United States Fed Kashkari Speech

The Dow Jones Index gained 258 points or 0.54 percent on Friday to close at 48322 points. Gains were led by Boeing (4.91%), Caterpillar (4.34%) and Goldman Sachs (3.92%). Biggest losers were Salesforce (-4.25%), Microsoft (-2.28%) and Amazon (-1.89%).

The Dow Jones Index Closes 0.54% Higher

The S&P/TSX Composite Index closed 0.5% higher at 31,883 on Friday, the first session of the year, outperforming its US counterpart with support from the financial services and energy sectors. Most oil heavyweights advanced, with Imperial, Suncor, and Cenovus adding more than 2%. Among banks and asset managers, Brookfield Asset Management and added 2% each. Cameco surged more than 7%, supported by strength in the uranium market. In contrast, Capstone Copper fell 1.5% after saying a union representing about half of the workers at its Mantoverde copper and gold mine in Chile will begin a strike.

Canadian Stocks Start Year Higher

US stocks closed mostly higher after a volatile first session of the year, reflecting the market's uncertainty on whether AI software providers have overdone their pledges of AI capital expenditure. The Dow gained 370 points on the strength of core sectors of the economy, while S&P 500 added 0.3% and the Nasdaq 100 closed flat. Chip producers rose sharply amid a series of positive corporate developments in the sector with Nvidia gaining 2%, while Micron and Intel jumped 10% and 7%, respectively. Baidu announced the IPO of its AI chip arm in Hong Kong, while asset managers upgraded ASML. Furniture makers also advanced as President Trump delayed tariffs on inputs, with Wayfair and RH adding 6% and 8%. AI software producers fell sharply, with Microsoft, Meta, Amazon, and Palantir fell between 2% and 5%. Additionally, Tesla lost 2.5% after missing its delivery target in the fourth quarter. Broader sectors were supported by the view of robust growth and lower rates by the Fed this year.

US Stocks Start Year Mostly Higher

The first full week of the year will see a pickup in economic data releases and trading volumes following Christmas and New Year's holidays. US data will be headlined by a batch of labor market surveys including the BLS December jobs report, the JOLTS, and the ADP Employment Report. Other key insights will be unveiled with the ISM PMIs and Michigan consumer confidence survey. PMI results will also be featured in China with the broader RatingDog survey, followed by key inflation prints for Asia's largest economy. In Europe, the spotlight will be on inflation rates for the Eurozone and its largest economies, in addition to their unemployment rates and major manufacturing gauges from Germany and Switzerland. Elsewhere, India will post its FY26 GDP and Canada will release its jobs aggregates.

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The Dow Jones Index Closes 0.54% Higher

Canadian Stocks Start Year Higher

US Stocks Start Year Mostly Higher

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United States Fed Kashkari Speech