Market Analysis: June 19th, 2025
Canadian Markets
Canada's main stock index (S&P/TSX) fell as investors grew cautious over the possible U.S. involvement in the Israel and Iran conflict, which has been driving oil higher amid supply concerns. Investors are waiting on April's Canadian retail sales, due Friday, to gauge whether consumer spending remains resilient amid ongoing tariff uncertainty. Trading volumes in Canada were light as U.S. markets were closed for Juneteenth, dampening overall liquidity.
American Markets
U.S. markets remained closed for the Juneteenth holiday, but American traders have begun absorbing the Fed's latest update. The central bank paused on rates yet retained a hawkish posture, flagging persistent inflation threats linked to tariffs and geopolitical disruptions . Market sentiment remains split: some view the economy as resilient, while Fed officials point to growing weakness driven by tariff-induced price pressures . Meanwhile, the U.S. dollar held steady, oil climbed on Middle East worries, and spot gold inched higher amid safe-haven demand .
European Markets
European stocks retreated broadly as geo-political fears and tariff inflation risks weighed on sentiment Norway's central bank surprised markets by cutting its policy rate by 25 bp to 4.25%, the first cut in five years, citing a milder inflation outlook and flagging further reductions later in 2025 The Norwegian krone weakened sharply following the decision .
UK Stocks also dropped, as the Bank of England held rates steady and warned that global conditions remain 'highly unpredictable', maintaining policy at a 2 low as UK equities followed the broader European downturn.
Corporate News
Airbus:Airbus secured additional aircraft orders on Wednesday, bringing its total to $21 billion at this week's relatively quiet Paris Air Show. Boeing, in contrast, made no new announcements following the Air India 787 crash.
Chevron:Chevron is seeking buyers for its 50% stake in the Singapore Refining Company (SRC), with bids invited from parties including joint venture partner PetroChina, according to sources familiar with the matter.
Empire Co. (Sobeys, Safeway):Empire Company, parent of Sobeys and Safeway, reported higher Q4 profits and announced a dividend increase.
Google (Alphabet Inc.):Alphabet's Google faced a setback as an EU court adviser supported antitrust regulators in their case upholding a €4.34 billion fine imposed on the company.
Mars Inc.:Mars has not offered any remedies to EU regulators reviewing its proposed $36 billion acquisition of Pringles-maker Kellanova, according to an update on the European Commission's website.
Nippon Steel:Nippon Steel's CEO stated that the U.S. government's golden share in U.S. Steel will not affect the company's management autonomy if its takeover proceeds.
Pernod Ricard:Pernod Ricard is reorganizing its business into two main divisions to simplify operations and respond to declining European spirits sales.
Shell:Shell CEO Wael Sawan said the company is exercising extreme caution with its Middle East shipping routes due to rising tensions between Israel and Iran.
Tesla:Democratic lawmakers in Texas have asked Tesla to delay the launch of its robotaxi service in Austin until September, when new autonomous driving legislation is scheduled to take effect.
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CTV News
19 minutes ago
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CBC
20 minutes ago
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Horse racing community blindsided by Surrey, B.C., racetrack closure
Social Sharing The local horse racing community is in shock following the closure of the Fraser Downs racetrack in Surrey, B.C. The news came just weeks before Harness Racing B.C. races were set to start. Kelly MacMillan, spokesperson for the group, said there was no prior warning about the closure. "It was just a complete shock. We had no idea this was coming," MacMillan said. "We were expecting to start racing on September 4 and people have ... incurred great expenses, just have that pulled out at the 11th hour." Great Canadian Entertainment, which owns and operates the track, said Friday the closure takes effect immediately, though the adjacent Elements Casino Surrey will remain open. The decision follows notice from the City of Surrey, which owns the Cloverdale Fairgrounds where the racetrack is located, that it is terminating the lease. Fraser Downs was B.C.'s only standardbred horse racing facility and had been in operation since 1976. While the grandstand and adjacent Elements Casino will remain open, the racetrack, stables and backstretch will be shut down. Development plans In a statement, Surrey Mayor Brenda Locke said the decision allows the city to begin critical planning to "revitalize the Cloverdale Fairgrounds and Town Centre." It's part of a broader redevelopment plan for Cloverdale Fairgrounds, which include new housing, a $3 billion hospital, public spaces, cultural facilities and expanded recreation amenities. However, it is unclear what exactly will be built at the nearly five-hectare site. MacMillan and others in the industry argue the decision fails to consider the impact for workers, horse owners and breeders. "Some of the staff are going to be on the street," he said. "The people that support horse racing [like] feed stores, hay stores, they've just lost a huge client without notice and no ability to plan around it." WATCH | Horse racing at one of the two remaining racing tracks in B.C.: Fraser Downs closure shocks B.C. horse racing community 