Global Markets
Canadian Markets
Canada’s TSX dropped broadly, led by pressure in commodity-linked sectors. Falling oil and base metal prices weighed on energy and mining stocks, eroding one of the market’s primary sources of recent support. At the same time, housing-related sentiment softened as prospective homebuyers stepped back amid concerns about the broader economic outlook, elevated borrowing costs, and affordability constraints.
American Markets
American markets were mixed, as the NASDAQ grinded higher, supported by selective strength in large-cap technology, while broader indices showed limited direction. Economic data provided a degree of reassurance, as a private payrolls report indicated a stabilizing labor market. Private payrolls rose by 41,000 in December, slightly below expectations but consistent with a cooling yet orderly labour backdrop, reinforcing expectations that economic growth is moderating rather than deteriorating sharply.
European Markets
European markets closed mostly lower, with the notable exception of Germany. Investor sentiment across the region was dampened by heightened geopolitical uncertainty following comments from U.S. President Donald Trump regarding Greenland, which added to existing global risk concerns.
UK equities also declined, led by weakness in energy and mining stocks, while data showed housebuilding activity falling at its fastest pace since the pandemic, underscoring ongoing strain in the housing sector amid higher rates and weak demand.
Corporate News
Arrowhead Pharmaceuticals Inc (ARWR) had its price target raised by Chardan Capital Markets to $80 from $60 after the company reported encouraging initial interim data from its phase I/IIa obesity trials.
Berkshire Hathaway Inc. (BRK.A, BRK.B) raised the salary of new CEO Greg Abel to $25 million, far exceeding the $100,000 annual salary that Warren Buffett earned for over four decades. Abel became CEO on January 1 and previously earned $21 million in 2024, $20 million in 2023, and $16 million plus a $3 million bonus in 2022.
Centene Corp (CNC) had its target price raised by Jefferies to $43 from $32, citing an improved FY26 outlook for Medicaid medical loss ratio and Health Insurance Exchange margins, supported by program-specific benefits and expected rate adjustments.
Centrus Energy Corp (LEU) was selected by the U.S. Department of Energy for a $900 million task order to expand uranium enrichment capacity at its Piketon, Ohio site, part of $2.7 billion in total enrichment-related awards aimed at reducing reliance on Russian supply over the next decade.
CF Industries Holdings Inc (CF) announced that CFO Gregory Cameron will step down effective February 15, appointing Richard Hoker as interim CFO while commencing the search for a permanent replacement.
Chevron Corp (CVX) is partnering with Quantum Energy Partners to bid for the $22 billion international assets of Russian oil major Lukoil, with plans to split the assets if a deal is reached.
Chevron Corp (CVX), ConocoPhillips (COP), and Exxon Mobil Corp (XOM) are expected to meet with U.S. President Donald Trump later this week to discuss ways to revive Venezuela’s oil sector, with Chevron currently the only U.S. major operating there.
GameStop Corp (GME) unveiled a potential $3.54 billion performance-based compensation package for CEO Ryan Cohen, which hinges on dramatically increasing the company’s market value and profits; the package includes no guaranteed salary, cash bonus, or stock options.
Goldman Sachs Group Inc (GS) topped the 2025 global M&A rankings with $1.48 trillion in deals, maintaining its leading position in a year marked by high-stakes political developments and larger merger activity.
KKR & Co Inc (KKR) agreed to acquire sports-focused private equity firm Arctos Partners for approximately $1 billion; Arctos holds stakes in teams across the NBA, MLB, NHL, and MLS.
Meta Platforms Inc (META) is facing a review by Chinese officials over its $2 billion acquisition of AI startup Manus for possible technology control violations, while a U.S. appeals court is considering allowing lawsuits claiming social media platforms are addictive to young users to proceed.
Qualcomm Inc (QCOM) is in discussions with Samsung Electronics for contract manufacturing of two-nanometer chips, with design work already completed for near-term commercialization.
Steel Dynamics Inc (STLD) and SGH submitted an $8.92 billion all-cash buyout bid for Australia’s BlueScope Steel, with investors hoping the offer will be increased; the BlueScope board has yet to make a recommendation.
TPG Inc (TPG) had its target price raised by JP Morgan to $78 from $76 following the company’s strategic agreement with life insurer Jackson Financial, which is considered modestly positive relative to its overall business.
Valero Energy Corp (VLO) will continue supplying Northern California gasoline after its Benicia refinery ceases operations in April, using a combination of existing inventories and imports, following guidance from California Governor Gavin Newsom.
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