Core Viewpoint - Canada has no intention of pursuing a free trade deal with China, as stated by Prime Minister Mark Carney, following threats from U.S. President Donald Trump regarding punitive tariffs on Canadian exports [1][2]. Group 1: Trade Relations - Carney emphasized that Canada respects its obligations under the Canada-U.S.-Mexico trade agreement (CUSMA) and will not negotiate a free trade agreement without notifying the U.S. and Mexico [1]. - Trump threatened a 100% tariff on Canadian exports if Canada engages in a trade deal with China, indicating a strong stance against Canada acting as a conduit for Chinese goods into the U.S. market [2][3]. - The U.S. Treasury Secretary echoed Trump's concerns, stating that Canada should not become a gateway for Chinese products entering the U.S. [3]. Group 2: Recent Agreements - Canada and China recently concluded a preliminary agreement that allows 49,000 Chinese electric vehicles to enter Canada annually at a reduced tariff rate of 6.1%, with plans to raise tariffs to 100% by October 2024 [4]. - In return, China will lower tariffs on Canadian agricultural exports, such as canola seed oil, from 85% to 15% starting March 1 [4]. - Other Canadian exports, including canola meal, lobsters, crabs, and peas, will not face Chinese anti-discrimination tariffs until at least the end of 2026 [5].

U.S. President Donald Trump speaks to reporters over the North Atlantic as he returns to Washington from the World Economic Forum (WEF) in Davos, Switzerland, aboard Air Force One, U.S., January 22, 2026."Good fences make good neighbors," goes the saying — one that seems to encapsulate U.S. President Donald Trump's threat of slapping tariffs of 100% on Canada if the country strikes a trade deal with China.  That comes after Trump on Thursday withdrew his invitation to Canadian Prime Minister Mark Carney for ...

Core Insights - Gold prices have reached a new all-time high, surpassing $5,000 per ounce, driven by increased demand amid geopolitical tensions and global fiscal risks [1][2] Group 1: Price Movement - Spot gold prices and U.S. gold futures for February have increased by 1.2%, trading at $5,042 and $5,036 per ounce, respectively [1] - Analysts at Union Bancaire Privée anticipate gold will continue to perform strongly, with a year-end target price of $5,200 per ounce [3] Group 2: Demand Drivers - The surge in gold prices is attributed to heightened geopolitical risks, particularly related to regions like Greenland and Venezuela, which enhances gold's status as a safe-haven asset [2] - Goldman Sachs notes that the demand for gold has expanded beyond traditional channels, with Western ETF holdings increasing by approximately 500 tonnes since the start of 2025 [4] Group 3: Central Bank Activity - Central bank purchases of gold are robust, averaging around 60 tonnes per month, significantly higher than the pre-2022 average of 17 tonnes, with emerging-market central banks increasing their gold reserves [6] - Goldman Sachs has raised its December 2026 gold price forecast to $5,400 per ounce, citing persistent hedges against global macro and policy risks [5][6]

Market Overview - Asia-Pacific markets exhibited mixed trading patterns, with a notable increase in gold prices as investors sought safe-haven assets amid geopolitical uncertainties [1] - Spot gold prices reached a record high of over $5,000 per ounce, specifically trading at $5,033.99 per ounce as of 7:52 a.m. Singapore time [1] Trade Relations - Canadian Prime Minister Mark Carney announced that Canada will not pursue free trade agreements with China without prior notification, in response to U.S. President Donald Trump's warning of a 100% tariff if Canada engages in a trade deal with China [2][3] - Carney emphasized Canada's commitment under the Canada-United States-Mexico Agreement (CUSMA) to notify before pursuing free trade agreements with non-market economies [3] Regional Market Performance - Japan's Nikkei 225 index decreased by 1.52%, while the Topix index fell by 1.76% [3] - In contrast, South Korea's Kospi index increased by 0.64%, and the small-cap Kosdaq index rose by 2.28% [3]

I like the setup this week, especially for Big Tech, barring another intrusion by our intrusive president. Apologies to people who wish I would call his fits of pique more offensive. These injudicious, blunt-force tariffs do get undone almost as quickly as they are slapped on, thank heavens. How is it possible, ahead of a week of landmine earnings reports, to be positive? Most of the negatives are seared in, and the constructive narratives are being ignored. Right now, this market seems possessed by pessimi ...

