Bay Street Might Continue Positive

Market Overview - Investor sentiments are influenced by geopolitical developments, particularly U.S. military positioning in the Middle East, leading to positive trends in precious metal prices [1] - The benchmark S&P/TSX Composite Index closed higher, gaining 193.88 points or 0.57% to settle at 33,970.38 [1] - Gold prices surged toward $5,200 an ounce, with spot gold trading up 0.8% at $5,187.20 and U.S. gold futures up 32.40 points or 0.62% at $5,209.20 [1] Commodity Prices - Silver futures increased by 3.274 points or 3.79% to 90.825 [2] - Crude oil futures rose by 0.64 points or 0.99% to 66.28 [2] - The dollar index declined slightly against major peers, making bullion cheaper for holders of other currencies [2] Corporate Sector - Hut 8 Corp. reported a fourth-quarter net loss from continuing operations of $301.8 million, compared to a profit of $149.7 million in the prior year, while total revenue increased to $88.49 million from $31.69 million [2] - Thomson Reuters announced plans to repurchase up to $600 million of its common shares under an amended normal course issuer bid, returning $605 million to shareholders through a return of capital transaction [3] Economic Indicators - New Home Sales for January will be released, with the prior month showing annual sales at 745K [6] - The EIA's Petroleum Status Report will be issued, with previous week crude oil inventories down by 9.0 million barrels and gasoline inventories down by 3.2 million barrels [6] Global Market Performance - Asian stocks finished higher, with China's Shanghai Composite index up 0.72% to 4,147.23 and Hong Kong's Hang Seng index rising 0.66% to 26,765.72 [9] - The Nikkei average in Japan jumped 2.20% to 58,583.12, driven by strong performances in chip and AI sectors [9] - Australian shares reached a record high, with the S&P/ASX 200 closing 1.17% higher at 9,128.30 [10]