TSX Poised for a Flat Week

2026-01-23 14:47 By Felipe Alarcon 1 min. read

The S&P TSX Composite hovered just above the flatline near the 33,000 level on Friday and was set to end the week broadly unchanged as strength in resource-linked stocks was largely offset by softness in technology and financials while markets reassessed Canada’s growth outlook.

Energy shares led gains, with Canadian Natural Resources, Suncor, Imperial Oil, and Cenovus rising between 1.9% and 2.4% as oil prices advanced and headed for a fifth straight weekly increase.

Mining stocks also provided support, with Barrick and Wheaton Precious Metals up about 1% each after gold surged to a record high amid heightened geopolitical.

In contrast, Shopify fell roughly 2% to lead technology losses, while major banks including BMO and Scotiabank alongside Brookfield slipped between 0.5% and 1%.

On the macro front, weaker December retail sales pointed to lingering consumer fragility, tempering confidence that the Bank of Canada is finished easing policy.



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