Global Markets
Canadian Markets
Canada’s main stock index traded slightly higher on a rise in opil and gold prices, but concerns persisted over the domestic economy, and government fiscial outlook. On Friday, data showed that Canada’s monthly gross domestic product (GDP) rebounded by 0.2% in July after three consecutive months of contraction. Growth was supported primarily by mining, manufacturing, and wholesale trade, which together offset weakness in other sectors. Economists had been closely monitoring the July GDP figure as a potential indicator of whether the economy would continue its downward trajectory into the third quarter, following a sharp 1.6% annualized contraction in Q2. While the modest rebound offers some relief, investors remain cautious amid concerns over slowing household consumption and persistent macroeconomic headwinds, including high inflation and interest rates.
American Markets
U.S. stocks rose on Friday, buoyed by investor relief after the PCE (Personal Consumption Expenditure) inflation report came in line with market expectations. The report appeared to temper fears of aggressive monetary tightening in the near term. However, market sentiment remained somewhat fragile as President Donald Trump used Truth Social to announce a new series of tariffs affecting a variety of imports. The new tariffs will impose duties ranging from 30% to 100% on several categories, including heavy trucks, kitchen cabinets, and bathroom vanities, while pharmaceutical imports will be subject to tariffs only if the producer has not established manufacturing facilities in the United States. The announcement added a layer of uncertainty for companies with exposure to these imports, particularly in the construction, automotive, and healthcare sectors.
European Markets
European markets rebounded from a three-week low, led by financial and industrial stocks. Spain’s economy showed stronger-than-expected growth in the second quarter, with GDP expanding 0.8% on a quarterly basis, surpassing the preliminary estimate of 0.7% released in July, according to the National Statistics Institute (INE). This better-than-expected performance was seen as a stabilizing factor for investor sentiment in the eurozone.
In Ireland, consumer sentiment edged higher, but analysts noted that the mood remained “anxious,” reflecting ongoing economic uncertainties and the impact of global market pressures affecting the country.
U.K. markets rose as longer-term inflation expectations climbed, signaling that the Bank of England (BoE) may continue to closely gauge price pressures. The rally was led by banks and consumer stocks, although investors remained largely unmoved by new tariff threats. Meanwhile, the pound suffered its largest weekly decline since July, as fiscal and macroeconomic worries collided, highlighting the challenges of navigating the current economic landscape.
Corporate Stock News
Alphabet Inc (GOOGL) & Meta Platforms Inc (META): Meta is in early-stage talks with Google Cloud to use Google’s Gemini AI models to improve ad targeting, signaling challenges in scaling its in-house AI despite large investments.
Amazon.com Inc (AMZN): AWS executives criticized slow product rollouts at its Reinvent event. Separately, India proposed easing foreign investment rules to let e-commerce firms like Amazon sell directly to overseas customers.
American Lithium Corp (LI) : The company increased its planned investment in the Falchani lithium project in Peru by 22% to $847 million, including a refinery. Construction is targeted for 2027, with lithium production expected after 2028, following a court ruling confirming ownership of 32 concessions.
Boeing Co (BA): A machinists’ strike in St. Louis reached 53 days, with no resolution in sight. Separately, Norwegian Air ordered 30 additional 737 MAX 8 jets, and Turkish Airlines agreed to buy 75 787s and 150 737 MAX planes.
Brookfield Asset Management Ltd (BAM:CA): Norway’s $2 trillion sovereign wealth fund committed $1.5 billion to a BAM energy transition fund, supporting renewable energy infrastructure across North America, South America, Europe, and Asia Pacific.
Costco Wholesale Corp (COST): Q4 revenue and profit beat estimates, with membership fees rising 14% to $1.72 billion. Same-store sales rose 6.4%, and earnings were $5.87 per share, surpassing analyst estimates.
Crinetics Pharmaceuticals Inc (CRNX): FDA approved Palsonify (paltusotine), the first once-daily oral treatment for acromegaly, a rare hormonal disorder caused by pituitary tumors.
JPMorgan Chase & Co (JPM): Sunil Dhupelia appointed head of equity capital markets international, relocating from Hong Kong to London.
Mirion Technologies Inc (MIR): JPMorgan initiates coverage with an overweight rating and $28 target, citing recurring revenue and structural demand in nuclear, medical, and research markets.
Mondelez International Inc (MDLZ): The company is transitioning to natural dyes for candies like Sour Patch Kids and Swedish Fish, aligning with consumer preferences and regulations.
Paramount Skydance Corp (PARA): Named former U.S. antitrust official Makan Delrahim as chief legal officer amid preparations for a bid for Warner Bros Discovery.
Ralph Lauren Corp (RL): JPMorgan raises target price to $430, citing North American demand, tariff mitigation, and cost-saving opportunities.
Six Flags Entertainment Corp (SIX): Activist investor Land & Buildings, holding a 2% stake, plans to push for a spin-off or sale of real estate, potentially valued at $6 billion.
Thor Industries Inc (THO): Jefferies raises target price to $100 after stronger Q4 earnings from higher motorized vehicle sales and other favorable factors.
Tiptree Inc (TIPT): DB Insurance of South Korea will acquire Tiptree’s specialty insurance unit, Fortegra, for $1.65 billion; Warburg Pincus will exit its 24% stake.
Valmont Industries Inc (VMI): JPMorgan initiates coverage with overweight rating and $480 target, highlighting strong backlog, infrastructure and agriculture exposure, and long-term earnings growth potential.
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.
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