Global Markets
Canadian Markets
Canada’s TSX dropped as crude oil prices fell, as investors maintained a cautious stance ahead of the Bank of Canada’s upcoming interest rate decision. The central bank is expected to navigate a delicate balance, addressing inflationary pressures while fostering economic growth. Data showed that Canada’s rental prices are slowly softening.
American Markets
U.S. equity markets dropped across the board, with major indices under pressure as investors await Wednesday’s crucial inflation report. The data is anticipated to provide insights into the trajectory of inflation and could heavily influence the Federal Reserve’s decisions at its upcoming monetary policy meeting. A higher-than-expected inflation reading might bolster the case for continued rate hikes, while a softer print could ease concerns about prolonged tightening. Meanwhile, the U.S. dollar edged higher, reflecting a cautious mood among traders and its status as a safe-haven asset ahead of potential market volatility.
European Markets
In Europe, major indices snapped an eight-session winning streak, dragged down by a technology-led selloff that mirrored declines on Wall Street. This retreat underscores the global interconnectedness of tech stocks, with European markets often taking cues from overnight U.S. trading. Investors also grappled with mixed signals about the region’s economic recovery and the potential implications of persistent inflationary pressures on the European Central Bank’s policies. The ECB also noted that the Eurozone’s low productivity is more of an economic threat than tariffs.
UK stocks dropped almost 1 percent, as data revealed only 10 percent of households can afford to buy an average-priced home in England, according to government figures released, further pushing economic concerns.
Japanese Markets
Japan’s Nikkei Index closed higher, supported by a weaker yen. Key sectors, including automotive and technology, saw gains as investors capitalized on favorable currency dynamics and the optimism surrounding these industries’ international revenue prospects.
Corporate Stock News
AllianceBernstein Holding LP & UBS Group AG
- AllianceBernstein plans to sue Switzerland for $225 million following the erasure of $17 billion in Credit Suisse debt during UBS’s takeover.
Amazon.com Inc & eBay Inc
- The UK mandates online marketplaces contribute more to recycling costs for electronic waste.
- Amazon plans quick grocery delivery trials in India, with a 15-minute target.
Ansys Inc & Synopsys Inc
- Synopsys offers remedies to EU antitrust concerns over its $35 billion acquisition of Ansys.
Apollo Global Management Inc
- London’s Canary Wharf secures a £610M refinancing loan from Apollo, with higher interest costs replacing bonds maturing soon.
Boeing Co
- Production of the Boeing 737 MAX jetliner restarts after a seven-week strike, essential for fulfilling 4,200 pending orders.
Bristol-Myers Squibb Co
- Berenberg raises the target price to $60 from $55, citing strong expectations for Cobenfy sales.
Celanese Corp
- CEO Lori Ryerkerk will step down; COO Scott Richardson will assume the role. Edward Galante becomes Chair of the Board.
C3.ai Inc
- Raised fiscal 2025 revenue forecast to $378M–$398M due to strong demand for AI software.
Fox Corp & News Corp
- Rupert Murdoch loses a bid to consolidate family trust control. It will split control among his four oldest children after his death.
GSK Plc
- Its experimental cancer drug Blenrep reduces mortality by 42% in multiple myeloma patients compared to existing treatments.
JPMorgan Chase & Co
- PricingDirect and Alumni launch services for private equity valuations, aiding compliance with SEC rules.
Kinder Morgan Inc
- Expects 2025 earnings of $1.27 per share and $8.3 billion in adjusted EBITDA, boosted by growth in natural gas pipelines.
Marathon Digital Holdings Inc
- JPMorgan raises the target price to $23 from $12, reflecting higher Bitcoin prices and expanded mining capacity.
Meta Platforms Inc
- Piper Sandler increases the target price to $670 from $650, highlighting leadership in AI through its Llama model.
Micron Technology Inc
- Receives $6.1 billion in CHIPS Act subsidies for new semiconductor facilities in New York and Idaho.
MongoDB Inc
- Raises annual profit and revenue forecasts due to strong Atlas database service growth.
Oracle Corp
- Revenue misses estimates, dropping shares significantly. Predicts total cloud revenue exceeding $25B in fiscal 2025.
Pinterest Inc
- Piper Sandler lowers the target price to $36 from $41, citing potential headwinds in Q4 guidance.
Shell Plc
- Settled a lawsuit with Greenpeace, which will pay £300,000 and limit future protests at specific sites.
Starbucks Corp
- Appoints Tony Yang as the first Chief Growth Officer for its China business amid recent leadership changes.
Stellantis NV
- Stellantis Plans a €4.1B EV battery factory in Spain with CATL, targeting production by 2026.
Stifel Financial Corp
- JPMorgan starts coverage with a neutral rating and a $120 target price, citing improved investment banking prospects.
Taseko Mines Ltd
- National Bank of Canada reduces the target price to C$4.25 due to lower copper price forecasts for 2025–2026.
Teck Resources Ltd
- National Bank cuts the target price to C$77.50 from C$85 and downgrades to ‘Sector Perform,’ anticipating a focus on development projects.
TotalEnergies SE
- CEO urges France to simplify renewable energy project permits, comparing Germany’s faster approval rates.
Volkswagen AG
- Struggles to address crises at German VW plants amid ongoing worker strikes, despite constructive talks with unions..
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.
