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Market Wrap: pre-opening session |
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U.S. market futures lose some ground after U.S. stocks fell further yesterday, with the S&P 500 slipping 18 points (-0.27%) to 6,606, and the Nasdaq 100 down 69 points (-0.29%) to 24,355.
The Dow Jones declined 203 points (-0.44%) to 46,021.
Though being off their lowest points within the session, all the three major stock indexes marked their lowest closing levels so far in 2026.
No major economic stat is expected today in the U.S.
In Canada, producer price index is expected to be up 5.5% year-on-year in February after +5.4% in January. Also, retail sales are estimated to slip 0.3% month-on-month in February.
European indices are little changed. On the stat side, Germany's producer price index dropped 3.3% year-on-year in February vs -2.7% expected and -3.0% a month earlier.
Asian indexes were mostly down as Middle East conflict continues to dent sentiment.
WTI crude oil prices remain very volatile. They currently trade around 96.00 dollars. U.S. Treasury Secretary Scott Bessent said Washington may ease sanctions on Iranian crude held on tankers to help curb energy costs.
Gold and silver both rebounded from yesterday's lows but are set for a third straight weekly fall.
Bitcoin hovers around the 70,000 dollars level.
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Fedex (FDX), a package delivery service company, soars as quarterly adjusted EPS smashed estimates. Moreover, the company lifted full-year earnings guidance.
Super Micro Computer (SMCI), an IT company, plunges as it "was informed that the United States Attorney's Office for the Southern District of New York has unsealed an indictment of three individuals associated with the company in connection with an alleged conspiracy to commit export-control violations."
Planet Labs (PL), a provider of global, daily satellite imagery and insights, surges on better-than-expected quarterly earnings. Also, the company issued sales guidance that beat estimates.
Chipotle Mexican Grill (CMG), a fast food restaurant chain, was upgraded to "outperform" from "neutral" at Mizuho.
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No major earnings expected.
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On Wednesday, the S&P/TSX Composite Index plunged 1.87% to 32,313, while the S&P/TSX 60 Index retreated 1.63% to 1,885.
Orla Mining (OLA), a mining company, reported quarterly adjusted EPS down to 0.42 dollar from 0.97 dollar a year earlier, on sales down to 378.5 million dollars from 1.058 billion dollars a year ago. However, both figures beat estimates.
Power Corporation of Canada (POW), a diversified international management and holding company, was upgraded to "buy" from "hold" at TD Cowen.
K-Bro Linen (KBL), a linen and laundry services specialist, posted quarterly adjusted Ebitda up 51.9% to 26.4 million dollars on sales up 53.8% to 146.8 million dollars.
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