Global Markets
Canadian Markets
Canada’s commodity-heavy main stock index rose sharply on Friday, buoyed by gains in both oil and gold prices. Resource-linked sectors provided the bulk of the support, helping the TSX outperform broader global peers. Domestic housing data offered a mixed signal, with Toronto home sales rising 8.5% in September, but prices continued to drop, suggesting demand remains resilient but affordability constraints are weighing on valuations.
American Markets
U.S. stocks traded mixed after the three major indexes closed at record highs in the previous session. Investors weighed the resilience of the economy against looming political risks, with the uncertainty surrounding the U.S. government shutdown which was pushing the U.S. dollar toward its weakest weekly performance since late July. Despite near-term market turbulence, Goldman Sachs CEO David Solomon struck an optimistic note, forecasting the U.S. economy to accelerate growth into 2026, though he warned that elevated equity valuations could pose downside risks, and expected the markets to contract to adjust to tradional valuation metrics. Surveys show a growing share of American workers worry about job losses due to AI-driven efficiencies, highlighting the tension between productivity gains and social-economic risks.
European Markets
European stocks were on track for solid weekly gains, but traded mixed in intraday trading, led by strength in banking, mining, and defense sectors. Optimism over corporate resilience has supported sentiment despite lingering concerns about inflationary pressures.
UK markets ended the day at record highs, powered by strong performances in financial stocks. However, economic undercurrents remained fragile, as UK business activity grew at its slowest pace in five months, according to PMI data. Investors balanced optimism over market momentum with caution over slowing growth in the services sector, which remains critical to the UK economy.
Corporate Stock News
Alphabet Inc (GOOGL) – YouTube deleted hundreds of AI-generated Bollywood videos with over 16 million views following a Reuters report and an intellectual property lawsuit from celebrity couple Abhishek Bachchan and Aishwarya Rai Bachchan.
Apple Inc (AAPL) – Apple removed ICE-tracking apps from its App Store at the request of the Trump administration, citing security concerns raised by the Justice Department.
Applied Materials Inc (AMAT) – The chip equipment maker warned of a $600 million revenue hit in 2026 after new U.S. export restrictions to China, with shares falling in extended trading.
BlackBerry Ltd (BB:CA) – TD Cowen resumed coverage with a Hold rating and $5 target, citing QNX growth and margin improvements.
BlackRock Inc (BLK) – Its Global Infrastructure Partners unit is in talks to acquire Aligned Data Centers in a $40 billion deal, reflecting surging AI-driven demand for data center infrastructure.
Boeing Co (BA) – Delivery of the long-delayed 777X jet was pushed back to 2027, with analysts expecting Boeing to take a $1–$4 billion charge on the program, which has already incurred $10 billion in costs.
Brookfield Corp (BN:CA) – JP Morgan raised its price target to $83 from $73, reflecting stronger earnings growth expectations into 2026.
Chevron Corp (CVX) – A fire broke out at its El Segundo refinery in California, one of the largest U.S. refineries, though no injuries were reported; it remains unclear how production will be affected.
Colgate-Palmolive Co (CL) – Piper Sandler initiated coverage with a Neutral rating and $84 target, citing strong brand equity and growth opportunities in Latin America.
Enbridge Inc (ENB:CA) & South Bow Corp – Alberta Premier Danielle Smith said the province is close to a deal with Ottawa to enable a new oil export pipeline, though tanker bans and environmental commitments remain sticking points.
General Dynamics Corp (GD) – Its IT unit won a $1.25 billion contract to support the U.S. Army in Europe and Africa with communications and mission command services.
Occidental Petroleum Corp (OXY) – CEO Vicki Hollub said proceeds from its $9.7 billion OxyChem sale to Berkshire Hathaway will be used to cut debt, offsetting lost cash flow. Separately, Gerdes Energy Research cut its price target by $7 to $70 due to weaker returns from divestitures and carbon capture investments.
Oracle Corp (ORCL) – The company confirmed some of its E-Business Suite customers received ransomware-related extortion emails tied to previously known vulnerabilities, with hackers demanding up to $50 million.
Palantir Technologies Inc (PLTR) – A U.S. Army memo flagged “fundamental security” risks in the next-generation battlefield communications platform developed with Palantir, warning of major vulnerabilities in access controls.
Procore Technologies Inc (PCOR) – Berenberg initiated coverage with a Buy rating and $84 target, citing strong demand in the architecture and construction software market.
Tesla Inc (TSLA) – Tesla began selling its Cybertruck in Qatar, expanding Middle East operations after entering Saudi Arabia earlier this year, as it seeks growth outside slowing U.S. and China markets.
Tronox Holdings Plc (TROX) – JP Morgan downgraded the stock to Neutral from Overweight, citing weaker titanium dioxide demand, pricing pressure, and tariff uncertainty.
USA Rare Earth Inc – Shares rose after its CEO confirmed talks with the White House on boosting domestic rare earth production, following China’s export halt earlier this year.
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.
Despite the political risks, it’s reassuring to hear that Goldman Sachs is optimistic about the U.S. economy. But the uncertainty surrounding the government shutdown and AI-related job fears could certainly create bumps along the way.