TSX Today: What to Watch for in Stocks on Wednesday, December 31

Canadian stocks continued to trade on a weak note for the third consecutive session on Tuesday as lighter volumes amid year-end trading and a lack of major catalysts kept investors on the sidelines. The S&P/TSX Composite Index slipped by 30 points for the day to settle at 31,866.

Even as a rebound in silver, copper, and oil prices drove commodity-linked stocks higher, most other key market sectors fell sharply after the latest Federal Open Market Committee (FOMC) meeting minutes emphasized that inflation remains somewhat elevated, though recent data suggests pressures may be easing.

While the FOMC made clear that future rate moves will depend heavily on incoming data and broader economic conditions, it gave traders little clarity heading into 2026.

Top TSX Composite movers and active stocks

Energy Fuels, Bitfarms, Aecon Group, and Lithium Americas were the day’s worst-performing TSX stocks, with each diving by at least 2.6%.

Shares of Manulife Financial (TSX:MFC) also traded negatively after its asset management arm, Manulife Wealth & Asset Management, announced the final 2025 reinvested capital gains distributions for its exchange-traded funds (ETFs) and ETF series. While these non-cash distributions don’t change the number of units investors hold, they may lead to taxable income for those holding investments outside registered accounts.

On the brighter side, a sharp intraday recovery in silver and copper prices drove Aya Gold & Silver, Ero Copper, Silvercorp Metals, and Hudbay Minerals up by at least 2.4% each, making them the session’s top gainers on the Toronto Stock Exchange.

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

TSX today

Commodity prices across the board trended lower in early Wednesday morning trading, which could pressure the resource-heavy main TSX index at the open today.

While no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest U.S. unemployment claims, which could offer fresh clues about labour market strength.

Although markets on both sides of the border may see lighter trading volumes ahead of the New Year holiday, the TSX Composite remains on track to end another strong year, currently trading with nearly 29% year-to-date gains.

Market movers on the TSX today

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  The post TSX Today: What to Watch for in Stocks on Wednesday, December 31 appeared first on The Motley Fool Canada.

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  More reading

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