TSX Today: What to look for in stocks on Friday, January 16

Despite sharp intraday declines in crude oil prices, firm precious metals prices and much better-than-expected U.S. manufacturing data, market jitters subsided Thursday, allowing Canadian stocks to soar to new highs. The S&P/TSX composite index rose by 112 points (or 0.3%) to 33,029. This was the fifth gain in the past six sessions and closed above the key psychological level of 33,000 for the first time.

While overvaluation concerns continued to drag down tech stocks, solid gains in other key sectors such as industrials, real estate and financials pushed the TSX benchmark further into record territory, reflecting broad investor confidence as 2026 accelerates.

Top TSX Composite movers and active stocks

Bombardier (TSX:BBD.B) rose over 7% to $266.20 per share, making it the best performing TSX stock of the day. The rally came after the Canadian business jet manufacturer unveiled a $100 million investment to build a new 12,000-square-foot manufacturing center in Dorval.

With the project, Bombardier aims to increase production capacity to support rising global demand for its business jets. The facility is expected to open in late 2027 and will create skilled jobs. Notably, the Quebec government is also supporting the expansion plan with a repayable loan of $35 million. So far in January, Bombardier shares are up 14%.

Finning International, MDA spaceAnd Cogeco communication were also among the day’s biggest gainers on the Toronto Stock Exchange, rising at least 3.6% each.

In contrast, shares of Alamos Gold (TSX:AGI) fell 6.2% to $55.98 per unit after the Toronto-based gold producer posted weaker-than-expected production results. The company delivered 141,500 ounces in the fourth quarter, flat from the previous quarter but below expectations, mainly due to severe winter weather and operational challenges at Canadian mines. Alamos Gold’s annual production also missed targets and amounted to 545,400 ounces. Despite record revenues and cash flow, the operating deficit appeared to dampen investor sentiment.

Aya gold and silver, TerraVest IndustriesAnd Constellation software also fell at least 3.3% each, making them among the worst-performing TSX stocks of the session.

Based on their daily trading volume data, Cenovus energy, Canadian natural resources, Enbridge, TD bankAnd B2Gold were the five most active stocks on the stock exchange.

TSX today

After a sharp decline in the previous session, crude oil prices bounced back in early morning trading on Friday. At the same time, metal prices showed a downward trend. Given these mixed early commodity trends, the TSX could see a relatively flat to modestly higher open today, with energy stocks poised for a recovery while mining stocks may be under some pressure.

While there are no major economic releases this morning, Canadian investors will continue to monitor global geopolitical developments and corporate news for direction.

Market movements on the TSX today