TSX Weekly: Shopify, Air Canada Earnings; Canadian Inflation, Housing Price Data

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By Ketki Saxena

Investing.com -- The S&P/TSX Composite Index closed out last week at 21,527 points or up 0.97%  for the week. Gains were driven primarily by the financial sector, which has benefited from a rising yield environment, and materials and mining, as investors' uncertainty in equity markets saw the price of gold spike past $1,860. 

The energy sector also benefited from the rise in oil prices over Russia-Ukraine uncertainty, with WTI closing the week at $93.84, up 1.7% for the week, and 24.8% YTD. 

U.S. markets closed lower last week, with the S&P 500 at 4,427 points or down -2.10% for the week. Investors continue to grapple with geopolitical fears over Russia, the ongoing, seismic rethinking of valuations, and hot inflation data that has markets pricing in - and perhaps overpricing - aggressive rate hikes. 

Last week’s economic data included hot inflation in the U.S. up 7.5% from a year ago, marking the largest gain since 1982. Canadian inflation data is expected this week, estimated officially at 4.8% or a nearly 30 year high. 

TSX this week: Shopify, Air Canada , Canadian Tire Earnings

It’s another big week for earnings on the TSX, with major Canadian companies set to report Q4 2021 earnings, including Air Canada (TSX:AC), Canadian Tire (TSX:CTCa), Tim Horton's parent company Restaurant Brands International LP (TSX:QSP_u), and e-commerce darling Shopify. 

In particular, it’s a major week for Mining companies' earnings including Yamana Gold (TSX:YRI), Barrick Gold Corp (TSX:ABX), and Kinross Gold Corp (TSX:K), as well as major REITs including H&R REIT (TSX:HR_u), Dream Office REIT (TSX:D_u), and Choice Properties REIT (TSX:CHP_u). 

Energy investors should also keep an eye out for Keyera Corp (TSX:KEY) and Emera Inc (TSX:EMA) Earnings.

Major Canadian economic data this week includes Canadian CPI, Ontario’s economic and fiscal update, home sales, housing starts, and home price index. Major economic data south of the border includes U.S. initial jobless claims, housing starts, retail sales, and producer price index. 

TSX Weekly Calendar: Major Canadian Earnings, Canadian, U.S. Economic Data 

Monday, February 14

• Notable earnings: Emera Inc. (TSX:EMA), H&R Real Estate Investment Trust (TSX:HR_u)

• Economic data: Ontario Finance Minister Peter Bethlenfalvy releases economic and fiscal update

Tuesday, February 15

• Notable earnings: TC Energy (TSX:TRP), West Fraser Timber Co Ltd (TSX:WFG), Restaurant Brands International (TSX:QSR), CT Real Estate Investment Trust (TSX:CRT_u)

• Economic data: Canadian existing home sales and housing starts, U.S. producer price index

Wednesday, February 16

• Notable earnings: Shopify Inc (TSX:SHOP), Barrick Gold Corp (TSX:ABX), Nutrien Ltd (TSX:NTR), Keyera Corp. (TSX:KEY), Kinross Gold Corp (TSX:K), Choice Properties REIT (TSX:CHP_u)

• Economic data: Canadian CPI, wholesale trade, and manufacturing sales; U.S. retail sales, U.S. Federal Reserve releases minutes from last meeting

Thursday, February 17

• Notable earnings: Canadian Tire Corp Ltd (TSX:CTCa), Home Capital Group Inc . (TSX:HCG), Chorus Aviation Inc (TSX:CHR), Ritchie Bros Auctioneers (TSX:RBA), MTY Food Group, Yamana Gold Inc (TSX:YRI), Dream Office Real Estate Investment Trust (TSX:D_u)
• Economic data: Canadian international securities transactions, Teranet/National Bank home price index; U.S. initial jobless claims, housing starts, building permits
• A two-day meeting of G20 central bank governors and finance ministers begins in Jakarta

Friday, February 18

• Notable earnings: Air Canada (TSX:AC)

• Economic data: Canadian retail sales, U.S. existing home sales