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A bounceback by tech stocks around the world helped drive equity markets higher and set the scene for Nvidia’s earnings report, while investors set aside their concerns around U.S. tariffs – at least for now. |
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The optimism in equities comes even as investors grapple with a range of political and geopolitical worries, though it did allow U.S. President Donald Trump to boast of stock market gains in his State of the Union speech. |
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Wall Street futures edged upward after markets closed higher on Tuesday. Dow futures rose 0.12 per cent, S&P 500 futures rose 0.14 per cent, and Nasdaq futures rose 0.19 per cent. |
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In Canada, Big Six bank earnings continue with Bank of Montreal and National Bank of Canada reporting today. Investors are also getting results from CCL Industries Inc., EQB Inc., Loblaw Companies Ltd., Northland Power Inc., Snowline Gold Corp., Stantec Inc., and WSP Global Inc. |
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On Wall Street, markets are watching earnings from Ebay Inc., Hut 8 Corp., Lowe’s Companies Inc. Nvidia Corp. and TJX Companies Inc. |
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Overseas, the pan-European STOXX 600 gained 0.55 per cent in morning trading. Britain’s FTSE 100 advanced 0.91 per cent, Germany’s DAX rose 0.41 per cent and France’s CAC 40 gained 0.33 per cent. |
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In Asia, Japan’s Nikkei closed 2.20 per cent higher, while Hong Kong’s Hang Seng ended 0.66 per cent higher. |
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In commodity markets, oil continued its march higher driven by Iran concerns and hovered around a seven-month top. |
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Brent futures were up 6 US cents at US$70.83 per barrel. WTI futures rose 4 US cents to US$65.67 per barrel. |
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In other commodities, spot gold rose 0.8 per cent to US$5,190.99 per ounce. U.S. gold futures for April delivery were up 0.7 per cent at US$5,210.40. |
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The Canadian dollar strengthened against its U.S. counterpart. |
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The day range on the loonie was 72.95 US cents to 73.14 US cents in early trading. The Canadian dollar was down about 1.02 per cent against the greenback over the past month. |
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The U.S. dollar index, which weighs the greenback against a group of currencies, rose slightly to 97.83. |
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The euro edged up 0.06 per cent to US$1.1781. The British pound gained 0.17 per cent to US$1.3513. |
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In bonds, the yield on the U.S. 10-year note was last up at 4.055 per cent. |
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Apotex Inc. plans to go public this year with a share sale worth up to $1-billion that will allow its private equity owner to cash in on the generic drugmaker it acquired after the murder of its founder, Barry Sherman, The Globe’s Andrew Willis and Sean Silcoff report. |
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Euro zone and Germany’s CPI |
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8:30 a.m. ET: Canadian wholesale trade for January. |
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Canada’s Capital Expenditure Survey for 2026 |
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With Reuters and The Canadian Press |
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