13 hours ago Horse racing at one of the two remaining racing tracks in B.C. has come to an end after the City of Surrey revealed its plans to redevelop the land for housing and other public amenities. As Sohrab Sandhu reports, the news has come as a huge shock to the racing community. Doug McCallum, the former mayor of Surrey and former CEO of Harness Racing B.C., is calling the closure "a devastating blow to Surrey's economy, heritage and working families." "Locke has steamrolled an entire industry in Surrey," he said in a statement Monday. "Trainers, breeders, jockeys, and workers with unique skill sets are now out of work. These aren't jobs that can be replaced overnight." Surrey Coun. Linda Annis supports the city's decision, stating that housing is desperately needed for the city's rapidly growing population. "The city needs to look at what we can do with the lands that would be best for the residents of Surrey, what can we do to better utilize the lands there in terms of housing, improving public spaces," she said. Locke says the redevelopment will help protect Old Cloverdale as a "historic precinct," but critics question how ending a nearly 50-year-old racing tradition achieves that. "What better way to preserve the early way of life in the heritage than to continue on racing?" said David Milburn, president of the Horsemen's Benevolent Protective Association of B.C. "It's only five hectares we're talking about here …they can go ahead with their development and still continue the race track there." One remaining racetrack in B.C. Milburn says his association has "great sympathy" for the standardbred community and plans to help them find new racing opportunities. 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WATCH | Rat infestation shuts down popular Surrey horse racetrack: Rat infestation shuts down popular horse racetrack and training facility in Surrey 3 months ago A rat infestation has shut down a popular horse racetrack and training centre in Surrey. Horse owners have filed a lawsuit in hopes of keeping the facility open while the pests are exterminated. As CBC's Jon Hernandez reports, it's one of the only horse training facilities of its kind in the province. No horses have been stabled at the site since late May but the racing community had held out hope for a September return. "Had we been given notice, we could've prepared," MacMillan said. Despite the setback, he says the association is exploring alternatives.
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29 minutes ago
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Shares of the Zacks Rank #1 (Strong Buy) company have gained 26.9% in the past three months compared with the industry 's 23.8% rise. DDS Stock's Price Performance Detailed Analysis of DDS' Q2 Performance Total retail sales (excluding CDI Contractors, LLC) increased 1.5% year over year to $1.447 billion. On a 13-week comparison basis, total retail sales rose 1% year over year while comps increased 1%. Category performance was mixed, with juniors' and children's apparel, along with zladies' accessories and lingerie, delivering stronger results, while home and furniture remained the weakest-performing category. Our model had predicted comps growth of 1.3% for the fiscal second quarter. The consolidated gross margin contracted 100 basis points (bps) year over year to 36.6%. 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Total shares outstanding (Class A and Class B Common Stock) at Aug. 2, 2025, and Aug. 3, 2024, were 15.6 million and 16.2 million, respectively. The company still forecasts capital expenditure of $120 million for fiscal 2025, suggesting an increase from the $105 million reported in fiscal 2024. As of Aug. 2, 2025, DDS operated 272 Dillard's stores, including 28 clearance stores across 30 states and an online store at What Dillard's Expects for FY25 For fiscal 2025, Dillard's continues to expect depreciation and amortization expenses of $180 million compared with $178 million recorded last fiscal. The company projects interest and debt income of $7 million compared with $14 million in fiscal 2024. It still anticipates rentals of $20 million compared with $21 million reported in fiscal 2024. Other Key Picks Some other top-ranked stocks are Levi Strauss & Co. LEVI, Wolverine World Wide, Inc. WWW and Torrid Holdings CURV. Levi designs and markets jeans, casual wear, and related accessories for men, women and children. It flaunts a Zacks Rank #1 at present. You can see the complete list of today's Zacks #1 Rank stocks here. The Zacks Consensus Estimate for Levi's current fiscal-year earnings indicates growth of 4% from the year-ago actual. LEVI delivered a trailing four-quarter average earnings surprise of 25.9%. Wolverine is engaged in the designing, manufacturing and distribution of a wide variety of casual as well as active apparel and footwear. It currently sports a Zacks Rank of 1. The Zacks Consensus Estimate for Wolverine's current financial-year earnings and sales indicates growth of 43.9% and 6.2%, respectively, from the year-ago actuals. WWW delivered a trailing four-quarter average earnings surprise of 39.1%. Torrid Holdings currently carries a Zacks Rank #2 (Buy). 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Access AI Boom 2.0 now, absolutely free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Dillard's, Inc. (DDS): Free Stock Analysis Report Wolverine World Wide, Inc. (WWW): Free Stock Analysis Report Levi Strauss & Co. (LEVI): Free Stock Analysis Report Torrid Holdings Inc. (CURV): Free Stock Analysis Report
