the U.S. this morning. Later at 10:30 AM ET, Energy Information Administration will release the weekly crude oil stockpiles data, which could give further direction to Canadian energy stocks.
Key Canadian earnings today WELL Health (TSX:WELL) will release its Q3 results Wednesday before the market opens. Street analysts expect the Canadian digital health firm’s third-quarter revenue to be around $92.8 million. WELL is expected to report a one-cent-per-share net loss for the quarter. Notably, the company has been missing analysts’ earnings expectations for the last couple of quarters. This could be the reason why its stock has dived 14% year to date. If WELL Health manages to beat its Q3 estimates, its stock could witness a gradual recovery in the near term.
SunOpta. (TSX:SOY), CGI Group (TSX:CGI), Boyd Group (TSX:BYD), and Emera (TSX:EMA) are among other Canadian companies likely to release their latest quarterly results today.
The post TSX Today: What to Watch for in the Market on Wednesday, November 10 appeared first on The Motley Fool Canada.
The Motley Fool owns shares of and recommends SUNOPTA, INC. and Village Farms International, Inc. The Motley Fool recommends Boyd Group Services Inc., CGI GROUP INC CL A SV, EMERA INCORPORATED, and Enbridge. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.