Market Analysis: July 22nd, 2025
Global Markets
Canadian Markets
Canada’s stock market edged higher, led by gains in gold prices flowing into strength in mining stocks, which helped support the TSX. Canadian investors remain cautious ahead of the August 1 deadline for potential new tariff implementations, which could impact key trade sectors, as the Canadian Prime Minister asserts he will only agree on a deal that benefits Canada.
American Markets
US stocks traded mostly lower as investors digested a wave of earnings reports from top companies.
General Motors (GM) reported better-than-expected Q2 earnings and reaffirmed its full-year guidance, despite ongoing pressure from the 25% auto tariffs on imported vehicles and parts. The company maintained its earlier estimate of a $4–$5 billion impact from tariffs and did not revise that outlook. However, shares fell 6% following the report, as investor concerns linger over tariff-related headwinds and broader trade uncertainty.
Google (Alphabet) is scheduled to release its earnings tomorrow, adding to the week’s high-stakes tech reporting.
European Markets
European markets fell sharply amid concerns that second-quarter corporate profits across the region will decline by an estimated 0.3%. Adding to the bearish tone, Nokia slashed its 2025 profit guidance, citing headwinds from new tariffs and a weaker U.S. dollar.
UK stocks reached a new record high, driven by gains in copper stocks. However, optimism was tempered by rising concerns over the UK’s public debt servicing costs, which are increasing due to higher interest payments.
Corporate News
3M Co Jefferies raised target price to $160 from $142, citing potential market share growth through new products.
Airbnb Inc Sued by Los Angeles for price gouging during January wildfires affecting over 2,000 properties.
Alaska Airlines Group Inc Resumed flights after a 3-hour IT outage, the second major halt in just over a year.
American Express Co JPMorgan raised target price to $343 from $342 following solid Q2 earnings.
BHP Group Ltd. BHP selling stake in Kabanga nickel project to Lifezone for up to $83 million due to uncertain market outlook.
Blackstone Inc Withdrew from TikTok U.S. deal consortium amid U.S.-China tensions and deal delays.
Boeing Co Court hearing set for August 28 over DOJ agreement to avoid prosecution tied to 737 MAX crashes.
Brookfield Renewable Corp Will invest up to $1 billion to raise stake in Isagen S.A. to 38%; Qatar Investment Authority to invest $500M.
Champion Iron Ltd Nippon Steel and Sojitz to invest C$245M in Kami iron ore project for 49% stake (Champion retains 51%).
Charles Schwab Corp Citizens raised target price to $110 from $106, citing strong growth, blockchain, and AI initiatives.
Dynamix Corp Merging with The Ether Reserve to list on Nasdaq, raising over $1.6B with over 400,000 ETH on balance sheet.
Domino’s Pizza Inc Beat same-store sales expectations (3.4% vs. est. 2.21%); EPS at $3.81 (vs. est. $3.95), revenue $1.15B.
Goldman Sachs Group Inc Appointed Samuel Green as managing director of Australian real estate investing.
HDFC Bank Ltd Q2 profit rose 12.2% to ?181.55B, beating forecasts; interest income and treasury gains surged.
ICICI Bank Beat forecasts with 15.5% profit growth to ?127.68B; loan book rose 12%, led by business loans.
Meta Platforms Inc Settled $8B data privacy trial last-minute, avoiding Zuckerberg testimony; terms still pending.
Microsoft Corp Issued alert over server attacks; collaborating with France to recreate Notre-Dame digitally. Also halting China-based military tech support amid Pentagon review.
Miami International Holdings Filed for IPO, reporting wider Q1 loss; proceeds will go to debt, acquisitions, and investments. Ticker: MIAX.
Ryanair Holdings PLC Q1 profit more than doubled to €820M; expects strong summer bookings and fare recovery.
Sarepta Therapeutics Inc Leerink downgraded to Market Perform (from Outperform), slashed target to $10 (from $45), citing risk of Elevidys withdrawal.
SS&C Technologies Holdings Inc Acquiring Calastone (British fund network) from Carlyle for £766M, expanding global fintech footprint.
Stellantis NV Posted €2.3B H1 loss, citing Trump tariffs and product strategy revamp in U.S. and EU.
Tesla Inc Raj Jegannathan now leading Tesla sales, replacing Troy Jones; shift reflects focus on IT-driven sales amid declining demand.
Union Pacific Corp & Norfolk Southern Corp Exploring $200B merger, which would create a coast-to-coast rail network; early talks, potential regulatory hurdles.
Zeekr Intelligent Technology Holding Ltd Along with Neta, accused of inflating sales figures by pre-registering cars to meet aggressive targets.