Core Viewpoint - Major Minnesota business leaders are calling for immediate de-escalation of tensions following the fatal shooting of U.S. citizen Alex Pretti by federal immigration agents in Minneapolis [1][2]. Group 1: Business Leaders' Response - Over 60 CEOs from Minnesota-based companies signed a letter urging collaboration among state, local, and federal officials to find real solutions to the ongoing turmoil [2]. - Signatories include prominent figures such as incoming Target CEO Michael Fiddelke, 3M CEO William Brown, Cargill CEO Brian Sikes, and UnitedHealth Group CEO Stephen Hemsley [2]. Group 2: Community Impact - The letter emphasizes the need for peace and cooperation to enable families, businesses, and communities in Minnesota to resume their efforts towards a prosperous future [3]. - The tragic incident has led to widespread disruption and loss of life, highlighting the urgent need for effective solutions [2][3]. Group 3: Federal Law Enforcement Actions - The Trump administration has increased federal law enforcement presence in Minneapolis to enforce immigration policies and investigate allegations of welfare fraud in the state [4].

Core Insights - The U.S. automotive industry is facing ongoing challenges, with a trend of inconsistency expected to continue into 2026 [1][3] - The sector, contributing approximately 4.8% to the U.S. GDP, has been impacted by multiple crises since the onset of the Covid-19 pandemic [2] Industry Challenges - Automakers are experiencing a combination of supply chain issues, affordability concerns, and declining consumer demand, leading to a more difficult environment in 2026 [3][4] - Sales forecasts for 2026 suggest steady to lower sales, with 2025 sales recorded at 16.3 million units, down from over 17 million units for five consecutive years prior to the pandemic [4] Vehicle Pricing Dynamics - The average transaction price for new vehicles reached around $50,000 by the end of 2025, marking a 30% increase from less than $38,747 at the beginning of 2020 [5] - Historically, average transaction prices increased by 3.2% year-over-year, but this rate nearly tripled to 9% from 2020 to 2022 [5][6] Ownership Costs - Total vehicle ownership costs have escalated, with median household income required to purchase an average new vehicle increasing from 33.7 weeks in November 2019 to 36.3 weeks currently [8] - The cumulative impact of rising vehicle prices, inflation, and increased maintenance and insurance costs has exacerbated the affordability crisis for many households [7][8] Strategic Shifts - In response to affordability challenges, automakers like Toyota and Honda are shifting focus towards lower-priced vehicle models and certified pre-owned vehicles [10][11] - Ford is considering re-entering the sedan market, which it exited in 2020, indicating a potential shift in strategy to adapt to changing market conditions [12][13] Regulatory Environment - Automakers are preparing for potential volatility in U.S. regulations and trade negotiations, particularly regarding the United States-Mexico-Canada Agreement [15][16] - The outcome of these negotiations could significantly impact production costs and pricing strategies for automakers with substantial U.S. operations [16] Market Outlook - Analysts predict a challenging year ahead for the automotive sector, with mixed results expected as companies navigate ongoing disruptions [17][18] - GM's CEO has indicated a more optimistic outlook for 2026 compared to 2025, with adjusted earnings guidance suggesting potential growth [18]

