{"id":41889,"date":"2023-10-26T14:24:26","date_gmt":"2023-10-26T14:24:26","guid":{"rendered":"https:\/?p=41889"},"modified":"2023-10-26T14:28:08","modified_gmt":"2023-10-26T14:28:08","slug":"us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears","status":"publish","type":"post","link":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/","title":{"rendered":"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data"},"content":{"rendered":"

Markets Extend Tumble<\/h2>\n

The stock markets in both the United States and Canada have taken a hit again today, primarily due to mounting recession fears fueled by a range of concerning economic data points. Several key corporate earnings reports and updates are adding to the anxiety among investors. Here’s a rundown of the latest developments and their impact on the markets.<\/p>\n

Recession Fears and Market Downturn<\/strong><\/p>\n

Economic indicators pointing towards the possibility of an impending recession have cast a shadow over the stock markets in North America. Investors are concerned about the potential economic slowdown, which is reflected in the red figures seen today.<\/p>\n

Corporate Earnings Reports<\/strong><\/p>\n

    \n
  1. UPS Cuts Annual Revenue Forecast:<\/strong> United Parcel Service (UPS) has slashed its annual revenue forecast due to weak demand for delivery services. The global shipping giant’s announcement is seen as a reflection of changing consumer habits and the challenges of the post-pandemic world.<\/li>\n
  2. Southwest Airlines Profit Falls:<\/strong> Southwest Airlines reported a 30% decline in its third-quarter profit. This decrease is attributed to soaring labor and fuel costs. The airline also expects to receive higher aircraft deliveries from Boeing in 2023, which may signal a positive outlook for the aerospace industry.<\/li>\n
  3. Bunge Beats Third-Quarter Profit Estimates:<\/strong> In contrast to the downward trends, Bunge, an agribusiness and food company, exceeded expectations in its third-quarter profit. This could be seen as a sign of resilience within the agriculture sector.<\/li>\n
  4. IBM’s Positive Q3 Report:<\/strong> International Business Machines Corp (IBM) reported third-quarter revenue and profit figures that exceeded Wall Street targets. The IT software and consultancy services provider’s success in a challenging market is noteworthy.<\/li>\n
  5. Meta Platforms Inc’s Strong Performance:<\/strong> Meta Platforms Inc, formerly known as Facebook, beat expectations for its third-quarter profit and revenue. This was driven by its ongoing cost-cutting measures and increased spending on digital advertising ahead of the holiday season.<\/li>\n
  6. Northrop Grumman’s Positive Results:<\/strong> Northrop Grumman, a U.S. defense company, raised its annual revenue target for the second time this year. This increase is attributed to strong demand for weapons, resulting in robust third-quarter revenue and profit.<\/li>\n
  7. Royal Caribbean’s Upgraded Profit Forecast:<\/strong> Royal Caribbean Group raised its full-year profit forecast, citing higher ticket prices and consistent demand from affluent customers for leisure travel.<\/li>\n<\/ol>\n

    Analyst Ratings<\/strong><\/p>\n

    Analysts are closely watching these developments and adjusting their ratings and price targets for various companies:<\/p>\n

      \n
    1. Boeing Co:<\/strong> RBC Capital Markets lowered its target price for Boeing to $200 from $210 after the company reduced its 2023 guidance for the delivery of 737 jets.<\/li>\n
    2. Meta Platforms Inc:<\/strong> JPMorgan raised its target price to $420 from $400 following the company\u2019s strong third-quarter results and a better-than-expected 2024 spending outlook. On the flip side, Barclays Capital cut its target on Meta to $400.<\/li>\n
    3. First Quantum Minerals:<\/strong> RBC Capital Markets downgraded First Quantum Minerals to “Sector Perform” from “Outperform” and lowered the target to $38 from $42.<\/li>\n
    4. Adobe:<\/strong> Oppenheimer upgraded Adobe to “Outperform” with a $660 target price.<\/li>\n
    5. CP Rail:<\/strong> CIBC cut its target for CP Rail to $118 per share.<\/li>\n
    6. Microsoft:<\/strong> HSBC Securities upgraded Microsoft to a “Buy.”<\/li>\n<\/ol>\n

