Global Markets
Canadian Markets
On the last trading day of the year, the Toronto Stock Exchange (TSX) rose moderately, buoyed by significant rises in oil and gold prices. Energy and Mining sectors rose in tandem as a result of the increase in commodity prices, while the Canadian dollar weakened.
American Markets
American stocks dropped into the afternoon as they head into the new year, largely driven by profit-taking. Investors were looking to lock in gains from a strong 2024 performance and reduce exposure before the year concludes.
While the U.S. economy has performed well, there are growing concerns about potential risks in 2025. Investors are cautious over interest rates, geopolitical instability, and the possibility of a slowdown in corporate earnings growth.
European Markets
European markets ended the final trading day of 2024 with mixed results. The FTSE 100 rose 0.64% to close at 8,173.02, driven by gains in energy and mining stocks, supported by rising oil and gold prices. France’s CAC 40 led the region with a 0.92% gain, finishing at 7,380.74, boosted by strong performance in luxury goods and financial sectors. Meanwhile, Germany’s DAX fell 0.38% to 19,909.14, weighed down by weakness in industrials and technology stocks amidst lingering concerns over inflation and slower Eurozone growth.
Chinese Markets
Chinese stocks traded sharply lower today. While China’s manufacturing sector continues to show signs of slow growth, investor sentiment was dampened by global economic uncertainties and weaker-than-expected domestic data. Investors are also cautious ahead of the new year, with concerns about potential global demand slowdowns and the impacts of domestic economic policies.
Japanese Markets
Japanese markets closed in the red today, with the Nikkei 225 index (N225) ending the session lower at 39,894.54 JPY. This marks a decline on the final trading day of the year.
After a strong rally in 2023, investors were taking profits ahead of the New Year as in other markets. With the Nikkei 225 having seen impressive performance earlier in the year, some traders opted to lock in profits by selling off stocks, particularly in sectors that had seen substantial gains, contributing to the downward movement.
Corporate Stock News
- Advanced Micro Devices (AMD): Buy rating maintained at Northland Capital with a target price update to USD 175.
- Air Canada (AC:CA): STA Research downgraded Air Canada to a Hold with a target price of CAD 20.
- Alibaba: The company’s cloud unit announces significant price cuts on large-language models.
- Boeing (BA): Hold rating maintained at Morningstar with a target price of USD 191 (from USD 207.60).
- Canoo: Stifel has downgraded the stock due to concerns over liquidity risks.
- Citi: Citigroup is optimistic about FTAI Aviation’s partnership agreement and its 2025 guidance.
- Ford: The company is recalling 20,484 hybrid SUVs due to potential battery concerns.
- Huachen AI Parking: The company has filed for a 1.5 million-share IPO at a price range of $4–$6 per share.
- Maersk: The company has asked customers to remove cargo in anticipation of a potential strike at U.S. ports.
- Pfizer: The company has ended its global collaboration with Sangamo, causing a 27% drop in shares.
- Premium Brands Holdings (PBH:CA): STA Research upgraded to speculative buy with a target price of CAD 90
- Range Resources Corp (RRC): Morningstar maintained the sell rating with a price target of USD 22.5
- Sangamo: Shares dropped by 50% after Pfizer terminated its gene therapy deal.
- Tesla: Tesla’s Shanghai megafactory has started trial production, and the company will fix software issues in 77,650 China-made vehicles.
- Vale: The company has reached a $1.8 billion agreement with Brazilian authorities over railway concessions.
- Wells Fargo: The bank predicts that the U.S. will maintain its role as a leader in global growth throughout 2025.
- Wizz Air: The airline reported that 40 planes will remain grounded through fiscal 2026 due to engine issues.
- Yum! Brands Inc. (YUM): Buy rating maintained at Argus Research with a target price update to USD 155 (from USD 144.47).
STA Research (StockTargetAdvisor.com) is a independent Investment Research company that specializes in stock forecasting and analysis with integrated AI, based on our platform stocktargetadvisor.com, EST 2007.
