Global Markets
Canadian Markets
Canada’s S&P/TSX Composite jumped almost 2 percent on de-escalation talk for the middle east, as energy infrastructure raised the probability of supply disruptions. During intraday trading, 9 of the 11 sectors in the TSX posted gains today, with the IT sector leading themarket higher. Gold experienced a sharp liquidation phase, with Gold falling more than 5% to a four-month low. This move extended what was already its steepest weekly decline in decades, signaling a decisive shift in macro positioning. The Bank of Canada stated that under current pre-existing macro factors it would have cut rates going forward, however the conflict in the middle east could cause monetary policy to shift the other way to combat inflation if energy prices stay elevated.
American Markets
US stocks rose as stocks rebounded as traders bought the dip on the pause of military operations in Iran, as oil pulled back under $90. The U.S. 10 Year Treasury climbed to eight-month highs, a move that reflects both inflation expectations, driven by higher energy prices, and a repricing of central bank policy paths, particularly for the Federal Reserve. Simultaneously, the U.S. dollar strengthened materially, supported by safe-haven flows and widening rate differentials.
European Markets
European stocks rose, however the overall market tone remained unerved as investors weighed the stagflationary implications of higher oil prices, slower growth combined with persistent inflation. The ECB forecasts that AI may boost productivity in the eurozone by at least 4% in 10 years.
UK stocks dropped on losses in Utilities, Oil & Gas Producers and telecommunications sectors. UK job postings rose to 1.53 million in February 2026, up 5% month-over-month but only 0.7% year-over-year, indicating a labour market that remains resilient but is no longer strongly expanding. The increase suggests continued hiring demand and tight labour conditions, particularly in lower-wage, high-turnover sectors, while underlying growth in higher-skilled areas appears more subdued. This persistent tightness is likely to keep wage pressures elevated, complicating the policy outlook for the Bank of England by reinforcing a higher-for-longer interest rate stance, as the labour market is not cooling quickly enough to materially ease inflationary pressures.
Corporate News
Air Canada (AC:CA): An Air Canada Express jet collided with a fire truck during landing at LaGuardia, resulting in fatalities and injuries, increasing regulatory scrutiny on aviation safety.
Alphabet Inc. (GOOGL), Amazon.com Inc. (AMZN) & Apple Inc. (AAPL): European broadcasters are pushing regulators to classify their smart TV and assistant platforms as “gatekeepers,” potentially subjecting them to stricter EU antitrust rules.
American Electric Power (AEP): Partnering with SoftBank on a $33B AI data center and gas-powered energy project, signaling large-scale infrastructure investment tied to AI demand.
Arthur J. Gallagher & Co. (AJG): Jefferies cut its price target to $239 from $280, citing weakening global property insurance pricing despite reaffirmed guidance.
Berkshire Hathaway Inc. (BRK.B): Formed a strategic partnership with Tokio Marine to expand global insurance and reinsurance operations.
Blackstone Inc. (BX): Its flagship private credit fund posted its first loss in over three years and faced elevated withdrawals, highlighting liquidity concerns.
Coca-Cola Co. (KO): Rising packaging costs tied to geopolitical tensions may force selective price increases in key markets.
EQT Corporation (EQT): Jefferies raised its target price to $76 from $71, citing strong cost advantages and resilient cash flow generation across gas cycles.
EyePoint Pharmaceuticals (EYPT) & Ocular Therapeutix (OCUL): EyePoint filed a lawsuit alleging misleading statements and competitive interference over retinal drug developments.
Faraday Future (FFIE): The SEC closed its investigation with no enforcement action, removing a major overhang on the stock.
FedEx Corporation (FDX): Raised its full-year outlook, supported by strong Express segment performance despite fuel cost pressures.
Goldman Sachs Group Inc. (GS), Morgan Stanley (MS), Citigroup Inc. (C) & JPMorgan Chase & Co. (JPM): Proposed regulatory changes would lower capital requirements, freeing capital for lending and shareholder returns.
Intuit Inc. (INTU): Won an appeals court decision overturning FTC restrictions on marketing TurboTax as “free.”
Mattel Inc. (MAT): Jefferies cut its target to $18 from $19, citing margin pressure from higher input and tariff costs.
McCormick & Company Inc. (MKC): In discussions with Unilever over a potential combination of food businesses, signaling sector consolidation.
Netflix Inc. (NFLX): Expanding into live global events, including a major BTS concert, highlighting growth in live content.
Nexstar Media Group Inc. (NXST) & Tegna Inc. (TGNA): Completed a $3.54B acquisition, significantly expanding Nexstar’s U.S. broadcast footprint.
NVIDIA Corporation (NVDA): Secured a multi-year deal to supply 1 million AI chips to Amazon Web Services through 2027.
Novartis AG (NVS): Acquiring a cancer drug candidate for up to $3B to strengthen its oncology pipeline.
PG&E Corporation (PCG): Jefferies cut its target to $19 from $20, citing reduced confidence in wildfire-liability reform and crowded positioning.
Super Micro Computer Inc. (SMCI): A co-founder resigned following criminal charges tied to illegal AI chip exports.
Synopsys Inc. (SNPS): Activist investor Elliott built a large stake, pushing for margin and operational improvements.
Tesla Inc. (TSLA): Planning large-scale AI chip manufacturing facilities in Texas to support future computing demand.
United Airlines Holdings Inc. (UAL): Cutting flights and capacity in response to expectations of sustained high oil prices.
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