      Market Outlook<\/strong><\/p>\n

      Today’s market performance reflects concerns about a potential recession and a mixed bag of corporate earnings reports. As investors monitor these developments and analyst ratings, it remains a volatile time for the stock markets in the US and Canada. Traders will be keeping a close eye on economic data and corporate updates to gauge the future direction of these markets.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Markets Extend Tumble The stock markets in both the United States and Canada have taken a hit again today, primarily due to mounting recession fears…<\/p>\n","protected":false},"author":3,"featured_media":40893,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-41889","post","type-post","status-publish","format-image","has-post-thumbnail","hentry","category-blog","post_format-post-format-image"],"acf":[],"yoast_head":"\nOctober 26th-US and Canadian Markets Continue to Fall Amid Weak Data | Stock Target Advisor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data\" \/>\n<meta property=\"og:description\" content=\"Markets Extend Tumble The stock markets in both the United States and Canada have taken a hit again today, primarily due to mounting recession fears...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/\" \/>\n<meta property=\"og:site_name\" content=\"Stock Target Advisor\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/StockTargetAdvisor\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-26T14:24:26+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-26T14:28:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.stocktargetadvisor.com\/blog\/wp-content\/uploads\/2023\/10\/untitled-design-2023-10-03T183126.600.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"STA Research\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AdvisorTarget\" \/>\n<meta name=\"twitter:site\" content=\"@AdvisorTarget\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"STA Research\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/\"},\"author\":{\"name\":\"STA Research\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/e15ebb81d4f6861fcecbe1abc54e1cae\"},\"headline\":\"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data\",\"datePublished\":\"2023-10-26T14:24:26+00:00\",\"dateModified\":\"2023-10-26T14:28:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/\"},\"wordCount\":568,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#organization\"},\"articleSection\":[\"Market News & Insights\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/\",\"url\":\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/\",\"name\":\"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data | Stock Target Advisor\",\"isPartOf\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#website\"},\"datePublished\":\"2023-10-26T14:24:26+00:00\",\"dateModified\":\"2023-10-26T14:28:08+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.stocktargetadvisor.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#website\",\"url\":\"https:\/\/www.stocktargetadvisor.com\/blog\/\",\"name\":\"Stock Target Advisor\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.stocktargetadvisor.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#organization\",\"name\":\"Stock Target Advisor\",\"alternateName\":\"STA\",\"url\":\"https:\/\/www.stocktargetadvisor.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"http:\/\/stocktargetadvisor.com\/wp-content\/uploads\/2019\/10\/STAlogo.jpeg\",\"contentUrl\":\"http:\/\/stocktargetadvisor.com\/wp-content\/uploads\/2019\/10\/STAlogo.jpeg\",\"width\":\"225\",\"height\":\"225\",\"caption\":\"Stock Target Advisor\"},\"image\":{\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/StockTargetAdvisor\/\",\"https:\/\/twitter.com\/AdvisorTarget\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/e15ebb81d4f6861fcecbe1abc54e1cae\",\"name\":\"STA Research\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/13a95c75b44f95ead23f47f0bf10667e57b44ec5150180c8a39a39361cf56169?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/13a95c75b44f95ead23f47f0bf10667e57b44ec5150180c8a39a39361cf56169?s=96&d=mm&r=g\",\"caption\":\"STA Research\"},\"description\":\"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.\",\"url\":\"https:\/\/www.stocktargetadvisor.com\/blog\/author\/sta-research\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data | Stock Target Advisor","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/","og_locale":"en_US","og_type":"article","og_title":"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data","og_description":"Markets Extend Tumble The stock markets in both the United States and Canada have taken a hit again today, primarily due to mounting recession fears...","og_url":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/","og_site_name":"Stock Target Advisor","article_publisher":"https:\/\/www.facebook.com\/StockTargetAdvisor\/","article_published_time":"2023-10-26T14:24:26+00:00","article_modified_time":"2023-10-26T14:28:08+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-content\/uploads\/2023\/10\/untitled-design-2023-10-03T183126.600.png","type":"image\/png"}],"author":"STA Research","twitter_card":"summary_large_image","twitter_creator":"@AdvisorTarget","twitter_site":"@AdvisorTarget","twitter_misc":{"Written by":"STA Research","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/#article","isPartOf":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/"},"author":{"name":"STA Research","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/e15ebb81d4f6861fcecbe1abc54e1cae"},"headline":"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data","datePublished":"2023-10-26T14:24:26+00:00","dateModified":"2023-10-26T14:28:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/"},"wordCount":568,"commentCount":0,"publisher":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#organization"},"articleSection":["Market News & Insights"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/","url":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/","name":"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data | Stock Target Advisor","isPartOf":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#website"},"datePublished":"2023-10-26T14:24:26+00:00","dateModified":"2023-10-26T14:28:08+00:00","breadcrumb":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/us-and-canadian-markets-continue-to-fall-amid-weak-data-recession-fears\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.stocktargetadvisor.com\/blog\/"},{"@type":"ListItem","position":2,"name":"October 26th-US and Canadian Markets Continue to Fall Amid Weak Data"}]},{"@type":"WebSite","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#website","url":"https:\/\/www.stocktargetadvisor.com\/blog\/","name":"Stock Target Advisor","description":"","publisher":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.stocktargetadvisor.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#organization","name":"Stock Target Advisor","alternateName":"STA","url":"https:\/\/www.stocktargetadvisor.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/logo\/image\/","url":"http:\/\/stocktargetadvisor.com\/wp-content\/uploads\/2019\/10\/STAlogo.jpeg","contentUrl":"http:\/\/stocktargetadvisor.com\/wp-content\/uploads\/2019\/10\/STAlogo.jpeg","width":"225","height":"225","caption":"Stock Target Advisor"},"image":{"@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/StockTargetAdvisor\/","https:\/\/twitter.com\/AdvisorTarget"]},{"@type":"Person","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/e15ebb81d4f6861fcecbe1abc54e1cae","name":"STA Research","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.stocktargetadvisor.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/13a95c75b44f95ead23f47f0bf10667e57b44ec5150180c8a39a39361cf56169?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/13a95c75b44f95ead23f47f0bf10667e57b44ec5150180c8a39a39361cf56169?s=96&d=mm&r=g","caption":"STA Research"},"description":"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.","url":"https:\/\/www.stocktargetadvisor.com\/blog\/author\/sta-research\/"}]}},"_links":{"self":[{"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/posts\/41889","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/comments?post=41889"}],"version-history":[{"count":2,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/posts\/41889\/revisions"}],"predecessor-version":[{"id":41891,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/posts\/41889\/revisions\/41891"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/media\/40893"}],"wp:attachment":[{"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/media?parent=41889"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/categories?post=41889"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.stocktargetadvisor.com\/blog\/wp-json\/wp\/v2\/tags?post=41889"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}