📈 Tech Lifts, Tariffs Shift
📈 Tech Lifts, Tariffs Shift
Tech Lifts, Tariffs Shift
This week’s market headlines are all about movement. Microsoft and Meta helped fuel a rally on Wall Street with better-than-expected earnings, proving that AI and cloud investments are still paying off.
Meanwhile, North American auto suppliers got welcome news as CUSMA-compliant parts earned a reprieve from U.S. tariffs, easing trade tensions just a bit. And although gold prices dipped slightly, investor appetite for the metal remains strong amid ongoing global uncertainty.
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3 Minute Read:
Here's how some major markets/indexes performed in the last 5-days:
- Dow Jones: 41,305 (2.82%)
- Nasdaq 100: 20,119 (3.53%)
- TSX: 24,976 (1.11%)
- BTC: 97,403 (3.86%)
- Ethereum: 1,851 (3.29%)
(USD)
As of 05/02/2025 at 11:00AM PST
Auto Tariff Relief for Canadian Parts
Canadian auto parts just caught a break. U.S. Customs has clarified that components meeting CUSMA standards will be exempt from Trump’s 25% auto tariff set to take effect May 3. That’s welcome news for Canadian manufacturers, who move parts across the border several times before final assembly.
Why it matters: The exemption eases immediate supply chain pressure and may help cushion automakers from the broader tariff impact, especially as manufacturers face rising costs and potential production slowdowns.
North American Iron is on track to become the first U.S. producer of pig iron, an essential ingredient in steelmaking—aiming to restore supply chain stability and reduce reliance on foreign imports.
Rackla Metals (TSX.V: RAK) is advancing early-stage gold exploration with promising trenching results in a historically unexplored region of northern Canada.
Klondike Gold (TSX.V: KG, OTCQB: KDKGF) is advancing a significant gold project near Dawson City, Yukon, with recent high-grade discoveries pointing toward major growth potential.
Banyan Gold (TSX.V: BYN, OTCQB: BYAGF) is focused on expanding and enhancing the economics of its 7-million-ounce gold resource in the Yukon, with exploration and economic studies underway in 2024 and beyond.
Tech’s Still Got It
Despite trade tensions and persistent recession chatter, Big Tech is helping lift markets. Wall Street moved higher this week after upbeat earnings reports from Microsoft and Meta reassured investors that growth in tech is holding steady.
Microsoft’s Azure cloud business saw a 31% jump in revenue, fueled by continued demand for AI infrastructure. The company expects even faster growth next quarter as enterprise clients expand their usage and new data centers come online. Meta also beat expectations, with strong ad sales and consistent user growth across Facebook and Instagram. The results suggest global advertising demand remains more resilient than feared, even with global trade headwinds.
Why it matters: Tech’s resilience is giving the broader market a lift. As Microsoft and Meta lean further into AI and cloud services, investors are getting clearer signals on which sectors can still thrive through economic uncertainty.
📢 This Week's Selected Company News:
Microsoft and Meta Power Market Momentum
Microsoft and Meta helped lift Wall Street on Thursday, with both tech giants posting better-than-expected earnings that reassured investors amid ongoing macro uncertainty. Microsoft jumped after reporting strong Azure cloud and AI-driven growth, while Meta saw gains following a solid revenue beat and continued strength in digital advertising. The upbeat results from these two market leaders contributed to broad market gains, reinforcing investor confidence in the tech sector’s ability to weather global headwinds and sustain momentum.
Kandi Hits the Gas on U.S. Production
Kandi Technologies has officially launched its U.S. manufacturing operations in Garland, Texas, rolling out its first domestically assembled electric golf cart. The move marks a significant step in the company’s North American expansion, aimed at boosting delivery speed and deepening its EV footprint. The new facility will produce Kandi’s full line of off-road EVs, with more localized battery production also in the pipeline.
Westport Secures Shareholder Support for Light-Duty Business Sale
Westport Fuel Systems has locked in support from key shareholders, executives, and board members representing over 11% of outstanding shares for its planned divestment of its Light-Duty business. The company signed lock-up agreements ahead of a shareholder vote on the proposed sale of Westport Fuel Systems Italia S.r.l. to Netherlands-based Heliaca Investments. The deal, valued at up to $79.6 million including potential earnouts, is expected to close in Q2 and will help streamline Westport's operations while reinforcing its focus on heavy-duty decarbonization technologies.
📬 That’s a wrap for this week!
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