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Market Wrap: pre-opening session |
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U.S. market futures decline as oil rises. On Wednesday, U.S. stocks rallied after Donald Trump extended the ceasefire with Iran., pushing both the S&P 500 (up 73 points or 1.05% to 7,137) and the Nasdaq 100 (up 457 points or 1.73% to 26,937) to record-high closing levels.
The Dow Jones rebounded 340 points (+0.69%) to 49,490.
On the stat front in the U.S. the S&P Global manufacturing purchasing managers index is expected at 52.0 in April vs 52.3 a month earlier and the services index is estimated at 49.6 vs 49.8 in March. Also, the weekly initial jobless claims are expected at 218,000.
In Canada, producer price index is expected to be up 6.5% year-on-year in March after a 5.4% rise in February.
European stock indices are losing ground. France's CAC 40 outperforms its european peers as cosmetics giant L’Oréal posted quarterly sales that beat estimates. On the stat plan, eurozone's S&P Global Composite Index fell to 48.6 in April in first reading vs 50.2 expected and 50.7 in March. On the other hand, U.K.'s S&P Global Composite Index rose to 52 in April in first estimate vs 49.8 anticipated and 50.3 a month earlier.
Asian indexes traded red on worries over the Middle East conflict. On the stat side, Japan's S&P Global Composite Index was 52.4 in April in first reading vs 51.4 expected and 53 in March.
WTI crude oil prices continue to rise after jumping more than 3% yesterday as U.S.-Iran talks stall and disruptions to the Strait of Hormuz shipping persist. It currently trades around 95.00 dollars.
Gold and silver both lose ground as U.S. dollar rises.
Bitcoin eases after reaching yesterday an intraday-high around 79,500 dollars.
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IBM (IBM), a global technology and consulting firm focused on cloud and AI, drops as the company disappointed investors by not raising full-year guidance despite posting quarterly financial figures that beat estimates.
Tesla (TSLA), an electric-vehicle maker, declines after CEO Elon Musk warned that capital spending will increase substantially to finance the company’s self-driving and humanoid robot goals. Moreover, the company reported mixed quarterly financial figures. Earnings beat expectations while sales came in slightly below estimates.
Intel (INTC), a chipmaker, gains some ground after Elon Musk said that Tesla will use Intel’s advanced 14A manufacturing process for chips in its Terafab project.
Lockheed Martin (LMT), a defense and advanced technology company, drops as quarterly financial figures
CSX (CSX), an international freight transportation company, jumps as quarterly adjusted EPS topped expectations.
Texas Instruments (TXN), an analog chipmaker, soars on better-than-expected current quarter guidance. Quarterly financial figures also beat estimates.
Lululemon Athletica (LULU), a designer of athletic accessories and apparel, named Heidi O’Neill as next CEO, effective September 8, 2026. Heidi O’Neill is a former Nike (NKE) executive.
Southwest Airlines (LUV), an airline, is badly oriented as quarterly financial figures missed expectations.
Honeywell (HON), a diversified technology company, declines as full-year sales forecast disappointed investors.
Lam Research (LRCX), a manufacturer of semiconductor equipment, gains some ground as current quarter guidance as well as quarterly financial figures all beat estimates.
ServiceNow (NOW), a cloud-based software management company, tumbles as full-year subscription growth outlook disappointed investors. However, quarterly financial figures topped expectations.
United Rentals (URI), an equipment rental company, surges after lifting full-year sales forecast.
Knight-Swift Transportation (KNX), a truckload carrier, loses ground as quarterly operating income missed estimates.
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Intel (INTC)
American Express (AXP)
Thermo Fisher Scientific (TMO)
NextEra Energy (NEE)
Union Pacific (UNP)
Honeywell (HON)
Lockheed Martin (LMT)
Newmont (NEM)
Comcast (CMCSA)
Freeport-McMoran (FCX)
Blackstone (BX)
Digital Realty Trust (DLR)
Baker Hughes (BKR)
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On Wednesday, the S&P/TSX Composite Index rose by 0.43% to 33,955, and the S&P/TSX 60 Index gained 0.22% to 1,977.
Teck Resources (TECK/B), a mining company, posted quarterly adjusted EPS up to 1.75 dollar from 0.60 dollar a year earlier, on sales up to 3.94 billion dollars from 2.29 billion dollars a year ago. Both figures topped expectations.
Waste Connections (WCN), a provider of solid waste collection, transfer, recycling and disposal services, reported quarterly adjusted EPS up to 1.23 dollar from 1.13 dollar a year earlier, on sales up to 2.37 billion dollars from 2.23 billion dollars a year ago. Both figures slightly beat estimates.
Barrick Mining (ABX)'s, a gold producer, target price was cut to 79 dollars from 91 dollars at JPMorgan. Peer Agnico Eagle Mines (AEM)'s target price was cut to 300 dollars from 321 dollars also at JPMorgan.
Mullen Group (MTL), one of the leading suppliers of trucking and logistics services in Canada, unveiled quarterly adjusted EPS down to 0.20 dollar from 0.21 dollar a year earlier, yet just below estimates. Sales rose 10.2% to 547.7 million dollars, slightly below expectations.
Metro (MRU)'s, a leader in food and pharmacy, target price was cut to 96 dollars from 103 dollars at Scotiabank.
Boyd Group Services (BYD), one of the largest operators of non-franchised collision repair center, announced a new COO for the U.S. Collision Business and a new Chief Commercial Officer.
Lycos Energy (LCX), an energy company, was upgraded to "outperform" from "sector perform" at National Bank of Canada.
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