Global Markets
Canadian Markets
Canada’s TSX index traded largely flat on Wednesday, reflecting a cautious investor sentiment amid simmering geopolitical tensions and concerns over potential global conflicts. Gains in commodity prices, particularly gold and oil, helped support the market, while silver experienced a notable spike, drawing attention from investors seeking safe-haven assets. Energy and mining stocks led the upside, buoyed by rising oil prices and robust demand forecasts, while other sectors, including technology, financials, and consumer discretionary stocks dropped, keeping the broader index range-bound.
American Markets
U.S. stocks fell sharply on Wednesday as investors digested a combination of disappointing earnings from major banks and mixed economic data, creating a cautious mood across the markets. Financial stocks, in particular, were under pressure after several large Banks, like Wells Fargo reported weaker-than-expected results, raising concerns about profitability, credit exposure, and future lending growth in a potentially slowing economy.
In addition, geopolitical tensions contributed to market unease, as investors were closely monitoring unrest in Iran and potential responses from the U.S. government, which heightened risk aversion and increased demand for safe-haven assets such as U.S. Treasuries, gold, and the Japanese yen.
European Markets
European shares, fell after climbing to record highs, with gains in utility and healthcare stocks offsetting weakness in media and defense sectors, while a rally in metals prices lifted mining stocks.
In the U.K., the FTSE 100 reached new highs, fueled by strength in mining and energy stocks. However, investor optimism was tempered by declining business confidence, which fell to a three-year low according to a recent survey, highlighting underlying concerns about the domestic economic outlook.
Corporate Stock News
Alphabet Inc, Meta Platforms Inc & Microsoft Corp – Hedge funds held long positions in large-cap tech stocks such as Alphabet, Microsoft, and Meta, reflecting continued conviction in AI-driven software and services, while short-bets persisted in IBM and Strategy.
Amazon.com Inc – The company discussed cost adjustments with vendors following reduced U.S. tariffs on Chinese imports and plans to appeal an Italian antitrust fine, aiming to mitigate expenses and regulatory impacts.
Bank of America Corp – Fourth-quarter net income rose to $7.6 billion as trading revenue increased 10%, supported by client activity and volatility in the markets amid Federal Reserve rate-cut speculation.
Broadcom Inc, Check Point Software, Fortinet Inc & Palo Alto Networks Inc – China banned the use of certain cybersecurity software from these U.S. and Israeli companies over national security concerns, highlighting trade tensions and tech replacement efforts.
Canadian Natural Resources Inc & Tourmaline Oil Corp – Canadian Natural is in talks to acquire a $1B+ portfolio of natural gas assets from Tourmaline in the Montney basin, pending regulatory approval, as the country’s shale producers prepare to increase LNG exports.
Casey’s General Stores Inc – Jefferies raised the target price to $700 from $625, citing stronger multiyear growth, higher fuel margins, and improved EBITDA outlook.
Coca-Cola Co – The company abandoned plans to sell Costa Coffee after bids from private equity firms came in below expectations, halting the auction process.
Duke Energy Corp – Jefferies lowered the target price to $125 from $126, citing regulatory uncertainty in North Carolina following elections, despite solid long-term capex and growth plans.
Figure Technology Solutions Inc – Jefferies raised the target price to $55 from $40 after stronger-than-expected loan volumes boosted EBITDA expectations.
Ford Motor Co – CEO Jim Farley emphasized the need for a North American free trade deal amid U.S.-Mexico-Canada Agreement reviews, calling integration vital for automakers’ competitiveness.
KKR & Co Inc – The firm acquired a 50% stake in RWE’s Norfolk Vanguard East and West offshore wind projects in the U.K., investing in $15B+ in renewable energy infrastructure by 2029–2030.
Kraken Robotics Inc – National Bank raised the target to C$8.75 from C$7.50 due to strong operational execution and long-term growth prospects, while Desjardins Securities increased its target to C$9.50.
Mercury Systems Inc – Jefferies raised the target price to $90 from $84, anticipating stronger second-half sales from backlog conversion and improved margins via automation.
Netflix Inc, Paramount Skydance Corp & Warner Bros Discovery – Netflix plans an all-cash offer for Warner Bros Discovery’s studios and streaming businesses, competing with Paramount’s higher cash bid, to expedite a multi-month acquisition process.
Nvidia Corp – The U.S. granted approval for China-bound shipments of Nvidia’s H200 AI chips under specific security requirements, potentially restarting exports amid regulatory oversight.
Tesla Inc – CEO Elon Musk announced that the full self-driving (FSD) software will only be available as a subscription after February 14, amid ongoing NHTSA investigations into safety concerns.
Wells Fargo & Co – Fourth-quarter net income rose to $5.36 billion, as interest income increased and regulators lifted a $1.95 trillion asset cap, allowing growth beyond $2 trillion in total assets.
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