Global Markets
Canadian Markets
Canada’s main stock index, the S&P/TSX Composite, slipped on Monday despite a modest uptick in gold and oil prices, which typically support resource-heavy Canadian equities. The decline reflected investor caution as manufacturing activity, though improving, remained in contraction territory. The Canadian Manufacturing Purchasing Managers’ Index (PMI) rose to 49.6 in October from 47.7 in September, marking its highest level since January. While the improvement signals a slower pace of decline, the sub-50 reading still indicates overall contraction in the sector. Economists noted that persistent weakness in new orders and employment continues to weigh on industrial momentum, although the data suggests tentative stabilization after months of deterioration.
American Markets
U.S. markets traded the start of the week mixed, reflecting a split in investor sentiment across sectors. The Nasdaq Composite outperformed, driven by renewed enthusiasm for artificial intelligence–related stocks, with Amazon (AMZN) and Nvidia (NVDA) leading the gains. Both companies benefited from optimism surrounding their AI chip partnership, which aims to accelerate cloud computing performance and expand enterprise AI adoption — a key long-term growth driver. Investors rotated towards high-growth technology names while remaining selective in other sectors amid persistent uncertainty around the Federal Reserve’s policy path.
European Markets
European trading sentiment was mixed, as French manufacturing sector remained in contraction during October, according to PMI figures that underscored ongoing industrial weakness. Ireland’s manufacturing activity also slowed, down to a 10-month low, reflecting reduced export demand and cautious business sentiment.
In the United Kingdom,stocks declined even as factory output showed signs of recovery, helped by Jaguar Land Rover’s plant reopening, which provided a temporary boost to manufacturing data. Investors are continuing to be concerned over the weakenss in the economy, and the government’s fiscal outlook as the UK budget looms in the end of November.
Corporate News
AbbVie Inc (ABBV) – JPMorgan raised its target price to $260 from $250, citing strong quarterly results driven by Skyrizi and Rinvoq, improved guidance, and solid momentum across core therapeutic areas.
Bank of America Corp (BAC) – The bank promoted Denis Manelski and Soofian Zuberi as co-heads of global markets, restructuring leadership to strengthen trading operations after 14 consecutive quarters of revenue growth.
Berkshire Hathaway Inc (BRK.A) – The conglomerate reported record $381.7 billion in cash holdings and a 34% rise in operating profit to $13.49 billion, signaling cautious market positioning ahead of Warren Buffett’s transition from CEO.
BP plc (BP) – BP agreed to sell minority stakes in its U.S. pipeline assets in the Permian and Eagle Ford basins to Sixth Street for $1.5 billion as part of its $20 billion divestment plan, a move analysts expect will modestly reduce leverage.
Chevron Corp (CVX) – Chevron announced plans to explore for oil and gas offshore Guinea-Bissau in the MSGBC basin, securing operatorship and a 90% working interest in two exploration blocks, further expanding its West African footprint.
Cigna Group (CI) – Jefferies cut its target price to $310 from $336 after third-quarter results revealed higher costs tied to pharmacy transition and weaker margins in the health insurance exchange business.
CompoSecure Inc (CMPO) – The fintech company, backed by former Honeywell CEO David Cote, agreed to buy Husky Technologies from Platinum Equity for $5 billion, partly funded by a $2 billion PIPE at $18.50 per share.
ConocoPhillips (COP) – The energy giant began drilling the Essington-1 exploration well offshore eastern Australia, marking the first phase of its Otway exploration program to supply new natural gas to the domestic market.
CrowdStrike Holdings Inc (CRWD) – Wedbush raised its target price to $600 from $525, highlighting strong growth in its AI-powered cybersecurity platform and accelerating enterprise adoption of the Falcon suite.
Exxon Mobil Corp (XOM) – CEO Darren Woods warned that Exxon may exit the EU if the Corporate Sustainability Due Diligence Directive remains unchanged, citing potential fines of up to 5% of global revenue under the regulation.
Iren Ltd (IREN), Microsoft Corp (MSFT), & Nvidia Corp (NVDA) – IREN signed a $9.7 billion cloud services agreement with Microsoft to provide access to Nvidia’s GB300 processors over five years, bolstering AI and data center infrastructure.
Lockheed Martin Corp (LMT) – The U.S. is expediting production of F-16V fighter jets for Taiwan, with 50 aircraft currently in assembly, of which 10 are expected to begin flight tests this year and deliveries slated for 2026.
Palantir Technologies Inc (PLTR) – Wedbush raised its target price to $230 from $200, citing growing AI platform momentum, strong commercial demand, and new partnerships with Snowflake and Nvidia that enhance its enterprise positioning.
Polestar Automotive Holding UK plc (PSNY) – Polestar received a Nasdaq non-compliance notice after its share price fell below $1, giving the company until April 29, 2026, to regain compliance amid ongoing EV market pressures.
Spirit AeroSystems Holdings Inc (SPR) – Reported a larger quarterly loss of $724 million due to persistent supply chain costs, though revenue rose 8% year over year to $1.59 billion, reflecting steady demand from Boeing and Airbus.
Take-Two Interactive Software Inc (TTWO) – Jefferies raised its target price to $300 from $270, supported by stronger mobile and NBA 2K performance and optimism for GTA VI’s upcoming release cycle.
Teck Resources Ltd (TECK-B:CA) – Activist investor Palliser Capital urged Rio Tinto (RIO) to make a “now or never” counterbid for Teck and restructure into a copper-focused powerhouse, potentially rivaling its planned merger with Anglo American.
Toromont Industries Ltd (TIH:CA) – TD Cowen raised its target price to C$180 from C$179, citing robust execution across segments, improving outlooks in infrastructure and mining, and expected margin recovery by 2026.

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.
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