Global Markets
Canadian Markets
Canada’s TSX moved higher on strong gains in gold, pushing the market gold market sector higher. Canada’s economy is projected to grow about 1.7% in 2025, but underlying conditions are deteriorating as Q3’s strong GDP figure was driven mainly by collapsing imports rather than real momentum, with consumption, employment, and business investment weakening. High household debt, rising mortgage payments, a cooling housing market, and historically low business confidence are suppressing spending and investment. As a result, GDP growth is expected to slow to roughly 1.2% in 2026, easing inflation and likely forcing the Bank of Canada to cut rates to around 1.50% by late 2026.
Corporate Stock News
Adobe Inc. (ADBE)
Adobe forecast fiscal 2026 revenue and profit above Wall Street expectations, supported by strong demand for its design software and accelerating monetization of its AI-enabled products. The company highlighted rising adoption of its freemium tools, with monthly active users increasing 35% year over year to over 70 million. Adobe expects 2026 revenue between $25.90 billion and $26.10 billion, and will reorganize future reporting segments to emphasize subscription revenue and annual recurring revenue.
Alphabet Inc. (GOOGL)
Google appointed longtime executive Amin Vahdat as Chief Technologist for AI Infrastructure as it ramps up data-center and hardware spending, which may exceed $90 billion by year-end. Separately, Waymo recalled 3,067 autonomous vehicles due to a software issue affecting responses to stopped school buses; the issue was corrected through an update by November 17, according to U.S. regulators.
American Express Co. (AXP)
American Express reported a 9% increase in U.S. retail consumer spending during the Thanksgiving holiday week, easing concerns about softening seasonal trends. Platinum-level spending rose 13% in the same period, underscoring continued strength in high-end consumer demand.
Bank of America Corp. (BAC)
CEO Brian Moynihan said fourth-quarter markets revenue is expected to grow between a high-single-digit and 10% rate, with investment banking fees remaining flat. He noted healthy consumer spending, stable credit quality, and planned stock buybacks for the quarter.
BioNTech SE (BNTX)
Berenberg raised its target price to $155 from $150, citing strengthening confidence in the company’s pipeline and positive oncology-drug trial data.
BlackRock Inc. (BLK)
BlackRock sold a 7.1% stake in Spanish gas utility Naturgy for €1.7 billion through an accelerated share placement, reducing its stake to 11.42%. The sale follows BlackRock’s acquisition of Global Infrastructure Partners, which originally held the Naturgy position.
Cenovus Energy Inc. (CVE:CA) (CVE)
Cenovus forecast significantly higher crude oil production for 2026, between 945,000 and 985,000 boepd, well above its 2025 outlook. The company will allocate C$850 million to the recently acquired Christina Lake North asset from MEG Energy and expects total 2026 expenses of C$5.0–C$5.3 billion. Production is projected to rise to about 950,000 bpd by 2028.
Chewy Inc. (CHWY)
MoffettNathanson raised its target price to $50 from $48 following third-quarter revenue that exceeded expectations.
Coca-Cola Co. (KO)
Coca-Cola appointed Henrique Braun as CEO, succeeding James Quincey, who becomes executive chairman. Braun, a company veteran since 1996, previously served as COO and will assume the CEO role on March 31.
Ford Motor Co. (F)
SK On announced the end of its U.S. battery-plant joint venture with Ford as part of a strategic shift toward energy-storage systems. Ford will take full ownership of the Kentucky plants, while SK On will assume full ownership of the Tennessee facility.
Lumexa Imaging Holdings Inc. (LUMX)
Lumexa Imaging raised $462.5 million in its IPO, pricing shares at $18.50. The diagnostic-imaging provider, backed by WCAS, now carries a valuation of about $1.75 billion and operates 184 centers across 13 states.
Nordson Corp. (NDSN)
Nordson forecast fiscal 2026 profit above analyst expectations, projecting adjusted EPS of $10.80–$11.50 and revenue of $2.83–$2.95 billion. The company cited a $600 million backlog and improving demand across several end-markets.
Oracle Corp. (ORCL)
Oracle issued weaker-than-expected forecasts for revenue and profit while indicating fiscal 2026 capital expenditures will be $15 billion higher than previously estimated. The company also reported cloud-contract metrics below Wall Street expectations.
Separately, JPMorgan cut its target price on Oracle to $230 from $270 due to margin pressures from elevated AI-related spending.
Robex Resources Inc. (RBX:CA )
Robex improved its takeover proposal for Predictive Discovery, causing Perseus Mining’s competing A$2.1 billion offer to lapse. Robex’s amended deal values Predictive at approximately A$2.17 billion, leaving existing Predictive shareholders with about 53.5% of the merged company.
Synopsys Inc. (SNPS)
Synopsys beat quarterly revenue and profit estimates on strong demand for chip-design tools tied to AI and advanced computing. The company guided first-quarter revenue to $2.36–$2.42 billion.
Additionally, JPMorgan raised its target price to $650 from $600 following the strong results.
Warner Bros Discovery Inc. (WBD)
U.S. President Donald Trump said CNN should be sold as part of any merger involving parent company Warner Bros Discovery. Netflix and Paramount Skydance are exploring separate acquisition paths, with Paramount’s all-cash offer positioned as regulator-friendly. Several cable networks—including CNN, TNT, and TBS—may be spun off depending on the deal structure.
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Canada’s projected 1.7% growth in 2025 seems cautious given Q3’s GDP figure was driven by collapsing imports, will this impact TSX’s gold market sector momentum?