A Week of Resets, Results, and Resource Signals
Add in fresh momentum behind Canada’s critical minerals push, and investors are weighing short-term swings against a backdrop that still looks constructive.
A Week of Resets, Results, and Resource Signals
Markets moved fast this week as policy pivots and corporate results reshaped the outlook. Ottawa rewrote its EV strategy with incentives replacing mandates, TMX Group delivered a standout quarter powered by trading and data, and precious metals cooled after a record surge. Add in fresh momentum behind Canada’s critical minerals push, and investors are weighing short-term swings against a backdrop that still looks constructive.
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Here's how some major markets/indexes performed in the last 5-days:
- Dow Jones: 50,011 (2.53%)
- Nasdaq 100: 25,014 (-1.87%)
- TSX: 32,362 (1.39%)
- BTC: 70,435 (-8.41%)
- Ethereum: 2,053 (-9.42%)
(USD)
As of 02/06/2026 at 11:50AM PST
TMX Group Outperforms as Trading and Data Services Gain Traction
Catch Up
John McKenzie, CEO of TMX Group, joined BNN Bloomberg to discuss the company’s outlook following its Q4 2025 results, which came in ahead of market expectations. The Canadian exchange operator pointed to strong trading activity and expanding data services as key drivers behind a record year.
What Happened
- TMX reported quarterly results that beat consensus estimates, underpinned by increased trading volumes and expanded revenue from market data services.
- Both equity and derivatives trading contributed to the firm’s top-line performance, while recurring data subscriptions helped stabilize results.
- Management highlighted strength in client demand and continued investment in digital offerings that support trading infrastructure and analytics.
Why It Matters
For investors, TMX’s performance reinforces the resilience of exchange operators in environments where market participation and information services remain in demand. Strong trading activity tends to correlate with heightened volatility and liquidity, which can buoy revenue for venues like TMX. Meanwhile, growth in data products supports earnings stability, offering recurring revenue that can help offset swings in transaction-based income. This mix may be particularly relevant for those watching financials and technology-linked segments within Canadian markets.
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Canada’s Critical Minerals Strategy Moves to the Forefront
Catch Up
As demand for critical minerals continues to rise globally, Canada is pressing ahead with initiatives to support mining, processing, and supply chain development for materials seen as essential to the clean-energy transition and emerging technologies.
What Happened
- Policymakers and industry stakeholders have highlighted critical minerals as a strategic priority for 2026, with a focus on scaling production and refining capacity.
- Efforts are underway to attract investment into sectors tied to electric vehicles, batteries, semiconductors, and renewable energy equipment.
- Partnerships between government and private firms aim to reduce reliance on concentrated supply sources and strengthen domestic processing capabilities.
Why It Matters
Critical minerals play a central role in enabling technologies from EV batteries to advanced electronics, and Canada’s resource base positions it as a meaningful player in this space. For investors, momentum in this sector could translate into opportunities across mining equities, midstream processors, and companies linked to energy transition value chains. Clarity around policy support and trade relationships may be an important factor shaping capital flows into these markets throughout 2026.
Between now and spring 2026, FireFox Gold (TSX.V: FFOX, OTCQB: FFOXF) intends to complete an ongoing program of more than 10,000 metres of diamond drilling and undertake bottom-of-till sampling at numerous targets along the trend.
Recent drilling programs have focused in and around the existing pits with the goal of adding mineable ounces. Lahontan Gold (TSX.V: LG, OTCQB: LGCXF) has received its plan of operations permit, allowing the company to move into the next phase of defining the size and potential of the project.
A New Road for EV Policy: Incentives In, Quotas Out
Catch Up
Canada is reshaping how it pushes electric-vehicle adoption, swapping rigid sales targets for a mix of consumer incentives and tighter emissions rules. The updated strategy aims to support buyers and automakers without relying on a strict all-EV requirement.
What Happened
- Ottawa reintroduced federal rebates for eligible electric and plug-in hybrid vehicles, with incentives tied to price thresholds and vehicle origin.
- The previous nationwide sales mandate for 2035 has been shelved in favour of progressively tougher emissions standards later this decade.
- The program carries a multi-billion-dollar budget over five years and is designed to encourage hundreds of thousands of purchases.
- Eligibility rules prioritize vehicles produced in Canada or trade-partner countries, limiting access for some foreign imports.
Why It Matters
The policy shift eases pressure on the auto sector while still aiming to move consumers toward lower-emission vehicles. For investors, the focus on rebates rather than quotas could support near-term demand for domestic manufacturers and parts suppliers, while charging infrastructure and battery value chains stand to benefit from steadier adoption. Trade negotiations remain a swing factor that could reshape which models ultimately qualify.
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📢 This Week's Selected Company News:
Titan Mining Begins Domestic Graphite Production
Titan Mining has launched production of natural flake graphite at its New York demonstration facility, advancing efforts to build a U.S.-based supply of the critical mineral. The initial output will support customer qualification programs as the company works toward scaling operations and reducing reliance on imported graphite for energy and technology markets.
Glencore and Rio Tinto Call Off Merger Talks
Glencore and Rio Tinto have ended discussions about a potential merger between the two mining giants, concluding that the strategic fit did not align with shareholder value objectives. Both companies said they remain focused on their respective growth plans and operational priorities, leaving industry consolidation talk in the rearview for now.
Nvidia Reaffirms Major CapEx Plan, Shares Jump
Nvidia’s stock climbed after the company’s CEO reiterated confidence in its substantial capital expenditure program, designed to support long-term growth in AI and data center infrastructure. The leadership team emphasized that the roughly $660 billion buildout is sustainable and aligned with demand trends, bolstering investor confidence in the company’s strategic trajectory.
📬 That’s a wrap for this week!
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Trade tides shift and gold chills
2026 is already setting the pace. Canada struck a breakthrough trade agreement with China, easing tariffs and opening key lanes for agri-exports and electric vehicles, a move that could reshape cross-Pacific commerce. Meanwhile, gold took a healthy pause after a record-setting run, as upbeat U.S. data lifted the dollar and brought rate cut expectations back down to earth. Investors are watching closely, and so are we.