Core Insights - The article highlights the top-performing analysts in the U.S. for the year 2025, as ranked by TipRanks based on their success rates and average returns [1][2]. Analyst Rankings - **Sam Slutsky – LifeSci Capital**: Achieved the highest ranking with a success rate of 67.74% and an average return of 62.4%. His notable recommendation on Abivax SA (ABVX) yielded a return of 894.81% [3]. - **Richard Shannon – Craig-Hallum**: Ranked second with a success rate of 61.87% and an average return of 36.9%. His top call on Aeva Technologies (AEVA) generated a return of 822.14% [4]. - **Joseph Stringer – Needham**: Secured the third position with a success rate of 79.17% and an average return of 38.2%. His best recommendation was for Inozyme Pharma (INZY), which returned 361.9% [5]. - **Myles Minter – William Blair**: Fourth place with a success rate of 66.93% and an average return of 28.8%. His top recommendation on Ovid Therapeutics (OVID) yielded a profit of 350% [6]. - **Ruben Roy – Stifel Nicolaus**: Fifth on the list with a success rate of 75.68% and an average return of 35.3%. His best call on CoreWeave (CRWV) generated a return of 293.2% [7]. - **Seamus Fernandez – Guggenheim**: Ranked sixth with a success rate of 78.57% and an average return of 40.6%. His best recommendation was for Cidara Therapeutics (CDTX), which returned 244.7% [8]. - **Thomas Smith – Leerink Partners**: Seventh place with an average return of 30.7% and a success rate of 65.22%. His best recommendation on Abivax yielded a return of 880.34% [9]. - **Mark Miller – Benchmark Co.**: Eighth with a success rate of 59.8% and an average return of 11.1%. His top call on SanDisk (SNDK) generated a return of 470.6% [11]. - **Allison Bratzel – Piper Sandler**: Ninth position with a success rate of 63.64% and an average return of 58.2%. His recommendation for Abivax also yielded a return of 894.81% [12]. - **Julian Harrison – BTIG**: Tenth with a success rate of 59.38% and an average return of 37%. His top recommendation on Abivax generated a return of 1,057.12% [13].

Market Overview - The stock market experienced volatility due to President Trump's tariff threats against eight European countries, leading to the S&P 500 and Nasdaq's worst performance since October [1] - Following Trump's announcement of a framework for a future deal regarding Greenland, both indices rebounded, but ended the holiday-shortened week down 0.4% and 0.1% respectively [1] Earnings Reports - Procter & Gamble reported mixed results, beating earnings expectations but missing revenue targets, attributed to the impact of the government shutdown [1] - Capital One also delivered mixed results, beating sales expectations but missing on earnings due to higher expenses; the company remains optimistic about long-term growth following recent acquisitions [1] Investment Actions - The company bought shares of Alphabet after a dip, which ended the week down 0.6% [1] - Profits were taken on Dover as it reached an all-time high, realizing a 13% gain on shares bought in May 2024 [1] - Qnity Electronics was trimmed after a significant year-to-date increase of 17.7%, reflecting a cautious approach despite positive outlooks [1]

Core Viewpoint - President Trump threatens to impose a 100% tariff on Canadian goods if Canada finalizes a trade deal with China, indicating a strong stance against perceived trade maneuvers that could undermine U.S. tariffs [1][2]. Group 1: U.S.-Canada Trade Relations - Trump warns that a trade deal between Canada and China would result in a 100% tariff on all Canadian goods entering the U.S. [1] - The U.S. has previously raised tariffs on Canadian goods to 35% as of August 2025, with certain products like steel and autos still subject to duties under the Canada-U.S.-Mexico Agreement (CUSMA) [4]. - The new tariff threat follows Trump's withdrawal of an invitation for Canada to join his "Board of Peace," which was announced after Prime Minister Carney's speech at the World Economic Forum [5][6]. Group 2: Canada-China Trade Deal - Canada and China have reached a preliminary agreement to reduce trade barriers, allowing up to 49,000 Chinese electric vehicles into Canada at a tariff rate of 6.1%, while China would lower tariffs on Canadian canola seed to approximately 15% [3]. - Trump's previous comments indicated support for Carney's efforts to negotiate a trade deal with China, highlighting a shift in his stance [4].