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Market Wrap: pre-opening session |
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U.S. market futures rebound after major U.S. stock indexes fell over 1%, with the S&P 500 dropping 84 points (-1.23%) to 6,798, and the Nasdaq 100 down 342 points (-1.38%) to 24,548.
The Dow Jones was down 592 points (-1.20%) to 48,908.
Alphabet (GOOGL) once slid nearly 8% during the session, but managed to narrow the loss to just 0.53% at close. The tech giant reported stronger-than-expected quarterly results while saying full-year capital expenditure could reach up to 185 billion dollars, much more than expected.
Meanwhile, Microsoft (MSFT) slipped 4.95%, Nvidia (NVDA) lost 1.33%, and Tesla (TSLA) was down 2.17%.
Bitcoin price slid near 14%, dragging down cryptocurrency-related stocks, with Coinbase (COIN) falling 13.34% and MicroStrategy (MSTR) dropping 17.12%.
Regarding U.S. economic data, the latest number of initial jobless claims was up for a third straight week.
On the stat front today in the U.S. the Michigan consumer sentiment index is estimated at 53.0 in February in first reading vs 56.4 in January.
In Canada, employment is expected to drop 10,000 in January, while jobless rate is anticipated to be flat at 6.8%. Separately, the Ivey Purchasing Managers Index is seen at 51.5 in January vs 51.9 in December.
European indices bounce from their session lows. On the stat plan, Germany's industrial production fell 1.9% in December (+0.3% expected) after a 0.8% rise in November. Also in Germany, trade excess increased to 17.1 billion dollars in December from 13.6 billion dollars a month earlier.
Asian indices mostly declined tracking U.S. stocks sell-off. Regarding stats, Japan's household spending fell 2.6% year-on-year in December, compared with +3.2% expected.
WTI crude oil futures slightly rebound above the 62.00 dollars technical support ahead of U.S.-Iran planned talks.
Gold attempts to rebound above a key level at 4,700 dollars. Silver also bounces amid very high volatility after losing near 25% yesterday.
Bitcoin attempts to rebound above 63 000 dollars.
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Amazon.com (AMZN), the world's largest online retailer, drops after unveiling plans to invest 200 billion dollars in capital expenditures by 2026, primarily focused on AI-related ventures.
Reddit (RDDT), a social network, strongly jumps on better-than-expected quarterly earnings and upbeat 2026 guidance. Moreover, the company announced a 1 billion dollars share buyback program.
Molina Healthcare (MOH), a health insurer, craters on disappointing full-year guidance.
Roblox (RBLX), an online video game platform, soars as 2026 bookings forecast topped estimates.
BILL Holdings (BILL), a leader in financial automation software for small and midsize businesses, surges as quarterly financial figures smashed expectations.
Fortinet (FTNT), a cybersecurity firm, is well oriented after posting quarterly financial figures above estimates and increasing share buyback program by 1 billion dollars.
Coty (COTY), a beauty company, drops after withdrawing full-year outlook.
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Philip Morris (PM)
Biogen (BIIB)
Centene (CNC)
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On Thursday, February 5, 2026, the S&P/TSX Composite Index fell 1.77% to close at 31,994.60, while the S&P/TSX 60 Index finished 1.34% lower at 1,860.57. The downturn was driven by a sharp "risk-off" rotation, as a 1.2% drop in gold and a 3.1% slide in crude oil weighed heavily on the resource-reliant Canadian market.
TMX Group (X), an integrated exchange group, reported quarterly adjusted EPS up 22% to 0.60 dollar on sales up 16% to 457.8 million dollars. Both figures beat estimates. The company raised its dividend by 9%.
Saputo (SAP), a dairy processor, posted quarterly adjusted Ebitda up 18.0% to 492 million dollars. Sales fell 2.1% to 4.89 billion dollars, missing expectations.
BCE (BCE)'s, a communication services company, target price was raised to 37 dollars from 33 dollars at JPMorgan.
Canada Goose (GOOS), a clothing retailer, was downgraded to "underweight" from "equal-weight" at Barclays.
Wheaton Precious Metals (WPM), a mining company, announced Haytham Hodaly will succeed Randy Smallwood as the company's CEO. Randy Smallwood led the business he co-founded for more than 15 years. Mr. Hodaly joined Wheaton in 2012 as Senior Vice President, Corporate Development before being promoted to President in 2025.
Open Text (OTEX), an enterprise information management software developer, unveiled quarterly adjusted EPS up 1.8% to 1.13 dollar. Sales fell 0.6% to 1.33 billion dollars, yet above estimates.
ARC Resources (ARX), an energy company, was downgraded to "sector perform" from "outperform" at National Bank of Canada.
Cascades (CAS), a producer, converter and marketer of packaging and tissue products, announced the "discontinuation of its activities in the honeycomb paperboard and partition packaging product sectors. As a result, its three plants located in York, PA, and Saint-Césaire and Berthierville, QC, will be closed."
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