Global Market Update
Canadian Markets
Canada’s stock market opened lower but managed to recover, as the move higher was based on the commodities sector as gold and oil prices rose on investor flight to safe assets. A recent survey showed that the majority of Canadians fear for their personal financial situation as a result of the impact of American tariffs on the Canadian economy and how it will impact them.
American Markets
U.S. stocks sold off sharply, largely driven by remarks from U.S. President Donald Trump, who announced his intention to impose tariffs that would affect nearly all countries. This statement triggered widespread fears that escalating trade tensions could escalate into a global trade war, which many analysts believe could have severe economic repercussions, potentially even leading to a global recession. The announcement also included the expected release of tariff recommendations on Tuesday, with Trump set to reveal initial tariff levels on Wednesday, and then follow up with the announcement of new tariffs targeting the automotive industry the following day. The uncertainty surrounding these impending tariffs has created volatility in global markets, particularly as traders are unsure of the potential impact on global supply chains, economic growth, and trade relations between the U.S. and its major trading partners.
European Markets
European markets were down across the board as the specter of new tariffs on imported goods to the United States begins to materialize. Over the coming weeks, tariffs on a broad range of imported goods will take effect, which has heightened concerns among European investors and businesses. Data released today revealed that German inflation has fallen, which could strengthen the case for the European Central Bank (ECB) to cut interest rates further. As inflationary pressures ease, the ECB may have more room to adopt a more dovish monetary policy, potentially lowering rates in an effort to stimulate economic activity.
In the UK, stock markets also dropped sharply, following concerns that the trade tensions between the U.S. and the UK are escalating after President Trump signaled tariffs on the UK starting this week. The UK government has expressed concerns about the potential impact of U.S. tariffs on British businesses, with the possibility of higher costs and reduced competitiveness in the U.S. market. UK’s prime minister, Sir Keir Starmer has signaled that he is prepared to take a hardline stance against the U.S. if President Trump follows through on his threat to impose tariffs on UK goods. Starmer has warned that the UK would respond with “sharp teeth” if Trump’s administration targets the UK, indicating that the British government would take decisive action to protect UK industries and workers from the negative impact of such tariffs.
Corporate Stocks News
Apple Inc: APPL was hit with a $162.4 million fine by French antitrust regulators for abusing its dominant position in mobile app advertising through its privacy control tool. This is the first fine related to Apple’s App Tracking Transparency tool, and follows a prior EU antitrust fine for blocking rival music streaming services.
Arm Holdings Plc: Expects its share of the global market for data center CPUs to surge to 50% by the end of the year, up from about 15% in 2024, driven by the boom in artificial intelligence.
Aya Gold & Silver Inc: CIBC cuts target price to C$22 from C$23 following soft fourth-quarter results and impairment-related losses.
BlackRock Inc: Faces heightened criticism over its Panama port deal with CK Hutchison as the transaction, which is expected to be signed by April 2, becomes politically charged amid the China-U.S. trade tensions.
Blackstone Inc: Considering a minority investment in TikTok’s U.S. operations, discussing joining other non-Chinese shareholders to secure TikTok’s U.S. business, which is under threat due to geopolitical issues.
Bluebird bio: Received a non-binding offer from Ayrmid for up to $110.5 million, sending its shares up. Ayrmid, the parent of Gamida Cell, is offering to acquire bluebird for $4.50 per share.
CoStar Group Inc: Domain Holdings in Australia has recommended that its shareholders approve CoStar’s $1.76 billion takeover offer, sweetening its bid to A$4.43 per share.
Colgate-Palmolive Co: Piper Sandler cuts the target price to $107 from $108, citing concerns over softening sales trends.
Delta Air Lines Inc: The Federal Aviation Administration (FAA) is investigating a close call between a Delta flight and a U.S. Air Force jet near Reagan Washington National Airport.
Eli Lilly and Co: The company’s experimental drug, lepodisiran, showed a significant reduction in genetically inherited heart disease risk factors in a midstage trial.
ELF Beauty Inc: Piper Sandler cuts the target price to $90 from $102 due to weaker consumer spending overseas.
Eni: Confirmed that U.S. authorities notified them they will no longer be allowed to be repaid for Venezuelan gas production through oil supplies from PDVSA.
Ford Motor Co, General Motors Co, Honda Motors Co Ltd, Stellantis NV & Toyota Motor Corp: A group of automakers warns that U.S. President Donald Trump’s planned 25% tariffs on imported vehicles will harm consumers and reduce vehicle sales.
Goldman Sachs Group Inc: Proxy adviser Glass Lewis recommends investors vote against the pay of top executives at Goldman Sachs, criticizing excessive retention awards.
Oracle Corp: The FBI is investigating a cyberattack at Oracle that led to the theft of patient data, with hackers attempting to extort medical providers.
PTC Therapeutics Inc: JPMorgan cuts the target price to $75 from $78, citing slower-than-expected growth and unfavorable trial outcomes.
Regeneron Pharmaceuticals Inc: JPMorgan cuts the target price to $1000 from $1100, anticipating competition from bEylea and potential disruptions in patient assistance.
Stellantis NV & Tesla Inc: Stellantis plans to buy CO2 reduction credits from Tesla in 2025 to meet EU regulatory requirements.
Tesla Inc: A fire broke out at a Tesla dealership in Rome, destroying 17 cars. Investigations into the cause are underway, including the possibility of arson.
Toyota Motor Co: Struggling to meet the surge in demand for hybrid vehicles, resulting in shortages of parts and months-long waits for buyers.
UBS AG: Reaffirmed it has no plans to leave Switzerland despite ongoing regulatory debates over the country’s biggest lender.
U.S. Bancorp: A plane registered to U.S. Bancorp Vice Chair Terry Dolan crashed in Minnesota, with investigations ongoing.
UniCredit: Italy’s second-largest bank has received ECB approval for its 14 billion euro all-share offer to buy Banco BPM.
Volvo Cars: Reappointed Hakan Samuelsson as CEO after warning of a challenging 2025.
Well Health Technologies Corp: RBC cuts the target price to C$7.5 from C$8.5 after a delay in its annual filings due to an ongoing investigation at Circle Medical.
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
