More Canadian earnings to watch

This week will bring more domestic earnings, says Prab Sagoo, associate director at Nasdaq Advisory Services, in his latest weekly highlight.

On Thursday, he says, “a number of bellwethers [are] reporting. The most notable include Intact Financial, ARC, Manulife, Thomson Reuters, Brookfield [Asset Management], Suncor, Great-West, TELUS, Agrium and Hydro One.”

Read: This week’s Canadian earnings reports

Further, “The Canadian economic calendar will see housing and trade data released, with Friday having the more notable Labour Force Survey,” says Sagoo.

Additional highlights

• The TSX ended last week with slight losses, continuing to pull back from late January highs. It underperformed the S&P 500 but outperformed the EU and Asia.
• The technology sector underperformed, pulling back sharply on U.S. immigration curbs. Meanwhile, energy continued to fall and test the technical support at 200; the sector is down about -8% year to date, sharply underperforming though disconnected from oil price movements. Further, telcos lost ground on earnings.
• Safe-haven materials continued to bounce. Gold was +2.7% on the week, there were solid gains seen in silver and copper continues to show good gains year to date.
• The loonie was testing three-month highs—the loonie was hovering around US$0.77 as of 10am on Feb 6^th, compared to approximately US$0.74 in early November—while Canadian government bond yields moved lower across curve.
• On the U.S. front, we’ll see import/export and consumer sentiment data out on Friday this week, though political headlines will continue to drive broader market swings. Read: Who can cross the border under Trump?

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.