TSX Today: What to Watch for in Stocks on Thursday, April 16

Canadian equities rose for the fourth consecutive session on Wednesday as the growing possibility of more rate cuts in the near term amid easing U.S. inflation pressures and heightened optimism around potential de-escalation in the Middle East further supported investor sentiment. The S&P/TSX Composite Index inched up by 54 points, or 0.2%, to settle at 34,156 — extending its week-to-date gains to 1.4%.

Although falling crude oil prices pressured the TSX-listed energy stocks, solid intraday gains in other key sectors like technology, healthcare, and financials drove the broader market index higher.

Top TSX Composite movers and active stocks

Curaleaf, Shopify, Energy Fuels, and Descartes Systems Group were the top-performing TSX stocks for the day, with each surging by at least 5.8%.

In contrast, BRP (TSX:DOO) stock crashed by more than 35% to $69.83 per share, making it the day’s worst-performing TSX stock. This massive selloff in DOO stock came after the Valcourt-based powersports company suspended its full-year fiscal 2027 guidance, citing changes in the U.S. tariff environment.

BRP said new tariff rules now impose a 25% duty on the total value of imported snowmobiles and most off-road vehicles, replacing the earlier structure, and could lead to more than $500 million in additional costs this year. DOO stock plunged as investors reacted to the guidance withdrawal and the significant cost pressure from tariffs, raising concerns about BRP’s profitability and near-term outlook.

Shares of Linamar (TSX:LNR) plunged by nearly 13% after the manufacturing company said it is maintaining its full-year 2026 outlook despite ongoing changes to U.S. tariffs. While its mobility business is expected to remain unaffected, Linamar flagged that parts of its industrial segment could see a more pronounced impact from the revised tariff rules.

LNR stock fell as investors appeared concerned about uncertainty around tariff-related impacts on Linamar’s industrial business, despite the company holding its overall guidance steady.

Orla Mining and TerraVest Industries were also among the day’s bottom performers on the Toronto Stock Exchange, with each falling by at least 6.5%.

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

TSX today

Commodity prices were largely mixed in early morning trading on Thursday, pointing to a flat opening for the resource-heavy main TSX index today.

Investors will also be closely watching geopolitical developments in the Middle East, where reports of potential talks between Israeli and Lebanese leaders are raising cautious hopes for de-escalation. At the same time, ongoing U.S. naval actions in the region and disruptions to oil flows through key routes like the Strait of Hormuz continue to add uncertainty to global energy markets.

While no major domestic economic releases are due, Canadian investors may want to keep an eye on the latest monthly manufacturing and weekly jobless claims data from the U.S. this morning.

Overall, TSX investors’ sentiment is likely to remain cautious as they weigh easing inflation expectations against persistent geopolitical and trade-related risks.

Market movers on the TSX today

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  More reading

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  Fool contributor Jitendra Parashar has positions in Canadian Natural Resources, Enbridge, Shopify, and Toronto-Dominion Bank. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Brp, Canadian Natural Resources, Descartes Systems Group, Enbridge, Linamar, TELUS, and TerraVest Industries. The Motley Fool has a disclosure policy.