Mixed sentiment prevails as earnings season winds down

By Farah Mourad | 26 February 2024

Market close
  • Market movements reflect a mixed sentiment

  • The USD appears relatively unchanged

  • The Wall Street earnings season for Q4 2023 is winding down

Economic Data

In Canada, January's wholesale trade figures from Statistics Canada indicate a probable decrease of 0.6%, pointing to potential shifts in economic activity. Conversely, manufacturing sales are likely to have increased by 0.4% during the same period.

Meanwhile, in the US, January building permits have been revised, showing a smaller decline of -0.3% compared to the initial estimate of -1.5%. The annualized rate has also been adjusted upward to 1.489 million from 1.470 million. Looking ahead, there's an expectation for building permits to rise to 1.7 million over the next two years, driven by anticipated decreases in interest rates and a subsequent uptick in construction activity.


As the North American session kicks off, market movements reflect a mixed sentiment, with the EUR showing strength while the NZD lags behind. The USD, on the other hand, appears relatively unchanged, exhibiting gains against currencies like the NZD, JPY, and AUD, while experiencing declines versus the EUR, GBP, and CHF.


As for the broader market landscape, the Wall Street earnings season for Q4 2023 is winding down, with most major US companies having already disclosed their results. However, there are still noteworthy names on the earnings calendar for this week and these reports may offer further insights into the overall health and trajectory of various sectors within the market.