TSX Today: What to Watch for in Stocks on Thursday, December 18

Despite a rally in commodity prices, Canadian equities continued to decline for the fourth consecutive session on Wednesday as renewed concerns about the timing of more interest rate cuts and economic stability kept investors on edge. The S&P/TSX Composite Index ended the volatile session with a minor decline of 14 points at 31,250 — marking its longest losing streak since April.

Even as solid intraday gains in oil and metals prices drove energy and mining stocks higher, a continued selloff in many other key sectors, such as financials and technology, dragged the TSX benchmark lower.

Top TSX Composite movers and active stocks

Toromont Industries, TransAlta, Badger Infrastructure Solutions, and MDA Space were the worst-performing TSX stocks for the day, with each diving by at least 4.6%.

On the flip side, Cargojet, Baytex Energy, Discovery Silver, and Bird Construction climbed by at least 4.2% each, making them the day’s top-performing TSX stocks.

Dream Industrial Real Estate Investment Trust (TSX:DIR.UN) was also among the session’s top gainers on the Toronto Stock Exchange, as its shares climbed 3.2% to $12.57 apiece. The rally came after the company announced a strategic partnership with CPP Investments that includes an $805 million asset sale into a new joint venture.

Dream Industrial expects to use the proceeds from this transaction for unit buybacks and growth projects, a move seen as financially accretive. Over the last six months, the REIT has risen by nearly 9%.

Similarly, shares of Premium Brands Holdings (TSX:PBH) climbed over 3% after the company closed a major $600 million equity and convertible debenture offering. The funds will help finance Premium Brands’s planned acquisition of Stampede Culinary Partners and strengthen its balance sheet. Investors welcomed the capital raise as a move to support growth and expansion.

Based on their daily trade volume, Canadian Natural Resources, Telus, Cenovus Energy, TD Bank, and TC Energy were the five most active stocks on the exchange.

TSX today

Following the strong rally in the previous session, crude oil and gold prices were largely mixed in early morning trading on Thursday, pointing to a muted opening for the resource-heavy TSX index today.

While no major domestic economic releases are due, Canadian investors will closely monitor the important U.S. consumer inflation report and manufacturing data this morning. The U.S. data could play a key role in shaping near-term interest rate expectations, especially after recent Fed comments hinted at a more data-dependent approach in 2026.

On the corporate events side, the TSX-listed BlackBerry will release its latest quarterly earnings report after the market closing bell. Street analysts expect the Waterloo-based software firm to post earnings of US$0.04 per share for the November quarter with US$137.4 million in revenue.

Market movers on the TSX today

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  More reading

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