Global Markets
Canadian Markets
Canada’s S&P/TSX Composite Index jumped nearly 2%, led primarily by strength in the mining sector as gold and silver prices advanced. Rising precious metal prices boosted major producers such as Barrick Gold (ABX:CA) and Agnico Eagle Mines (AEM:CA), lifting the materials index and helping offset weakness in more rate-sensitive sectors. Investors rotated into defensive commodity plays amid ongoing global macro uncertainty.
Canada’s trade delegation headed to Mexico in an effort to strengthen bilateral trade ties and diversify export channels. The initiative reflects Ottawa’s broader strategy to reduce dependency on U.S. demand and deepen North American supply-chain integration under evolving trade conditions.
American Markets
US markets traded mixed as investors digested January inflation data. The S&P 500 (SPX) and Dow Jones Industrial Average (DJIA) fluctuated, while the Nasdaq Composite (IXIC) showed relative volatility as traders reassessed rate-cut expectations. Sector performance was uneven, with real estate leading declines, down 1.5%, as higher-for-longer rate expectations pressured property and REIT valuations. Telecommunications fell 1.3%, while consumer staples slipped 0.2%, reflecting cautious positioning in defensive names.
The U.S. Consumer Price Index rose 2.4% year-over-year in January, marking a 0.3 percentage point decline from the previous month and the lowest annual reading since May 2025. Core CPI, which excludes food and energy, increased 2.5% annually. Both readings aligned closely with economist expectations, reinforcing the narrative that inflation is gradually cooling but not yet fully converged to the Federal Reserve’s 2% target. The data modestly eased bond yield pressure but did not materially shift policy expectations.
European Markets
European markets traded mixed as well, with investors weighing ongoing concerns about AI-driven technological disruption alongside a mixed batch of corporate earnings. Broader trade concerns also remained in focus, as U.S. tariffs and competitive pressures from China continued to weigh on European export data. Spain’s final EU-harmonised inflation rate stood at 2.4% in January. German wholesale prices rose 1.2% year-over-year, suggesting persistent upstream price pressures.
In the UK, the FTSE 100 extended gains as the index was supported by corporate takeover activity and growing expectations that the Bank of England may move toward monetary easing later in the year. These factors helped counterbalance global concerns about AI-related sector disruption and broader trade uncertainties. UK Charity the Joseph Rowntree Foundation reported that hardship in the UK has intensified, with approximately 6.8 million people now living in “very deep poverty,” marking the highest level recorded in more than three decades, as the economy weakens.
Corporate Stock News
Air Canada (AC:CA) – Forecast 2026 EBITDA of C$3.35B–C$3.75B, roughly in line with expectations, supported by strong international and premium demand. Q4 swung to a C$296M profit from a prior-year loss; revenue rose to C$5.77B.
Airbnb Inc (ABNB-Q) – Forecast Q1 revenue above estimates on resilient premium demand. Q4 revenue beat expectations, though EPS declined year-over-year.
Apple Inc (AAPL-Q) – Won a defense verdict in its patent dispute with Optis Wireless, overturning prior damage awards tied to 4G technology.
Applied Materials Inc (AMAT-Q) – Forecast Q2 revenue and profit above expectations on strong AI and memory-chip demand; Jefferies raised its target price to $415 from $360.
Arista Networks Inc (ANET-N) – Forecast revenue above estimates on continued data-center demand; quarterly results topped expectations.
Coinbase Global Inc (COIN-Q) – Posted a surprise quarterly loss as trading volumes weakened amid a digital-asset selloff.
DexCom Inc (DXCM-Q) – Beat Q4 estimates on strong demand for glucose monitoring systems and reaffirmed 2026 revenue guidance.
Eversource Energy (ES-N) – Reported higher Q4 profit driven by gas segment strength; 2026 guidance slightly below consensus.
Expedia Group Inc (EXPE-Q) – Forecast 2026 gross bookings and revenue above expectations, supported by strong B2B demand.
Federal Realty Investment Trust (FRT-N) – Forecast 2026 FFO above estimates on strong leasing demand at grocery-anchored centers.
Humana Inc (HUM-N) – JPMorgan cut its target price to $180 from $274, citing Medicare Advantage margin risks.
Ingersoll Rand Inc (IR-N) – Beat Q4 profit estimates on solid industrial demand but issued 2026 guidance slightly below expectations.
Magna International Inc (MG-N) – Forecast 2026 EPS above estimates despite a Q4 electronics-unit charge; quarterly earnings beat expectations.
Maplebear Inc (Instacart) (CART-Q) – Beat Q4 estimates and forecast current-quarter profit above expectations on strong essentials demand and advertising growth.
Mohawk Industries Inc (MHK-N) – Beat Q4 estimates, supported by commercial construction demand, though Q1 guidance came in below expectations.
Pinterest Inc (PINS-N) – Forecast Q1 revenue below expectations; Piper Sandler cut its target to $21 from $33 despite record engagement.
Public Storage (PSA-N) – Forecast 2026 core FFO below expectations and announced CEO transition.
Rivian Automotive Inc (RIVN-Q) – Forecast 53% delivery growth in 2026 ahead of R2 launch; capital expenditures expected to increase materially.
Roku Inc (ROKU-Q) – Forecast annual revenue above estimates, benefiting from growth in ad-supported streaming.
TC Energy Corp (TRP:CA) – Beat Q4 adjusted profit estimates on stronger North American operations and rising natural gas demand.
Vertex Pharmaceuticals Inc (VRTX-Q) – Forecast 2026 revenue largely in line with expectations; quarterly results modestly exceeded estimates.
Waste Connections Inc (WCN-N) – Jefferies cut its target to $207 from $210, citing cautious 2026 guidance despite solid Q4 performance.
Wynn Resorts Ltd (WYNN-Q) – Missed Q4 profit expectations due to weaker Las Vegas and regional property performance.
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