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Market Wrap: pre-opening session |
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U.S. market futures trade steady jump as U.S. stocks rallied on Monday after the U.S. and Iran reached a peace agreement. The S&P 500 climbed 122 points (+1.65%) to 7,554, the Nasdaq 100 rose 907 points (+3.06%) to 30,543, and the Dow Jones gained 468 points (+0.92%) to 51,671, a new record close.
Top-performing sectors were Technology (XLK), Consumer Discretionary (XLY) and Industrials (XLI), while Energy (XLE), Real Estate (XLRE) and Health Care (XLV) lagged.
On the stat front in the U.S. housing starts and building permits for May are estimated to slip 2.0% and 0.6% month-on-month, respectively. Separately, import prices are seen up 0.9% in May on a monthly basis.
European indices are gaining ground. On the stat plan, Germany's ZEW economic sentiment index climbed to 10.5 in June (-6 expected) from -10.2 in May.
Asian indices were mixed. On the economic front, the Bank of Japan raised its benchmark rate by 25 basis points to 1.00% as expected. Meanwhile, the Reserve Bank of Australia kept its benchmark rate unchanged at 4.35% as anticipated. Regarding stats, China's industrial production rose 4.5% year-on-year in May, above 4.2% estimated.
WTI crude oil prices keep declining, crossing below 80 dollars.
Gold and silver are both little changed, maintaining yesterday's gains.
Bitcoin keeps firm, currently trading slightly above 66,000 dollars.
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SpaceX (SPCX) jumps above 200 dollars. The space company agreed to buy AI coding company Anysphere for 60 billion dollars. The stock soared 19.58% yesterday as CEO Elon Musk said he would be surprised if the company’s revenue does not exceed 1 trillion dollars by 2031.
Chipmakers such as Micron Technology (MU) or Qualcomm (QCOM) extend yesterday's rally.
Robinhood (HOOD), a commission-free stock trading & investing app, rises after announcing a 10% reduction of its full-time employees.
Dave & Buster’s Entertainment (PLAY), a restaurant and entertainment company, tumbles as quarterly financial figures missed estimates.
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No major earnings expected
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On Monday, the S&P/TSX Composite Index rose 0.97% to 35,276 and the S&P/TSX 60 Index gained 0.65% to 2,064.
Keyera (KEY), an energy infrastructure company, was upgraded to "outperform" from "sector perform" at National Bank of Canada.
High Tide (HITI), a retail-forward cannabis enterprise, reported quarterly adjusted Ebitda up 73% to 13.9 million dollars on sales up 30% to 179.3 million dollars. Both figures beat estimates.
Groupe Dynamite (GRGD), a clothing retailer, posted quarterly adjusted EPS that doubled to 0.50 dollar. Sales rose 37% to 310.6 million dollars. The company raised full-year adjusted Ebitda margin guidance.
SSR Mining (SSRM), a mining company, announced "that its Board of Directors has approved an additional 500 million dollars for share repurchases and the reinstatement of a regular quarterly dividend as part of the company’s ongoing capital returns program. The Board of Directors anticipates declaring the first quarterly cash dividend of 0.03 dollar per common share in conjunction with the company’s second quarter 2026 financial results".
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