Global Markets
Canadian Markets
Canada’s TSX dopped sharply, with all major sectors finishing in negative territory as commodity prices came under pressure. Gold and silver retreated sharply, while crude oil also posted meaningful losses, weighing heavily on resource-linked stocks.
The weakness was particularly pronounced in the technology, base metals, and industrial sectors, reflecting both softer input prices and broader risk aversion.
The pullback in base metals signaled concerns about global growth momentum, while industrial names tracked the decline in oil and cyclical demand expectations. Meanwhile, the Canadian dollar traded down to 73.40 cents U.S., reflecting a combination of softer commodity prices and a cautious global macro backdrop.
American Markets
American stocks also dropped deep across the board, led by weakness in the technology sector. Investor sentiment shifted as concerns emerged that artificial intelligence–driven disruption could pressure margins and reshape competitive dynamics across parts of the technlogy landscape.
Cisco Systems reported fiscal second-quarter (ended January 24, 2026) with revenue of $15.3 billion, with GAAP net income of $3.2 billion ($0.80 per share) and non-GAAP net income of $4.1 billion ($1.04 per share).
Despite solid profitability, the stock fell 12%, marking its worst single-day decline since 2022, as investors reacted to margin pressure from rising memory component costs, which weighed on outlook expectations and overshadowed the earnings figures.
This prompted a rotation out of high-multiple growth names and into more defensive positioning. At the same time, markets turned their focus to the upcoming U.S. Consumer Price Index (CPI) release. Expectations for near-term Federal Reserve rate cuts had already been tempered by a stronger-than-anticipated January employment report, which reinforced the narrative of a resilient labor market and sticky inflation risks.
Brad Bernstein, managing director at UBS Private Wealth Management, noted that the CPI print will be pivotal for short-term market direction. He indicated that if January inflation rises by less than 0.4% month-over-month, markets could respond positively, potentially triggering a rebound in stocks and a decline in U.S. Treasury yields. Such an outcome would likely revive rate-cut expectations and support valuation multiples, particularly in interest-rate-sensitive sectors.
European Markets
European markets traded mixed, with gains in luxury goods manufacturers were driven by stronger-than-expected earnings results, which offered reassurance about consumer demand resilience. However these gains were offset by weakness in financials and industrial stocks, as concerns over economic growth and interest rate trajectories persisted across the region.
U.K. stocks fell, with the FTSE 100 pressured by a broader global risk-off tone. Domestic data added to the cautious mood after fourth-quarter GDP growth slowed to just 0.1%. The services sector stagnated, and business investment declined, reinforcing concerns about economic fragility. The soft growth print complicates the Bank of England’s policy outlook, as policymakers must balance sluggish economic activity against lingering inflation pressures.
Corporate Stock News
Albemarle Corp. (ALB): The lithium producer posted a larger-than-expected quarterly loss of $455.9 million and announced it would idle a major Australian processing plant amid weak lithium prices, though lithium sales volumes rose 23%.
Ameren Corp. (AEE): The utility narrowly beat fourth-quarter earnings estimates on higher electricity rates and retail sales, reaffirmed its 2026 profit outlook, and received approval to proceed with its Big Hollow Energy Center project.
Applied Materials Inc. (AMAT): The company agreed to a $252 million settlement with the U.S. Commerce Department over illegal exports of chipmaking equipment to China’s SMIC without required licenses.
Birkenstock Holding plc (BIRK): The sandal maker maintained its annual revenue growth target but reported slightly below-estimate quarterly revenue and margin pressure due to currency impacts and U.S. tariffs..
Bombardier Inc. (BBD-B:CA) (BDRBF): The business jet manufacturer reported a 19% revenue increase to $3.69 billion in Q4, driven by higher aircraft deliveries, and forecast over $10 billion in 2026 revenue with improved free cash flow guidance.
Check Point Software Technologies Ltd. (CHKP): The cybersecurity firm beat fourth-quarter profit expectations with EPS of $3.40 and 6% revenue growth, and repurchased $425 million worth of shares.
Cisco Systems Inc. (CSCO): The company reported revenue above estimates but posted weaker-than-expected gross margins due to rising memory costs, while raising its 2026 revenue forecast.
Equinix Inc. (EQIX): The data center operator forecast 2026 revenue above estimates on strong AI-driven demand, though fourth-quarter revenue slightly missed expectations.
Etsy Inc. (ETSY): Jefferies lowered its price target to $55, citing lower peer valuations and concerns that traffic gains are supported by higher marketing spend and margin pressure.
Ford Motor Co. (F): Daiwa raised its price target to $14, pointing to a largely in-line 2026 outlook and expected stronger second-half EBIT despite tariff-related headwinds.
Grab Holdings Ltd. (GRAB): The company forecast 2026 revenue below expectations amid softer ride-hailing and delivery momentum but reiterated a long-term 20% compounded revenue growth outlook.
Inspire Medical Systems Inc. (INSP): Jefferies cut its price target to $66 due to reimbursement uncertainty and reduced fiscal 2026 sales guidance.
International Flavors & Fragrances Inc. (IFF): The company issued largely in-line 2026 guidance amid soft retail demand, while quarterly earnings slightly missed estimates despite revenue beating expectations.
Manulife Financial Corp. (MFC:CA) (MFC): The insurer reported lower fourth-quarter profit, with significant earnings declines in its Canada and U.S. segments, leading to reduced net income year-over-year.
McDonald’s Corp. (MCD): The company beat fourth-quarter global comparable sales and earnings estimates, driven by value-focused promotions. Jefferies raised its price target to $375 on strong same-store sales momentum.
Motorola Solutions Inc. (MSI): The company forecast 2026 sales and earnings above expectations, supported by strong demand in public safety technology, and beat fourth-quarter estimates.
Paycom Software Inc. (PAYC): The payroll software provider projected 2026 revenue below expectations as businesses delay spending, though fourth-quarter revenue slightly exceeded estimates.
Restaurant Brands International Inc. (QSR:CA / QSR): The Burger King owner reported fourth-quarter same-store sales growth of 3.1%, surpassing analyst expectations on resilient traffic.
Rollins Inc. (ROL): The pest control company missed fourth-quarter revenue and earnings estimates, citing reduced consumer spending and margin compression.
Sun Life Financial Inc. (SLF:CA) (SLF): The insurer posted a sharp increase in fourth-quarter profit, supported by strong growth in its U.S. and Canada divisions and improved wealth management earnings.
Tyler Technologies Inc. (TYL): The company forecast 2026 revenue below expectations amid tighter government budgets and missed fourth-quarter revenue and earnings estimates.
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