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TSX Today: What to Watch for in Stocks on Thursday, September 3

TSX Today: What to Watch for in Stocks on Thursday, September 3

Canadian stocks staged a recovery on Wednesday as investors reacted to strengthening metals prices and the Bank of Canada’s (BoC) decision to keep its benchmark interest rate unchanged at 2.25%. The S&P/TSX Composite Index climbed by 266 points, or 0.7%, to settle at 36,092 — snapping its three-day losing streak.

Despite weakness in utility and energy stocks, strong gains in most other key market sectors, including mining, financials, and consumer cyclicals, lifted the TSX benchmark.

The BoC keeps interest rate steady

In its latest statement, the Canadian central bank pointed to a broadening recovery in the domestic economy, with second-quarter gross domestic product (GDP) growing by 3.3% and the unemployment rate easing to 6.4% in July.

However, policymakers also highlighted increasing inflation risks from persistently high energy prices and ongoing disruptions to shipments through the Strait of Hormuz. The BoC added that new U.S. tariffs and Canadian counter-tariffs have made the growth outlook more uncertain, even as underlying inflation measures remain close to its 2% target.

Top TSX Composite movers and active stocks

Endeavour Silver, AbraSilver Resource, G Mining Ventures, and Silvercorp Metals were the top-performing TSX stocks for the day as they jumped by more than 7% each.

In contrast, Celestica, BlackBerry, Descartes Systems, and Parex Resources fell by at least 2.8% each, making them the session’s worst-performing TSX stocks.

Alimentation Couche-Tard (TSX: ATD) was also among the day’s bottom performers on the Toronto Stock Exchange, as its shares slipped 2.4% after the convenience store giant released its first-quarter fiscal 2027 (ended on July 19, 2026) results. During the quarter, its net earnings rose 5.9% year over year to roughly US$829 million.

Couche-Tard’s total revenue jumped 25.1% last quarter to US$21.7 billion, largely reflecting higher fuel selling prices and contributions from acquisitions. However, the company’s same-store fuel volumes fell 1.6% in the United States and 4.3% in Europe and other regions amid softer demand, while merchandise margins narrowed in the U.S. and Canada. These weaker operating trends weighed on ATD stock despite its solid earnings growth.

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

TSX today

Crude oil and metals prices trended higher in early trading on Thursday, which could lift the commodity-heavy main TSX index at the open today.

With no major domestic economic releases due, Canadian investors may want to keep an eye on the latest U.S. jobless claims and services purchasing managers index (PMI) data this morning.

Meanwhile, Canada-U.S. trade tensions remain in focus ahead of Ottawa’s planned September 8 retaliatory tariffs on billions of dollars worth of U.S. goods. Prime Minister Mark Carney has signaled openness to restarting talks, while Finance Minister Francois-Philippe Champagne recently met U.S. Treasury Secretary Scott Bessent.

TSX investors will also monitor new developments related to the Strait of Hormuz, where improving shipping flows could ease pressure on oil prices, though regional security risks remain elevated.

Market movers on the TSX today

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    * Returns as of July 30th, 2026

    More reading

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    Fool contributor Jitendra Parashar has positions in Alimentation Couche-Tard, BlackBerry, Canadian Natural Resources, Celestica, and Enbridge. The Motley Fool has positions in and recommends Alimentation Couche-Tard. The Motley Fool recommends Canadian Natural Resources, Celestica, Descartes Systems Group, Enbridge, and Parex Resources. The Motley Fool has a disclosure policy.

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