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TSX Weekly: Big Earnings Week; Insurance, Energy Heavyweights Report Q4Results

Stock Markets Feb 07, 2022 12:51
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By Ketki Saxena

Investing.com -- The TSX closed out last week at 21,286 points or up 2.6% for the week. The S&P 500 was at 4,501 points or up 1.5% for the week. Oil continued its surge past $90 for the first time since 2014, with WTI closing the week at $92.23 or up 6.2% for the week and 22.6% for the year. 

Last week’s major economic data on both the U.S. and Canadian front includes labour force and unemployment rates. The Canadian labour force lost 200,000 jobs in January, largely a result of last month’s fresh Omicron-related lockdowns. However, Canada's total employment still sits above pre-pandemic levels even with January's decline. Analysts expect a quick rebound as lockdown measures are lifted across the country. 

The U.S. on the other hand added 467,000 jobs in January despite Omicron-driven concerns, far exceeding expectations. 

What to watch in the markets this week 

As of 12:45 ET, the TSX was down 0.43% at mid-day trading, with losses in the energy, technology and industrial sectors. Investors should expect an exciting and potentially volatile week ahead. Earnings are in full swing this week, with TSX heavyweights including Brookfield Asset Management , Enbridge, Manulife, Sunlife set to report Q4 2021 results. In particular, it’s a big week for Energy, Insurance, and Cannabis players.

Weekly Calendar

Monday

Major Earnings: TMX Group Limited (TSX:X), TFI International Inc (TSX:TFII)

Tuesday 

Major Earnings: Thomson Reuters Corp (TSX:TRI) Cenovus Energy Inc (TSX:CVE), Intact Financial

Economic Data: ​​Canadian trade balance, U.S. trade balance

Wednesday 

Major earnings: Manulife Financial Corp (TSX:MFC), Great-West Lifeco Inc . (TSX:GWO), Sun Life Financial Inc. (TSX:SLF)

Economic Data: Bank of Canada Governor Tiff Macklem speech to Canadian Chamber of Commerce "The Evolution of Canadian Businesses"

Thursday 

Major Earnings: Brookfield Asset Management Inc (TSX:BAMa), Telus Corp (TSX:T), Fairfax Financial Holdings Ltd (TSX:FFH), MEG Energy Corp (TSX:MEG), Bombardier Inc (TSX:BBDb), Canada Goose Holdings Inc (TSX:GOOS), Aurora Cannabis Inc (TSX:ACB)

Economic Data: ​​U.S. CPI, Initial jobless claims

Friday

Major Earnings: Enbridge Inc (TSX:ENB) Fortis Inc (TSX:FTS), Magna International Inc (TSX:MG)

Economic Data: U.S. University of Michigan consumer sentiment Index

For more real-time data, visit our earnings and economic calendars. 

TSX Weekly: Big Earnings Week; Insurance, Energy Heavyweights Report Q4Results
 

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