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Market Wrap: pre-opening session |
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U.S. market futures are consolidating after U.S. stocks advanced for a second consecutive session on Tuesday, with the S&P 500 rising 81 points (+1.18%) to 6,967, and the Nasdaq 100 up 458 points (+1.81%) to 25,841.
The Dow Jones closed 317 points higher (+0.66%) at 48,535.
The S&P 500 is less than 1% from its all-time high of 7,002, while the Nasdaq 100 posted a 10-session winning streak, the longest one since 2021.
According to press reports, discussions are underway about a second round of talks between Washington and Tehran.
Moreover, Donald Trump said in an interview to Fox News that he thinks Iran war "can be over very soon".
On the stat front, in the U.S., the Empire State manufacturing index is expected at -3.1 in April vs -0.2 in March. Separately, import prices are seen up 3.6% in March on a yearly basis after a 1.3% rise in February. Moreover, NAHB Housing Market Index is anticipated at 37 in April vs 38 a month earlier.
European stock indices are mixed. France's CAC 40 underperforms following disappointing sales figures from luxury giants Kering and Hermes. On the stat plan, eurozone's industrial production increased 0.4% in February on a monthly basis vs +0.5% expected and -0.8% in January (revised from -1.5%).
Asian indexes traded green, tracking Wall Street's gains. On the stat side, Japan's machinery orders rose 13.6% month-on-month in February, above 7.0% expected.
WTI crude oil prices rebound from an intraday low near 87 dollars to trade currently around 93 dollars. They fell more than 7% yesterday.
Gold and silver both consolidate below key technical resistances located respectively at 4850 dollars and 80 dollars.
Bitcoin also eases below the key 75,000 dollars threshold.
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Broadcom (AVGO) is well oriented after Meta Platforms (META), a social technology company, announced an expanded partnership with the chip giant "to co-develop multiple generations of its next-generation MTIA (Meta Training and Inference Accelerator) chips - the custom silicon that helps power AI across all of Meta’s apps and services."
Snap (SNAP), a social media, strongly rises after announcing plans to cut around 16% of global staff.
Bank of America (BAC), a banking group, gains ground as quarterly EPS beat estimates.
Robinhood (HOOD), a stock trading & investing app, jumps as the SEC approved removing the 25,000 dollars minimum equity rule for pattern day traders.
Nike (NKE), a sportswear company, gains ground as CEO Elliott Hill bought more shares of the company.
GitLab (GTLB), a software company, jumps after announcing an expanded collaboration with Google Cloud.
First Solar (FSLR), a maker of solar panels, is well oriented as Reuters reported China is considering export restrictions on solar equipment to the U.S.
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ASML (ASML)
Bank of America (BAC)
Morgan Stanley (MS)
Progressive (PGR)
PNC Financial Services (PNC)
M&T Bank (MTB)
First Horizon (FHN)
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On Tuesday, the S&P/TSX Composite Index rose 0.66% to 34,102 and the S&P/TSX 60 Index climbed 0.58% to 1,978.
BRP Inc (DOO), a global leader in the world of powersports vehicles, propulsion systems and boats, "announced it is suspending its full-year FY27 guidance following the recent amendment of Section 232 tariffs on Steel, Aluminum and Copper imports into the U.S., which came into effect on April 6, 2026." The stock was downgraded to "hold" from "buy" at TD Cowen.
Eldorado Gold (ELD), a mining company, was resumed "outperform" at National Bank of Canada.
Toromont Industries (TIH)'s, a Caterpillar construction equipment dealer, target price was raised to 232 dollars from 228 dollars at TD Cowen.
Colliers International (CIGI)'s, a real estate services company, target price was cut to 150 dollars from 155 dollars at Scotiabank.
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