Here are five things you need to know this morning
Stocks rise on tech earnings, metals rebound: North American stock markets are poised to open higher today thanks to a robust earnings report from Palantir Technologies and a rebound in precious metals prices. Palantir forecast revenue for fiscal 2026 that significantly exceeded Wall Street expectations, a boost for the data analytics company after its shares have gotten off to a lackluster start so far this year.
Precious metals recover: Gold and silver are rebounding, after a historic collapse from all-time highs lured dip-buyers back to precious metals. Spot gold climbed as much as 6.2 per cent to near US$4,950 an ounce, recovering somewhat from its worst rout in more than a decade. Silver rose more than 10 per cent — trading above $87 an ounce — as a risk-on tone returned to the markets. The two precious metals soared last month in a rally underpinned by speculative momentum, geopolitical upheavals and concerns about the Federal Reserve’s independence. The surge came to an abrupt halt at the end of last week, with silver seeing its biggest daily drop on record and gold plunging the most since 2013, after a slew of warnings from market watchers that the advances had been too large and too swift.
Record grain shipments at CPKC: Canadian Pacific Kansas City says it set a new record for shipping Canadian grain and grain products in January, both by the amount and carload. The Calgary-based company says an effective crop year, winter planning and demand forecasting helped prepare the railway. Last week, the railway operator also reached a record high in fourth quarter grain revenue driven by a bumper crop.
BMO fined $4 million: The Financial Consumer Agency of Canada says it has applied a $4 million penalty on Bank of Montreal for overcharging customers after it failed to properly disclose fee details. The watchdog says the violations relate to charging clients monthly plan fees that should have been waived or discounted. The agency says 101,091 customers were affected between 2010 and 2024 and that the bank has issued refunds totalling more than $3 million. The bank has donated a further $600,000 for amounts that couldn’t be refunded. A BMO spokesperson says the bank holds itself to the highest standards of conduct, that it proactively reimbursed its customers and it reported the issue to the FCAC.
Super Bowl snack price break: PepsiCo is cutting prices by as much as 15 per cent for key brands, including Lay’s and Doritos, in a bid to lift sales by offering more affordable products. The New York-based snacks and beverage company says reductions on suggested retail prices for marquee items are rolling out this week ahead of Sunday’s Super Bowl, while keeping sizes the same. PepsiCo has been pressured by Elliott Management Investment, which took a US$4 billion stake in the company last year, to revamp its product lineup and make key brands more affordable. The soda maker reached an agreement to do just that with the investor in December, pledging to reduce its U.S. product lineup and cut some prices.
