TSX Today: What to Watch for in Stocks on Monday, January 19

A sharp rebound in crude oil prices and optimism ahead of the upcoming corporate earnings season helped Canadian stocks trade positively for the third straight session on Friday, even as precious metals pulled back from record highs. The S&P/TSX Composite Index advanced by 12 points to 33,041 — marking a new all-time closing high and ending the week with a 1.3% gain.

Despite weakness in consumer discretionary and technology shares, strong gains in other sectors, like energy, industrial, and real estate, drove the TSX benchmark higher.

Top TSX Composite movers and active stocks

MDA Space and Silvercorp Metals jumped by at least 10.9% each, making them the day’s top gainers on the Toronto Stock Exchange.

Discovery Silver (TSX:DSV) also climbed 7% to $9.73 per share, making it one of the top-performing TSX stocks for the day. This rally in DSV stock came after the Toronto-based miner reported solid fourth-quarter gold production from its Porcupine operations. Last quarter, the company produced 66,718 ounces of gold, taking output since its April 2025 acquisition close to 180,424 ounces, marking a strong finish to a transformational year.

Discovery also highlighted that the production was up 6% from the third quarter, helped by better grades at Hoyle Pond and higher processing volumes from Pamour. Adding to the optimism, the company released strong exploration results as it closed the year with roughly US$410 million in cash and no debt. So far in January, DSV stock has risen 16%.

On the flip side, Capital Power, Fairfax Financial, Ivanhoe Mines, and SSR Mining were the session’s worst-performing TSX stocks, with each diving by at least 4.2%.

Based on their daily trade volume, Canadian Natural Resources, BlackBerry, Telus, Cenovus Energy, and Discovery Silver were the five most active stocks on the exchange.

TSX today

Gold and silver prices climbed to fresh record highs in early morning trading on Monday, which could lift TSX metal and mining stocks at the open today.

While no major economic releases from the U.S. are due, Canadian investors will closely monitor the domestic consumer inflation report for December and the Bank of Canada’s business outlook survey this morning. These economic data points will indicate how policymakers may approach interest rates in the coming months, which could influence sector rotation on the TSX.

Market movers on the TSX today

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  The post TSX Today: What to Watch for in Stocks on Monday, January 19 appeared first on The Motley Fool Canada.

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  Fool contributor Jitendra Parashar has positions in BlackBerry, Canadian Natural Resources, and Mda Space. The Motley Fool has positions in and recommends Fairfax Financial. The Motley Fool recommends Canadian Natural Resources, Capital Power, and TELUS. The Motley Fool has a disclosure policy.