Global Markets
Canadian Markets
Canada’s TSX rose on a rise in crude oil and gold prices, which helped lift the energy and mining shares after several sessions of volatility. Investor sentiment was also bolstered by stronger-than-expected earnings from Royal Bank of Canada and National Bank of Canada. Both lenders reported results that exceeded analyst expectations, reinforcing the view that Canada’s banking sector remains resilient despite a mixed economic backdrop and higher credit-loss provisions across the industry.
American Markets
US stocks advanced for a second straight session as traders increased their bets on a Federal Reserve rate cut later this month. The shift in expectations followed a surprise decline in private-sector employment, with ADP reporting that U.S. private employers shed 32,000 jobs in November. The weak reading highlighted more cracks in the labour market, and raised concerns that hiring momentum has stalled. According to ADP’s revised figures, October saw a gain of 47,000 jobs, but this followed job losses in both August and September. The data showed that job creation has essentially flattened in the second half of the year, with small businesses facing the strongest headwinds amid subdued consumer demand and rising labour costs.
European Markets
European markets traded slightly lower as weakness in the financial sector weighed on broader indices. Germany’s services PMI slipped for November, signaling cooling activity in Europe’s largest economy, while France’s services PMI edged higher, underscoring uneven economic momentum across the Eurozone.
UK stocks declined, led by bank shares, after recently announced tax increases raised concerns about their impact on economic growth. Investors remain wary that tighter fiscal policy could constrain lending activity, business investment, and consumer spending in the months ahead.
Corporate Stock News
Altagas Ltd (ALA:CA)
JPMorgan raised its target price to C$47 from C$45, citing strong earnings visibility, attractive dividend growth, and disciplined balance-sheet management.
Alphabet Inc (GOOGL)
YouTube will comply with Australia’s new under-16 social-media ban, locking out users under 16. Google criticized the law but said the update would be implemented within days.
American Eagle Outfitters Inc (AEO)
The retailer raised its annual comparable-sales outlook, supported by strong holiday-season demand and effective marketing. Q3 comps rose 4%, beating expectations, and EPS of $0.53 topped forecasts. Barclays raised its target to $20 from $14 following the beat.
Bank of America Corp (BAC)
India’s central bank approved Vikram Sahu as CEO of Bank of America India, finalizing a leadership transition after pending regulatory review.
CrowdStrike Holdings Inc (CRWD)
CrowdStrike raised its Q4 revenue outlook to $1.29–$1.30B, above expectations, driven by growing adoption of AI-enhanced cybersecurity solutions. Q3 revenue rose 22% to $1.23B. Scotiabank raised its target price to $613 from $600 after a clean beat.
CSW Industrials Inc (CSWI)
JPMorgan raised its target price to $350 from $300, citing confidence in long-term growth, strong execution, and durable demand across industrial end markets.
Groupe Dynamite Inc (GRGD:CA)
Scotiabank raised its target to C$73 from C$49, driven by expectations of strong Q3 revenue from robust same-store sales and new store openings.
HSBC Holdings Plc (HSBC)
Brendan Nelson was appointed permanent chairman after an internal and external review. Nelson will guide the bank’s strategic focus on Asia following a major restructuring.
Marvell Technology Inc (MRVL)
Marvell will acquire Celestial AI for $3.25B to boost its next-gen AI semiconductor capabilities. The company expects ~$10B in revenue next fiscal year, including a 25% jump in data-center revenue.
Microchip Technology Inc (MCHP)
Microchip raised Q3 revenue and EPS guidance, now expecting revenue near the high end of $1.11–$1.15B and EPS at $0.40, driven by stronger bookings and sequential growth.
National Bank of Canada (NA:CA)
National Bank reported Q4 adjusted profit of C$1.16B (C$2.82/share), up from C$928M (C$2.58), supported by strong wealth-management performance and cost discipline.
Netflix Inc (NFLX) & Warner Bros Discovery Inc (WBD)
Netflix is discussing a potential acquisition of WBD’s studios and streaming unit. Netflix argues that a combined Netflix + HBO Max bundle would lower consumer costs and address antitrust concerns, though no final agreement is in place.
Okta Inc (OKTA)
Okta raised its Q4 revenue forecast to $748–$750M, above expectations, reflecting strong demand for identity and access management solutions tied to AI enterprise adoption. Piper Sandler cut its target price to $95 from $110, citing slowing growth metrics and cautious FY26 prospects.
Rivian Automotive Inc (RIVN)
Rivian will recall 34,824 U.S. vehicles due to a faulty seat-belt pretension cable. An over-the-air update and inspections will be provided, with replacements as needed.
Royal Bank of Canada (RY:CA)
RBC reported strong Q4 results, with capital-markets net income rising to C$1.43B from C$985M. Adjusted net income rose to C$5.55B (C$3.85/share) from C$4.44B (C$3.07).
Strategy Inc. (MicroStrategy) (MSTR)
MicroStrategy is engaging with MSCI about a potential removal from its indices. JPMorgan estimates up to $8.8B in potential outflows if index providers follow suit. The review decision is expected January 15.
Tesla Inc (TSLA)
BYD outsold Tesla in Germany in November with 4,026 units, up nine-fold YoY, while Tesla sales fell 20.2% YoY to 1,763 units. Year-to-date Tesla registrations are down 48.4%.
Valero Energy Corp (VLO)
Valero plans upgrades to its Port Arthur refinery in February to boost crude-distillation capacity from 235,000 bpd to 260,000 bpd, including improvements to heavy-residue processing.
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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