The rally within the Canadian inventory market continued on Friday as traders welcomed the U.S. Supreme Courtroom ruling to strike down President Donald Trump’s sweeping tariffs imposed beneath the Worldwide Emergency Financial Powers Act. The Courtroom famous that the statute doesn’t authorize the president to levy duties, highlighting that tariff powers relaxation with Congress. This information, regardless of a hotter-than-expected U.S. inflation print, drove the S&P/TSX Composite Index up by 223 factors, or 0.7%, for the day to a contemporary all-time excessive of 33,818 — extending the market benchmark’s weekly achieve to 2.2%.
On the one hand, shopper staples and utility shares witnessed weak spot as traders rotated towards extra cyclical and trade-sensitive sectors following the tariff ruling. Alternatively, know-how, actual property, and monetary shares attracted contemporary shopping for curiosity, serving to raise the broader index.
Prime TSX Composite movers and lively shares
Fortuna Mining, First Majestic Silver, Lundin Miningand Sprott had been the day’s top-performing TSX shares, with every climbing by no less than 9.9%.
In distinction, shares of Superior Plus (TSX:SPB) tanked over 18% to $6.48 apiece, making it the session’s worst-performing TSX inventory. This selloff in SPB inventory got here after the Toronto-based propane distributor posted its fourth-quarter and full-year 2025 outcomes together with a weaker long-term development outlook. Whereas the corporate’s full-year adjusted EBITDA (earnings earlier than curiosity, taxes, depreciation, and amortization) rose 2% to $463.5 million in 2025, it lowered its anticipated compound annual adjusted EBITDA development charge to about 2% from 2024 to 2027, down from its prior 8% goal.
Superior Plus additionally pushed out the total advantages of its Superior Delivers transformation program to 2028 from 2027, citing service pressures and a downturn in Certarus’s wellsite enterprise. The tempered development forecast and prolonged transformation timeline apparently spooked traders, triggering the sharp selloff in SPB inventory.
Curaleaf Holdings, Eldorado Goldand West Fraser Timber had been additionally among the many Toronto Inventory Alternate’s backside performers, as they dived by no less than 6.2% every.
Based mostly on their every day commerce quantity, Canadian Pure Assets, Cenovus Power, Barrick Mining, Enbridgeand B2Gold had been the 5 most lively shares on the trade.
TSX at this time
Gold and silver costs trended greater in early buying and selling on Monday, however most different commodity costs had been largely blended. These early indicators recommend the resource-heavy TSX might see selective power in mining shares on the open at this time, whereas power and industrial names might commerce in a tighter vary.
Nevertheless, Trump’s newest announcement of a short lived import surcharge beneath part 122 of the Commerce Act of 1974 might mood a few of the optimism seen late final week. The White Home mentioned the 150-day measure, set to take impact on February 24, is aimed toward addressing what it calls “elementary worldwide cost issues” tied to the U.S. balance-of-payments deficit.
Whereas these developments might preserve TSX shares unstable, Canadian traders may even keep watch over the most recent earnings releases from Whitecap Assets, Settle forand Winpak.