TSX Today: Why Canadian stocks could rise on Monday, December 22

Canada’s stock market rose for a second straight session on Friday as rising commodity prices and renewed hopes for more rate cuts in early 2026 amid weak economic data on both sides of the border boosted investor optimism. The S&P/TSX composite index climbed 315 points, or 1%, to close at 31,756, marking the best one-day performance in two weeks and setting a new all-time high.

On the one hand, consumer staples and utilities stocks fell as investors abandoned defensive stocks in favor of more growth-sensitive sectors. However, strong gains in mining, technology and energy stocks helped drive the TSX benchmark index higher.

With a weekly gain of about 0.7%, the TSX Composite ended its second straight week on a positive note, supported by improving sentiment around monetary policy and a rise in commodity prices.

Top TSX Composite movers and active stocks

Shares of Energy fuels (TSX:EFR) rose 8.1% to $20.82 per share, making it one of the best performing TSX stocks of the day. This rally in EFR stock came after the company announced that its high-purity dysprosium oxide had passed key quality tests by a major South Korean magnet manufacturer.

The approval marks a major step for Energy Fuels in qualifying U.S.-produced heavy rare earth metals for use in electric vehicles and defense systems. With China continuing to restrict exports of these crucial minerals, investors apparently saw this development as a win for the company’s supply chain independence and future growth prospects. Notably, EFR shares have risen 182% so far in 2025.

Bit farms, Celestica, NexGen energyAnd Denison Mines were also among the day’s biggest gainers on the Toronto Stock Exchange, rising more than 7% each.

On the other hand, BlackBerry, Curaleaf, West Fraser woodAnd Strathcona Springs fell at least 3.8% each, making them the worst-performing TSX stocks of the session.

Based on their daily trading volume Discovery of silver, Algonquin Power and UtilitiesBit farms, Cenovus energyAnd Canadian natural resources were the five most active stocks on the stock exchange.

TSX today

Commodity prices, especially crude oil and precious metals, rose sharply in early morning trading Monday, paving the way for another potentially strong session for the resource-heavy TSX index.

While no major domestic economic data is in the pipeline, equities may start the shortened holiday week on a positive note, supported by the strength of commodity markets and growing confidence in the early 2026 interest rate cut story.

Market movements on the TSX today