Global Markets
Canadian Markets
Canada’s main stock index, the TSX, advanced even as gold and oil prices retreated, pressured by a stronger U.S. dollar and profit-taking activity, while investors positioned ahead of upcoming quarterly earnings reports from the country’s major banks. Supporting sentiment, Statistics Canada reported that Canada’s merchandise trade deficit narrowed to $1.3 billion in December, as export growth outpaced the rise in imports, indicating improved external demand conditions.
American Markets
U.S. stocks also moved higher, recovering modestly from the previous session’s broad-based selloff, as investors continued to assess the uncertain economic impact of President Donald Trump’s tariff policies and rising concerns tied to artificial intelligence-related valuations. In corporate news, Advanced Micro Devices shares surged approximately 10% after the semiconductor company announced a multi-year collaboration agreement with Meta Platforms, reinforcing optimism around AI-driven revenue growth.
European Markets
European markets, drifted lower as investors refrained from placing significant directional bets amid persistent trade uncertainty, with banking stocks leading the declines. The European Union stated that the United States had breached a trade agreement and signaled readiness to retaliate.
UK stocks traded flat, with the FTSE 100 held in check as weakness in banks offset gains in mining stocks, while tariff-related concerns continued to weigh on sentiment. UK retail sector faced mounting pressure, with retailers cutting jobs at the fastest pace in nearly three years. Employment in the sector declined at the sharpest rate since May 2023 in the year to February, and firms expect further reductions next month, according to data released by the Confederation of British Industry (CBI). Businesses cited weak consumer demand and poor weather conditions, alongside broader economic headwinds, as contributing factors to the deteriorating outlook for the high street.
Corporate Stock News
Air Canada (TSX: AC) said it will resume full operations from Montreal, Toronto and Vancouver to Puerto Vallarta on Tuesday and restart Toronto–Guadalajara service on Wednesday after suspensions tied to regional violence in Mexico.
Apple Inc (NASDAQ: AAPL) plans to shift some Mac Mini production to Houston later this year, expanding U.S. manufacturing capacity while continuing most device production in Asia.
Aritzia Inc (TSX: ATZ) saw BMO raise its price target to C$163 from C$160, citing strong early-2026 sales momentum across digital and U.S. store channels.
Athabasca Oil Corp (TSX: ATH) had its target lifted by RBC to C$9 from C$7 on a more constructive 2027 outlook supported by expansion and improving market access.
Bank of Nova Scotia (TSX: BNS, NYSE: BNS) reported higher first-quarter profit as net interest income rose to C$5.58 billion, while provisions for credit losses edged higher.
Diamondback Energy Inc (NASDAQ: FANG) missed fourth-quarter profit expectations and outlined 2026 production guidance alongside $3.6–$3.9 billion in planned capital spending.
Dollar General Corp (NYSE: DG) had its target price raised by Oppenheimer to $170 from $145 on stronger sales consistency and margin expansion.
Domino’s Pizza Inc (NASDAQ: DPZ) saw Jefferies cut its target to $450 from $465 due to a challenging operating backdrop.
Erie Indemnity Co (NASDAQ: ERIE) reported lower fourth-quarter profit due to a $100 million charitable contribution, though fee and investment income increased.
Freshpet Inc (NASDAQ: FRPT) had its target raised by JPMorgan to $80 from $70 despite elevated forward spending.
Hims & Hers Health Inc (NYSE: HIMS) forecast first-quarter revenue below estimates due to shipping-related headwinds in weight-loss products.
Home Depot Inc (NYSE: HD) beat fourth-quarter sales estimates and maintained its fiscal 2026 comparable sales outlook.
Imperial Oil Ltd (TSX: IMO, NYSE: IMO) was downgraded by RBC to underperform, citing stretched valuation relative to peers.
International Business Machines Corp (NYSE: IBM) shares fell sharply after commentary on AI-driven COBOL modernization tools.
JPMorgan Chase & Co (NYSE: JPM) expects mid-teens growth in first-quarter investment banking fees and markets revenue.
Keysight Technologies Inc (NYSE: KEYS) projected second-quarter results above expectations and saw its target raised to $300 from $255.
ONEOK Inc (NYSE: OKE) posted lower fourth-quarter earnings per share due to reduced transportation income following asset divestitures.
Superior Plus Corp (TSX: SPB) saw Scotiabank cut its target to C$6.50 from C$8.50 on weaker forecasts and higher balance-sheet risk.
Teledyne Technologies Inc (NYSE: TDY) had its target raised by Jefferies to $770 from $710 on stronger government and international sales.
United Parcel Service Inc (NYSE: UPS) will proceed with $150,000 buyout offers to drivers after a court rejected a union challenge.
Vir Biotechnology Inc (NASDAQ: VIR) entered a partnership with Astellas to develop a prostate cancer therapy, securing significant upfront and milestone payments.
Whitecap Resources Inc (TSX: WCP) signed a 10-year natural gas supply agreement with Centrica starting in 2028.
Woodside Energy Group Ltd (ASX: WDS, NYSE: WDS) reported annual profit above expectations, supported by strong production from the Sangomar project.
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