Here are five things you need to know this morning
Canada loses jobs but unemployment rate dips: The Canadian economy shed 25,000 jobs last month, with the largest employment losses in manufacturing as U.S. tariffs continue to take a bite out of the sector. However, the impact of the job losses on the unemployment rate was counterbalanced by fewer people looking for work, allowing the rate to fall to 6.5 per cent, according to Statistics Canada. January’s employment decline was the steepest since August, with Ontario’s labor market taking the largest hit, losing 67,000 jobs.
Stocks set for cautious rebound: North American stock markets look set to open cautiously higher after another big selloff Thursday. Investors have been spooked by developments on two fronts: the rollout of models from AI startup Anthropic that threaten to render large swaths of software services redundant, alongside the eye-watering spending plans of tech companies. As well, the sudden sharp reversal in gold and silver prices has hit the heavily-weighted materials sector on the TSX.
Spending plans hit Amazon shares: Shares of Amazon traded down by as much as eight per cent in the pre‑market, after the e-commerce giant said it plans to spend US$200 billion this year on data centers, chips and other equipment. The forecast is 50 billion dollars higher than analysts had expected. Analysts are noting concerns about how much big tech companies are spending on AI-related investments and when they will pay off.
Stellantis travelling in reverse: Shares of Stellantis traded down by more than 25 per cent in the pre‑market. The automaker is taking a more than US$25 billion writedown linked to its shift in EV strategy. The writedown covers the cost of canceling EV models and compensating suppliers. The company also says it is selling its joint‑venture battery manufacturing plant in Ontario to its partner, LG Energy Solution.
The longevity trade: The world’s population is aging rapidly. By 2030, one in six people globally will be 60 or older, and by 2050 the number of people aged 80 and over is expected to triple. In Canada, nearly 19 per cent of the population is already 65 or older, and older age groups are growing quickly. In the latest episode of Ticker Take with Jon Erlichman, veteran investor Neela White explains how these demographic shifts are driving long‑term demand across healthcare, housing, and senior‑focused services, and highlights companies she believes are positioned to benefit.
