Global Markets
Canadian Markets
Canada’s S&P/TSX index rose, supported by a higher gold price and stronger-than-expected domestic economic data. Statistics Canada reported that GDP growth surged to 2.6% in Q3, significantly above economists’ forecast of 0.05%, providing a boost to investor sentiment despite ongoing concerns over inflation and household debt levels.
American Markets
US stock markets moved broadly higher on a shortened trading session, with technology stocks leading the gains. Intel shares jumped 10% on reports that the chipmaker may be partnering with Apple on next-generation semiconductors, fueling optimism across the tech sector.
European Markets
European stocks also advanced, though with mixed underlying economic signals. Germany reported inflation rising to 2.6% in November, higher than expected, while unemployment fell less than anticipated. Irish retail sales fell 0.5% in October, reflecting weak consumer spending, and the Swiss economy contracted slightly in Q3, weighed down by lower pharmaceutical exports.
In the UK, stocks climbed modestly, though sentiment remains cautious. Investors continue to digest the government’s recent budget, which painted a challenging economic outlook and left questions about fiscal policy and interest rate direction unresolved.
Corporate Stock News
Alibaba Group Holding Ltd
Released Quark AI glasses in China, priced from 1,899 yuan, running on Alibaba’s Qwen AI model. Glasses integrate with Alipay and Taobao, offering translation and instant price recognition. Analysts see it as a “life assistant” device.
Alphabet Inc & Microsoft Corp
Google (Alphabet) dropped its EU antitrust complaint against Microsoft’s cloud practices after regulators launched a broader cloud-sector investigation, opting for collaboration under the new process instead.
Amazon.com Inc
Amazon to offer loans to small businesses in India, leveraging Axio acquisition. Federal judge granted Amazon a preliminary injunction blocking New York labor law affecting private-sector labor relations.
Apple Inc
EU regulators will examine Apple Ads and Apple Maps for compliance with the Digital Markets Act as potential “gatekeepers.” Strong iPhone demand during China Singles’ Day boosted smartphone sales.
Baidu Inc
Baidu began large-scale layoffs amid AI competition and declining ad revenue, potentially affecting up to 40% of some business units. Layoffs expected through year-end.
Biogen Inc
Jefferies raised target price to $210 from $190, citing better valuation and expected sales acceleration.
Boeing Co
Will produce 96 AH-64E Apache helicopters for Poland under a $4.7B foreign military sales contract. Deliveries begin in 2028, largest Apache order by a non-U.S. customer.
CME Group Inc
Trading halted on futures and FX markets due to cooling issue at CyrusOne data centers, affecting several global brokers temporarily.
Deere & Co
RBC cut target price to $541 from $542, citing slowing growth in the equipment manufacturer’s business.
Intel Corp
Intel denied allegations that executive Wei-Jen Lo leaked trade secrets, affirming strong IP protection policies.
JPMorgan Chase & Co
Plans a new tower in London’s Canary Wharf, investing billions over six years and creating 7,800 jobs, described as a vote of confidence in UK growth.
Morgan Stanley
Fined $117.1M by Dutch prosecutors for dividend tax evasion; fine separate from taxes already settled with authorities.
Nvidia Corp
Defends its valuation after criticism from investors like Michael Burry; Chinese AI firms training models overseas to access Nvidia chips amid U.S. export restrictions.
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.
