TSX Today - What Should You Watch Out For in Stocks On Wednesday, December28th


tsx today

Canadian stocks staged a recovery on Friday, as an intraday recovery in commodity prices drove metal mining and energy stocks higher ahead of the long Christmas and Boxing Day weekend. The S&P/TSX Composite Index rose by 157 points, or 0.8%, in the last session to settle at 19,507, helping the index end the week with 63-point gains to end a two-week-long losing streak.

Besides commodity-linked stocks, renewed buying was also seen in key stock market sectors like utilities, real estate, and consumer non-cyclicals. In contrast, shares of most healthcare and technology companies traded on a negative note.

Top TSX movers and active stocks

Dye & Durham (TSX:DND) stock popped by nearly 10% in the last session to $15.55 per share, making it the top-performing TSX Composite component for the day. With this, DND stock staged an impressive recovery of 29.5% last week. This rally started after Dye & Durham made an announcement regarding “a significant expansion of its software product offering in Canada with the addition of a comprehensive suite of litigation workflow solutions” on December 19. Despite the recent sharp recovery, however, DND stock still trades with 65.4% year-to-date losses.

Athabasca OilSuperior Plus, and Baytex Energy were also among the top-performing TSX stocks Friday, as they inched up by at least 7.9% each.

In contrast, Canada Goose HoldingsBausch Health CompaniesCronos GroupBallard Power Systems, and Shopify were the worst-performing stocks on the Toronto Stock Exchange, as they fell by at least 3% each.

Based on their daily trade volume, TC EnergyCanadian Imperial Bank of CommerceSuncor Energy, Athabasca Oil, and Barrick Gold were the five most active stocks on the exchange.

TSX today

Commodity prices, especially crude oil and precious metals, were trading on a bearish note early Wednesday morning. Given that, I expect the resource-heavy main TSX index to open lower from its previous closing today.

While no important domestic economic releases are due, Canadian investors may want to watch the latest pending home sales data from the U.S. market this morning. Overall, the stock market is likely to remain volatile in the next few sessions, as investors continue to adjust their positions before 2023.

The post TSX Today: What to Watch for in Stocks on Wednesday, December 28 appeared first on The Motley Fool Canada.

Should You Invest $1,000 In Dye & Durham?

Before you consider Dye & Durham, you’ll want to hear this.

Our market-beating analyst team just revealed what they believe are the 5 best stocks for investors to buy in December 2022 … and Dye & Durham wasn’t on the list.

The online investing service they’ve run for nearly a decade, Motley Fool Stock Advisor Canada, is beating the TSX by 16 percentage points. And right now, they think there are 5 stocks that are better buys.

See the 5 Stocks * Returns as of 12/13/22

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More reading

1 Undervalued Growth Stock Down 73% to Buy Hand Over Fist in 2023 2 TSX Stocks I’d Buy Today and Hold Forever TSX Today: What to Watch for in Stocks on Tuesday, December 20 1 TSX Stock That Could Crush the Market in the Long Run 3 Spring-Loaded Stocks You’ll Want to Own When They Snap Back

The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Superior Plus. The Motley Fool has a disclosure policy. Fool contributor Jitendra Parashar has no position in any of the stocks mentioned.

https://www.fool.ca/2022/12/28/tsx-today-what-to-watch-for-in-stocks-on-wednesday-december-28/

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