TSX Today: What to Watch for in Stocks on Tuesday, July 7

Canadian stocks started the new week on a slightly negative note as weaker commodity prices and investor expectations for a cautious start to the second-quarter earnings season weighed on sentiment. The S&P/TSX Composite Index slipped by around 63 points, or 0.2%, to close at 35,212.

Even as industrial and financial stocks continued to show strength, sharp declines in most other key market sectors, including mining, energy, healthcare, and utilities, weighed on the broader market and dragged the TSX benchmark lower.

Despite the small decline, the TSX continued to trade above the 35,000 level, suggesting underlying market sentiment remained largely resilient.

Top TSX Composite movers and active stocks

Curaleaf, I-80 Gold, Pan American Silver, and Discovery Silver were the worst-performing TSX stocks for the day, with each diving by at least 5.7%.

On the flip side, Bombardier, Brookfield Business Holdings, Hammond Power, and Linamar climbed by at least 3.6% each, making them the session’s top-performing TSX stocks.

Celestica (TSX:CLS) was also among the day’s top gainers on the Toronto Stock Exchange, as its shares climbed nearly 3% to $498.11 apiece. This rally in CLS stock came after the company announced the appointment of Steven Dorwart as president of its Connectivity and Cloud Solutions segment, effective immediately.

Dorwart succeeds Jason Phillips, who will retire at the end of the year and remain in an advisory role at Celestica during the transition. The company said Dorwart has played a key role in several of its growth milestones and brings deep relationships with enterprise and hyperscale customers. Investors viewed the leadership transition positively, as it signals continuity in the Canadian tech manufacturer’s fast-growing artificial Intelligence (AI) and cloud infrastructure business. Notably, CLS stock has risen 23% so far in 2026.

Canadian Natural Resources, TD Bank, TC Energy, Telus, and Enbridge were the most active stocks on the exchange, leading trading volume for the session.

TSX today

Gold and silver prices continued to fall in early trading on Tuesday, while oil prices bounced back from their lowest level in months, pointing to a mixed opening for the commodity-heavy TSX index today. While firmer crude oil prices could provide some support to energy stocks, continued weakness in precious metals may keep pressure on gold and silver miners.

In addition to domestic purchasing managers’ index (PMI) data this morning, Canadian investors will keep an eye on commodity price movements and any fresh corporate developments for near-term direction.

With the TSX still trading above the 35,000 mark, market participants will be watching to see whether the benchmark could maintain this key level ahead of the start of the second-quarter earnings season later this month.

Market movers on the TSX today

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  More reading

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  • 3 Canadian Stocks Primed With Potential for Generational Wealth
  • 3 Stocks That Could Turn a $100,000 Portfolio Into $1 Million Sooner Than You Might Think

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