Global Market Update
Canadian Markets:
Canada’s TSX rose as gold prices declined and oil prices surged. The drop in gold was primarily due to a stronger U.S. dollar, a direct result of the tariff reduction deal between the U.S. and China. The increase in oil prices, boosted the energy sector, contributing significantly to the rise in Canadian equities. Investors interpreted the tariff de-escalation as a signal of easing economic tensions, prompting a more optimistic market outlook. A survey released today showed that consumer confidence rose slightly after new Prime Minister Mark Carney’s election win.
U.S. Markets:
American markets rallied across the board, after the U.S. and China reached an agreement to reduce tariffs. This development marked a pivotal moment in the ongoing trade war, alleviating fears of a prolonged economic conflict that had weighed heavily on global sentiment. The tariff reduction led to a stronger U.S. dollar, which subsequently pressured gold prices lower as investors moved away from safe-haven assets. The rally in U.S. equities was broad-based, with gains seen across industrial, technology, and consumer discretionary sectors.
European Markets:
European shares also moved higher following the positive trade news. Investors in the region were encouraged by the tariff de-escalation, which restored some confidence after weeks of trade-related uncertainty. However, U.S. President Donald Trump’s comments on European trade practices—stating that the EU is “in many ways nastier than China”—tempered the optimism somewhat, indicating that trade disputes with Europe might be the next focal point. Despite this, European markets saw gains, particularly in export-heavy sectors.
UK Markets:
The UK stock market also benefited from the tariff deal between the U.S. and China, with the energy sector experiencing a notable rise due to higher oil prices. However, the British pound fell as investors flocked to the strengthening U.S. dollar.
Stock News
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Algonquin Power & Utilities Corp.: Maintains Sector Perform with price targets of US$6.00 and US$5.50; market welcomes stable quarter and upcoming investor update.
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Alphabet Inc: Google agrees to pay $1.375 billion to Texas to settle data privacy allegations without admitting wrongdoing.
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Apple Inc: Considering price increases for its fall iPhone lineup, aiming to link hikes to new features rather than U.S.-China tariffs.
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BCE Inc: JPMorgan raises target price to C$29 from C$28 after mixed Q1 results and dividend cut.
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BHP Group Ltd & Rio Tinto Plc: U.S. judge blocks land transfer for copper mine due to Apache Stronghold’s legal challenge.
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Bristol-Myers Squibb Co: Reaches $700 million settlement with Hawaii over Plavix labeling, shared equally with Sanofi.
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Comstock Resources Inc: Gerdes Energy Research downgrades to Sell from Neutral, citing a 26% stock appreciation since January.
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CrowdStrike Holdings Inc: Wedbush raises target price to $475 from $395, noting increased market share and product expansion.
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CSX Corp: Signs tentative five-year contract with BLET covering 3,400 locomotive engineers, pending union ratification.
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Docebo Inc: Downgraded to Sector Perform from Outperform by ATB Capital Markets; target price cut to C$45 from C$75 due to lowered revenue growth forecast.
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Eli Lilly and Co: Reports superior results for Zepbound in a head-to-head trial against Novo Nordisk’s Wegovy for weight loss.
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Emerson Electric Co: JPMorgan raises target price to $113 from $110 after Q2 beat and improved full-year guidance.
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Lyft Inc: Daiwa Capital Markets raises target price to $16 from $14 following better-than-expected Q1 results.
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MAG Silver Corp & Pan American Silver: Pan American to acquire MAG Silver for $2.1 billion, accessing a 44% stake in the Juanicipio mine.
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Microsoft Corp: Negotiating with OpenAI to revise partnership terms, balancing equity and access to future AI advancements.
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Novartis AG: Continues to manufacture malaria and leprosy treatments despite uncertain funding, emphasizing humanitarian commitment.
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Uber Technologies Inc: Daiwa Capital Markets raises target price to $76 from $68 after increasing 2026 EBITDA estimates.
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Workday Inc: U.S. federal HR agency cancels controversial contract amid concerns over lack of competition.
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.
