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Market Wrap: pre-opening session |
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U.S. market futures are gaining ground after major U.S. stock indexes closed little changed yesterday, with the S&P 500 edging up 7 points (+0.10%) to 6,843, and the Dow Jones up 32 points (+0.07%) to 49,533.
The Nasdaq 100 dipped 31 points (-0.13%) to 24,701.
On the economic front in the U.S., the Federal Reserve will release its latest FOMC meeting minutes today.
On the stat front today in the U.S. durable goods orders are estimated to drop 3.4% month-on-month in December after a 5.3% rise in November. Separately, housing starts and building permits are expected to be down 4.4% and 3.7% respectively in December. Also, industrial production is estimated to grow 0.5% month-on-month in January after a 0.4% increase a month earlier.
European indices are well oriented with the STOXX600 and U.K.'s FTSE 100 indexes both posting record highs. On the stat plan, U.K.'s inflation rate decreased to 3% in January on a yearly basis, as expected, from 3.4% a year earlier.
Asian indexes gained ground. Markets in China, Hong Kong, Taiwan, Singapore and South Korea closed for holiday. Japanese's Nikkei 225 was slightly down. On the economic side, the Reserve Bank of New Zealand kept its benchmark rate unchanged at 2.25% as expected, adding that "monetary policy is likely to remain accommodative for some time".
WTI crude oil futures rebound above a key technical support at 62.00 dollars after falling yesterday on hopes for a de-escalation of tensions between Iran and the U.S.
Gold and silver are both halting their correction before the release of Fed minutes.
Bitcoin still consolidates below the key 70,000 dollars threshold.
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Nvidia (NVDA), a chip giant, gains ground after announcing "a multiyear, multigenerational strategic partnership with Meta Platforms (META) spanning on-premises, cloud and AI infrastructure."
Palantir Technologies (PLTR), a data-analytics and AI software company, was upgraded to "outperform" from "neutral" at Mizuho.
Palo Alto Networks (PANW), a global cybersecurity leader, tumbles after cutting full-year earnings guidance.
Sandisk (SNDK) loses some ground as peer Western Digital (WDC) sold a 3.17 billion dollars stake in the data storage solutions company.
Cadence Design Systems (CDNS), an electronic design automation software and engineering services company, jumps on strong full-year adjusted EPS forecast. Also, the company posted a record 7.8 billion dollars year-end backlog.
New York Times Co (NYT), a media company, is well oriented as holding company Berkshire Hathaway (BRK/B) disclosed an investment in the firm.
Caesars Entertainment (CZR), a global operator of casino resorts, gains ground after reporting quarterly adjusted Ebitda up 85 million dollars from 20 million dollars a year earlier.
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Analog Devices (ADI)
Booking Holdings (BKNG)
Carvana (CVNA)
Moody's (MCO)
DoorDash (DASH)
Occidental Petroleum (OXY)
Garmin (GRMN)
Nutrien (NTR)
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Teck Resources (TECK.B)
Kinross Gold (K)
Nutrien (NTR)
Pan American Silver Corp (PAAS)
Alamos Gold (AGI)
Ivanhoe Mines (IVN)
Equinox Gold (EQX)
Bausch + Lomb Corporation (BLCO)
On Tuesday, the S&P/TSX Composite Index fell 0.54% to 32,896 and the S&P/TSX 60 Index was down 0.41% to 1,909.
TFI International (TFII), a transport and logistics company, reported quarterly adjusted EPS down to 1.09 dollar from 1.19 dollar a year earlier on sales down to 1.91 billion dollars from 2.08 billion dollars a year ago. However both figures topped estimates.
IAMGOLD (IMG), a mining company, unveiled quarterly adjusted Ebitda up to 710.1 million dollars from 215.4 million dollars a year earlier.
SSR Mining (SSRM), a mining company, posted quarterly adjusted EPS up to 0.88 dollar, above expectations, from 0.10 dollar a year earlier. Separately, the company announced a 300 million dollars share buyback program.
Barrick Mining (ABX)'s, a gold producer, target price was cut to 77 dollars from 80 dollars at Canaccord Genuity.
Agnico Eagle Mines Limited (AEM), a mining company, announced an additional investment in Maple Gold Mines (MGM).
Power Corporation of Canada (POW), a diversified international management and holding company, "announced that R. Jeffrey Orr will become Vice-Chair of the Corporation and will be succeeded as President and Chief Executive Officer by James O'Sullivan, currently President and CEO of IGM Financial (IGM), a subsidiary of Power, effective July 1, 2026."
Organigram (OGI), a cannabis company, agreed to acquire German peer Sanity Group for up to 227 million euros.
Gibson Energy (GEI), an energy infrastructure company, unveiled quarterly net income of 41.3 million dollars vs a net loss of 5.6 million dollars a year earlier. The company increased quarterly dividend by 5% to 0.45 dollar per share.
Canfor (CFP), a forest products company, announced "that it will record a non-cash asset write down and impairment charge totaling approximately 321 million dollars in its fourth quarter of 2025 results. Of this amount, 215 million dollars relates to the Company’s lumber segment and 106 million dollars relates to its pulp and paper segment."
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