TSX Today: What to Watch for in Stocks on Monday, January 5

After ending 2025 with a solid 28.2% gain, Canadian stocks started the new year on a positive note as continued strength in commodity prices boosted investors’ confidence despite uncertainty about the outlook of interest rates and global economic growth. The S&P/TSX Composite Index climbed by 171 points, or 0.5%, on Friday to settle at 31,883 — ending its four-day losing streak.

Even as technology stocks kept trading under pressure, strong performances in other key sectors, including healthcare, energy, and financials, helped lift the broader index.

Top TSX Composite movers and active stocks

Denison Mines (TSX:DML) jumped nearly 14% to $4.14 per share, making it one of the top-performing TSX stocks for the day. This rally in DML stock came after the Toronto-based uranium miner said it is ready to make a final investment decision and begin construction of its flagship Phoenix ISR uranium project, pending final regulatory approvals.

The company confirmed the project is now construction-ready, with a targeted first production timeline of mid-2028. Denison also updated its initial capital cost estimate to $600 million, about 20% higher than its 2023 feasibility study, reflecting inflation and refined project planning. Notably, DML stock has climbed 39% over the last year.

Shares of Bitfarms (TSX:BITF) were also among the day’s top gainers on the Toronto Stock Exchange after the company announced a strategic exit from Latin America with the sale of its 70‑megawatt Paso Pe site in Paraguay for up to US$30 million. The deal marks Bitfarms’s full shift to a 100% North American energy portfolio, with US$9 million in cash expected at closing and up to US$21 million based on future milestones.

Energy Fuels, NexGen Energy, and Lithium Americas also rallied by at least 9.7% each, making them among the session’s top-performing TSX stocks.

In contrast, G Mining Ventures, Wesdome Gold Mines, Thomson Reuters, and Endeavour Silver were the worst-performing TSX stocks, with each slipping by at least 3.9%.

Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, Scotiabank, TD Bank, and B2Gold were the five most active stocks on the exchange.

TSX today

During the weekend, U.S. forces conducted a brief but high-profile operation in Venezuela to apprehend Nicolás Maduro, the country’s former president and an indicted narcoterrorism suspect. While the U.S. government emphasized that the action was not an invasion, this increased geopolitical tensions in the region drove crude oil prices lower, but led to a spike in precious metals prices in early morning trading on Monday.

Given that, the resource-heavy main TSX index could see mixed movements at the start of the week, as investors weigh lower oil prices against gains in gold and other safe-haven metals.

While no major domestic economic releases are due, Canadian investors will closely monitor the monthly manufacturing data from the U.S. this morning. Additionally, traders will be watching for any follow-up statements from U.S. or international officials regarding the Venezuela operation, which may further impact global risk appetite.

Market movers on the TSX today

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  Fool contributor Jitendra Parashar has positions in Canadian Natural Resources and Toronto-Dominion Bank. The Motley Fool recommends B2Gold, Bank Of Nova Scotia, and Canadian Natural Resources. The Motley Fool has a disclosure policy.