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Market Wrap: pre-opening session |
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U.S. market futures are slightly down but rebound from their intraday lows as U.S. President Donald Trump picked former Federal Reserve governor Kevin Warsh as the next Fed chairman
Yesterday both the S&P 500 (down 9 points or 0.13% to 6,969) and the Nasdaq 100 (down 138 points or 0.53% to 25,884) closed slightly lower yesterday.
Meanwhile, the Dow Jones gained 55 points (+0.11%) to 49,071.
Microsoft (MSFT), a tech giant, plunged 9.99% on disappointing quarterly growth in its Azure cloud division and light current quarter operating margin guidance.
Meta Platforms (META), a social technology company, surged 10.40% following quarterly sales that exceeded expectations and a positive forecast for annual operating income.
On the stat front in the U.S. producer price index is expected to increase by 2.9% year-on-year in December after a 3.0% rise in November. Separately the Chicago purchasing managers index is estimated to climb at 45.0 in January vs 43.5 in December.
In Canada, gross domestic product is expected to grow 0.2% month-on-month in November after a 0.3% decline in October.
European indices trade higher. On the stat plan, eurozone's GDP growth was 0.3% in fourth quarter on a quarterly basis in first reading (0.2% expected) at the same pace than in the previous period. Meanwhile, Germany's GDP growth was 0.3% in fourth quarter on a sequential basis in first estimate (0.2% anticipated) after 0.3% in third quarter. Later in the day, Germany's inflation rate is anticipated at 1.9% year-on-year in January vs 1.8% in December.
Asian indices were badly oriented tracking U.S. futures decline. Regarding stats, Japan's jobless rate stayed at 2.6% in December and industrial production fell 0.1% month-on-month, both as expected, while retail sales dropped 2.0%, compared with +0.3% expected. Separately, Australia's producer price index rose 3.5% year-on-year in the fourth quarter as expected.
WTI crude oil futures consolidate below a technical resistance around 66.00 dollars amid fading worries about supply disruptions in Iran.
Gold and silver both tumble after their record run.
Bitcoin comes under heavy selling pressure, trading at its lowest since November after breaking below 85,000 dollars.
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Apple (AAPL), a consumer electronics company, edges lower as worries over increasing costs offset blowout quarterly figures.
Sandisk (SNDK), a data storage solutions company, soars as current quarter adjusted EPS guidance smashed expectations.
Verizon Communications (VZ), a telecom company, rises on better-than-expected 2026 earnings guidance.
Chevron (CVX) and Exxon Mobil (XOM), oil majors, consolidate despite both companies posted quarterly earnings above estimates.
Western Digital (WDC), a developer of data storage solutions, loses ground on profit taking despite posting quarterly financial figures above estimates. The stock is up more than 60% year-to-date.
Visa (V), a credit card company, loses some ground as quarterly adjusted EPS was roughly in-line with expectations.
Deckers Outdoor (DECK), a footwear designer and distributor, surges as 2026 outlook beat estimates.
Stryker (SYK), a manufacturer of medical equipment and products, gains ground on better-than-expected quarterly financial figures.
KLA (KLAC), a leading producer of process control equipment and semiconductors, drops as current quarter adjusted EPS forecast disappointed investors.
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Exxon Mobil (XOM)
Chevron (CVX)
American Express (AXP)
Verizon Communications (VZ)
Regeneron Pharmaceuticals (REGN)
Aon (AON)
Colgate-Palmolive (CL)
Canadian National Railway (CNI)
Air Products and Chemicals (APD)
Imperial Oil (IMO)
SoFi Technologies (SOFI)
Charter Communications (CHTR)
Church & Dwight (CHD)
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Earning Release:
Canadian National Railway Co (CNR)
Imperial Oil Ltd (IMO)
On Thursday, January 29, 2026, the S&P/TSX Composite Index fell 0.48% to 33,016.13 and the S&P/TSX 60 Index finished 0.08% lower at 1,907.60. The decline was primarily driven by losses in the technology and basic materials sectors.
Gold and silver miners such as Barrick Gold (ABX) or Endeavour Silver (EDR) drop on plummeting precious metals prices.
Bombardier (BBD/B), a global leader in aviation, said it is in contact with the Canadian government after Donald Trump threatened to withdraw certification for Canadian aircraft.
Celestica (CLS)', an electric components specialist, target price was raised to 330 dollars from 305 dollars at TD Cowen.
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