TSX Today: What to Watch for in Stocks on Thursday, December 4

After falling for two consecutive days, Canadian stocks staged a rebound on Wednesday as significantly weaker-than-expected U.S. non-farm employment data raised hopes that central banks may further slash interest rates in the near term. The S&P/TSX Composite Index rose by 111 points, or 0.4%, to settle at 31,161 — extending its year-to-date gains to 26%.

Despite weakness in real estate and utility stocks, strong gains in most other key market sectors, including healthcare, industrials, and technology, helped lift the broader index and reignited investor enthusiasm across growth-focused sectors.

Top TSX Composite movers and active stocks

Shares of Ivanhoe Mines (TSX:IVN) climbed 8.6% to $15.61 apiece, making it the top-performing TSX stock for the day. This rally in IVN stock followed upbeat production guidance from the Vancouver-based mining firm for its Kamoa-Kakula copper project.

Ivanhoe expects its copper output to reach as much as 420,000 tonnes in 2026 and 540,000 tonnes in 2027, reflecting strong progress in mine dewatering and access to higher-grade zones. This upbeat forecast apparently reassured investors about the momentum of its recovery plan and the long-term potential of one of the world’s largest copper complexes. On a year-to-date basis, however, IVN stock is still down 8.5%.

Capstone Copper, International Petroleum, and Hudbay Minerals were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 5.7%.

On the flip side, G Mining Ventures, Orla Mining, Endeavour Silver, and Aya Gold & Silver slipped by at least 3.3% each, making them the session’s worst-performing TSX stocks.

According to the exchange’s daily trade volume data, Canadian Natural Resources, Cenovus Energy, Telus, Suncor Energy, and Manulife Financial were the five most active stocks.

TSX today

Crude oil prices edged slightly up in early trading on Thursday, but metals, for the most part, traded lower. Given these mixed commodity trends, the TSX may open on a relatively flat note today as investors continue to digest recent data and await further direction from upcoming economic indicators.

In addition to domestic purchasing managers’ index (PMI) figures, Canadian investors will also keep an eye on the latest U.S. jobless claims data this morning.

On the corporate events front, TSX-listed Bank of Montreal, Canadian Imperial Bank of Commerce, Toronto-Dominion Bank, and BRP will announce their latest quarterly results today, which could keep their shares active throughout the session.

Market movers on the TSX today

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