Canadian equities are modestly higher this morning as investors digest a strong batch of earnings from the country’s major banks while looking ahead to Nvidia’s highly anticipated earnings report. The TSX is up 0.26%, while the TSX Venture Index is ahead 0.56%, supported by strength in financials and select resource stocks.
In the U.S., markets are showing signs of stabilization following the recent AI-driven selloff. The Dow is up 0.10% and the Nasdaq has rebounded 0.77%, as investors prepare for what could be a pivotal week for technology stocks. Added context points to easing market stress as falling oil prices help calm stock and bond markets, while bitcoin continues to hold near record levels despite recent volatility. Markets are also closely watching inflation data and the upcoming Jackson Hole policy discussions.
Market numbers
TSX: Up (+0.26%) 36,714.12
TSXV: Up (+0.56%) 993.93
DOW: Up (+0.10%) 53,505.5
NASDAQ: Up (+0.77%) 29,266.4
FTSE 100: Down (‑0.20%) 10,828.06
In the headlines
- Canadian Banks Post Strong Quarter: Scotiabank reports $2.95B Q3 profit, up from $2.53B a year ago. Scotiabank delivered third-quarter profit of $2.95 billion and exceeded analyst expectations thanks to strong performance in capital markets and wealth management businesses. Bank of Montreal (TSX:BMO) beats analysts’ expectations, announces share buyback. BMO also topped expectations and announced a share repurchase program, reinforcing confidence in the Canadian banking sector. Bank of Nova Scotia (TSX:BNS) tops expectations on growth in capital markets, wealth management. Continued growth across wealth management and capital markets drove results above consensus forecasts.
- Nvidia Faces Critical Earnings Test: Nvidia (TSX:NVDA) stock is on a 7-day losing streak ahead of its big earnings report. Nvidia heads into earnings week under pressure after seven consecutive losing sessions. Investors are looking for evidence that AI infrastructure spending remains strong enough to justify its massive valuation and reignite momentum in the technology sector.
Currencies
USD: Down (‑0.01%) $0.7219
GBP: Down (‑0.06%) $0.5290
EUR: Down (‑0.07%) $0.61882
JPY: Up (+0.09%) ¥115.020
AUD: Down (‑0.10%) $1.0090
Bitcoin (BTC/CAD): Down (‑0.04%) 109,092.3
(Conversion to C$1)
Commodities
Copper: Up (+0.04%) 6.70330
Gold: Down (‑0.87%) 4,611.23
WTI: Down (‑2.66%) 82.41
Natural Gas: Down (‑1.99%) 2.752
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