TSX Today: What to Watch for in Stocks on Tuesday, December 2

After hitting a fresh all-time high in the previous session, Canadian equities started the new month off on a negative note as investors turned cautious ahead of key economic data, bank earnings, and central bank decisions. The S&P/TSX Composite Index gave up 281 points, or 0.9%, to close at 31,102 — snapping a six-session winning streak.

The pullback was broad-based, with technology, real estate, and financial stocks leading the declines as market participants appeared to take a risk-off approach.

Despite the dip, however, the TSX benchmark remains up 25.8% on a year-to-date basis.

Top TSX Composite movers and active stocks

Celestica, Shopify, Bombardier, and Endeavour Silver dived by at least 4.2% each, making them the worst-performing TSX stocks for the day.

On the brighter side, shares of Bausch Health Companies (TSX:BHC) jumped over 11% to $9.88 per share, trimming its year-to-date declines to 15%. This rally in BHC stock came after the healthcare giant’s aesthetics arm, Solta Medical, acquired its longtime China distribution partner, the Shibo Group.

The deal gives Bausch a direct line to customers in one of the world’s fastest-growing beauty markets. The company expects the move to help it accelerate revenue and market share growth by improving service and responsiveness in China. Investors appeared to cheer the acquisition as a strategic step toward unlocking growth in a high-demand market.

Curaleaf, Nutrien, and Aecon Group were also among the day’s top gainers on the Toronto Stock Exchange, with each climbing by at least 3.5%.

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

TSX today

Following several days of gains, metals prices witnessed a pullback in early trading on Tuesday, while crude oil prices were mixed. Given these mixed commodity signals, the TSX could remain muted at the open today.

While no major domestic economic releases are due, Canadian investors will closely monitor the U.S. job openings data this morning in hopes it signals a cooling in the labour market — a development that could support the case for earlier interest rate cuts.

More importantly, Canada’s bank earnings will begin rolling out today, with Bank of Nova Scotia expected to announce results. Bay Street expects it to post earnings of $1.84 per share for the October quarter with $9.4 billion in revenue.

Market movers on the TSX today

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  More reading

  • 2 Magnificent Canadian Stocks to Own for the Long Haul
  • 2 TSX Giants to Buy for Years of Growth and Dividends
  • Better Dividend Stock for 2026: BCE or Telus? 
  • Want Monthly Income for Decades? These 2 Stocks Deliver Growth, Too
  • Better Energy Stock: Canadian Natural Resources vs. Suncor

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