Global Markets
Canadian Markets
Canada’s main stock index (S&P/TSX) fell as investors grew cautious over the possible U.S. involvement in the Israel and Iran conflict, which has been driving oil higher amid supply concerns. Investors are waiting on April’s Canadian retail sales, due Friday, to gauge whether consumer spending remains resilient amid ongoing tariff uncertainty. Trading volumes in Canada were light as U.S. markets were closed for Juneteenth, dampening overall liquidity.
American Markets
U.S. markets remained closed for the Juneteenth holiday, but American traders have begun absorbing the Fed’s latest update. The central bank paused on rates yet retained a hawkish posture, flagging persistent inflation threats linked to tariffs and geopolitical disruptions . Market sentiment remains split: some view the economy as resilient, while Fed officials point to growing weakness driven by tariff-induced price pressures . Meanwhile, the U.S. dollar held steady, oil climbed on Middle East worries, and spot gold inched higher amid safe-haven demand .
European Markets
European stocks retreated broadly as geo-political fears and tariff inflation risks weighed on sentiment Norway’s central bank surprised markets by cutting its policy rate by 25 bp to 4.25%, the first cut in five years, citing a milder inflation outlook and flagging further reductions later in 2025 The Norwegian krone weakened sharply following the decision .
UK Stocks also dropped, as the Bank of England held rates steady and warned that global conditions remain “highly unpredictable”, maintaining policy at a 2 low as UK equities followed the broader European downturn.
Corporate News
Airbus:
Airbus secured additional aircraft orders on Wednesday, bringing its total to $21 billion at this week’s relatively quiet Paris Air Show. Boeing, in contrast, made no new announcements following the Air India 787 crash.
Chevron:
Chevron is seeking buyers for its 50% stake in the Singapore Refining Company (SRC), with bids invited from parties including joint venture partner PetroChina, according to sources familiar with the matter.
Empire Co. (Sobeys, Safeway):
Empire Company, parent of Sobeys and Safeway, reported higher Q4 profits and announced a dividend increase.
Google (Alphabet Inc.):
Alphabet’s Google faced a setback as an EU court adviser supported antitrust regulators in their case upholding a €4.34 billion fine imposed on the company.
Mars Inc.:
Mars has not offered any remedies to EU regulators reviewing its proposed $36 billion acquisition of Pringles-maker Kellanova, according to an update on the European Commission’s website.
Nippon Steel:
Nippon Steel’s CEO stated that the U.S. government’s golden share in U.S. Steel will not affect the company’s management autonomy if its takeover proceeds.
Pernod Ricard:
Pernod Ricard is reorganizing its business into two main divisions to simplify operations and respond to declining European spirits sales.
Shell:
Shell CEO Wael Sawan said the company is exercising extreme caution with its Middle East shipping routes due to rising tensions between Israel and Iran.
Tesla:
Democratic lawmakers in Texas have asked Tesla to delay the launch of its robotaxi service in Austin until September, when new autonomous driving legislation is scheduled to take effect.

STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
The pause by the Fed and the cautious approach from Canadian markets show just how much geopolitical uncertainty is weighing on investor sentiment. It will be interesting to see how long-term inflation trends and retail sales data influence the market in the coming months.