Global Markets
Canadian Markets
Canadian stocks dropped on Friday as the action in the commodity sector was mixed, with traders increasingly pricing out the likelihood of a near-term Bank of Canada rate cut, following a stronger-than-anticipated job report. Canada added a net 53,600 jobs in November, while the unemployment rate unexpectedly fell to 6.5%, according to Statistics Canada. Economists had forecasted a loss of 5,000 jobs and a rebound in unemployment to 7%, making November the third straight month of surprisingly resilient hiring, although all the gains were in part-time employment, with 9000 job losses in full-time positions.
American Markets
U.S. stocks moved higher, as the Personal Consumption Expenditures (PCE) price index report, the Federal Reserve’s preferred inflation gauge showed a increase if 0.3% month over month, nudging annual inflation up from 2.7% to 2.8% in September. This marks the highest annual rate since April 2024, according to data from the Commerce Department. Despite the uptick, consumer sentiment improved in early December as Americans grew more confident about easing long-term inflation pressures, providing additional support to U.S. markets, and hopes of a rate cut added fuel to the upswing.
European Markets
European markets traded Friday mixed, as traders weighed optimism surrounding the potential Federal Reserve rate cut for next week’s meeting. against a background of lingering concerns about economic softness across the eurozone.
UK stocks dropped and ended the week lower as energy and financial stocks underperformed. Housing data added little relief, as Halifax reported that UK home prices were flat in November, underscoring ongoing weakness in the property market and consumer weariness. Meanwhile, the political debate intensified as Foreign Secretary David Lammy argued that rejoining the EU customs union could help boost the British economy.
Corporate Stock News
Advanced Micro Devices Inc. (AMD)
AMD CEO Lisa Su said the company has licenses to ship certain MI308 chips to China and is prepared to pay a 15% U.S. export tax under the Biden administration’s agreement.
Amazon.com Inc. (AMZN)
An Italian Amazon logistics unit paid ~€180 million and discontinued a worker-monitoring system, ending an investigation into alleged tax fraud and labor-law violations.
Apple Inc. (AAPL)
Apple appointed Meta’s chief legal officer Jennifer Newstead as its next general counsel and senior vice president, replacing Kate Adams, who will retire late next year.
Bank of Montreal (BMO:CA)
Scotiabank raised its target price on Bank of Montreal to C$187 from C$179 following strong fourth-quarter earnings.
Chevron Corp. (CVX)
Chevron’s Australian unit approved the $1.98 billion Gorgon Stage 3 offshore development to supply backfill gas to its existing LNG facilities.
Cooper Companies Inc. (COO)
Cooper began a formal strategic review to enhance shareholder value, issued stronger-than-expected guidance, and named Colleen Jay as the next board chair. JPMorgan also raised its target price to $78 from $66.
Ford Motor Co. (F)
Ford recalled more than 108,000 Escape vehicles due to unsecured liftgate hinge covers, and nearly 12,000 Lincoln MKTs over potentially detaching door trim panels.
Hewlett Packard Enterprise Co. (HPE)
HPE projected weaker-than-expected first-quarter revenue as AI server orders shift to the second half of the year but raised fiscal 2026 EPS guidance to $2.25–$2.45.
ITT Inc. (ITT)
ITT is in advanced negotiations to acquire SPX Flow in a deal valued above $4.5 billion, though no final agreement has been reached.
Kroger Co. (KR)
Kroger will close three Ocado-powered fulfillment centers and cancel a planned fourth, triggering a $350 million payment to Ocado. JPMorgan also cut its target price to $71 from $73.
Microsoft Corp. (MSFT)
LG Electronics said it is exploring broad data-center technology cooperation with Microsoft, though no formal agreement has been finalized.
Netflix Inc. (NFLX) & Warner Bros Discovery Inc. (WBD)
Netflix entered exclusive talks to acquire Warner Bros Discovery’s studio and streaming operations, submitting the top offer at $28 per share.
SentinelOne Inc. (S)
SentinelOne issued weaker-than-expected fourth-quarter revenue guidance and announced its CFO will depart in mid-January; Scotiabank cut its target price to $17 from $21.
Tesla Inc. (TSLA)
Tesla launched a lower-cost Model 3 variant in Europe, with deliveries beginning in early 2026, aiming to boost sales amid a more competitive EV market.
Ulta Beauty Inc. (ULTA)
Ulta raised full-year sales and profit forecasts after posting strong third-quarter revenue and earnings that exceeded estimates.
Visa Inc. (V)
Visa will relocate its European headquarters to London’s Canary Wharf, signing a long-term lease for 300,000 square feet at One Canada Square, with the move planned for 2028.
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.
It’s fascinating that the Canadian job market added so many part-time jobs, while the U.S. saw a slight increase in inflation but overall positive sentiment. It shows how nuanced these economic reports are, and how they can really shape investor behavior in unpredictable ways.