Trump Tariff Threats Affect Markets

Canada's primary stock index edged lower on Thursday as market participants weighed the potential consequences of fresh tariff threats issued by U.S. President Donald Trump.The TSX Composite Index nicked ahead 1.27 points to open Thursday at 25,627.43. The Canadian dollar restored 0.24 cents to 70.46 cents U.S. Trump announced plans to unveil fresh tariffs within the next month or sooner, targeting lumber and forest products in addition to previously announced duties on imported cars, semiconductors and pharmaceuticals.This announcement is particularly significant for Canada, one of the globe's leading producers and exporters of softwood lumber, with the lion's share of these exports destined for the United States.In corporate developments, Cenovus Energy reported a decline in fourth-quarter profits, while Teck Resources exceeded analysts' expectations for profit in the same period.Shares in Cenovus dipped 81 cents, or 3.6%, to $21.46. Top potash producer Nutrien fell short of Wall Street's forecasts for its fourth-quarter earnings, while Manulife Financial saw a 6% increase in quarterly profit.Nutrien traded higher by $1.59, or 2.1%, to $76.19. On the economic calendar, Statistics Canada’s new housing price index edged down 0.1% on a month-over-month basis in January, following the same decline in the previous month. Prices were unchanged in 15 out of the 27 surveyed census metropolitan areas (CMAs). Meanwhile, nine CMAs saw an increase, while three CMAs were down.Elsewhere, the Industrial Product Price Index rose 1.6% month over month in January and increased 5.8% year over year.Meanwhile, the Raw Materials Price Index grew 3.7% on a monthly basis and increased 11.8% year over year.ON BAYSTREET The TSX Venture Exchange recovered 3.33 points to 642.13. Seven of the 12 subgroups were lower in the first hour, weighed most by information technology and industrials, each down 1.1%, and consumer staples, off 1%. The five gainers were headed by health-care, up 2.4%, materials, sprinting 1.7%, and gold, brighter 1.5%. ON WALLSTREET Stocks moved lower Thursday, a day after the S&P 500 hit a fresh all-time high, while retail giant Walmart slid after issuing a disappointing outlook.The Dow Jones Industrials crumbled 381.44 points Thursday to 44,246.15The much-broader dumped 44.11 points to 6,100.04The tech-heavy NASDAQ dropped 181.7 points to 19,874.55. Dow member Walmart dropped more than 4% after the company said it expects fiscal year sales to grow between 3% and 4%. The company’s fiscal 2026 earnings outlook, meanwhile, was below analyst expectations. The weak guidance overshadowed fiscal fourth-quarter earnings that topped estimates.Target and Costco traded more than 1% lower, following Walmart’s move.Prices for the 10-year Treasury gained, lowering yields to 4.51% from Wednesday’s 4.53%. Treasury prices and yields move in opposite directions.Oil prices progressed 35 cents to $72.60 U.S. a barrel. Prices for gold moved higher $17.10 an ounce to $2,953.80 U.S.