(fxcue news) - The Canadian market is likely to see a slightly volatile start on Thursday with a slew of corporate earnings announcements setting the trend for stocks. Worries about U.S. tariffs, and rising geopolitical tensions due to the Russia-Ukraine conflict might render the mood cautious. The minutes of the Federal Reserve's January policy meeting revealed concerns over inflation risks and U.S. President Donald Trump's harsh criticism of Ukrainian President Zelenskyy heightened tensions in the ongoing conflict. Trump called Ukraine's President Volodymyr Zelensky a "dictator" after the latter said the U.S. president was "living in a disinformation space" governed by Moscow. Higher commodity prices may trigger some buying in materials and oil stocks, although these may find it a bit tough to find support at higher levels. On the economic front, data on new housing prices in Canada, and producer & raw materials prices, all for the month of January 2025, are due at 8:30 AM ET. Teck Resources Limited (TECK.TO) reported profit from continuing operations before tax of C$256 million for the fourth quarter compared with loss of C$324 million in the same quarter a year ago, primarily helped by significant growth in copper production. Cenovus Energy (CVE.TO) reported net earnings of $146 million for the fourth quarter of 2024, compared to $743 million in the year-ago quarter. Loblaw Companies Ltd. (L.TO) reported fourth-quarter net earnings of $462 million, a decrease of $79 million or 14.6% from the year-ago quarter. Hydro One Ltd. (H.TO) reported fourth quarter basic earnings per share (EPS) of $0.33 compared to EPS of $0.30 for the same period in 2023. TransAlta Corporation (TA.TO) said it posted a net loss of$65 million, or $0.22 per share in the fourth quarter of 2024, compared to $84 million, or $0.27 per share, for the same period in 2023. Cameco Corporation (CCO.TO) reported net earnings of $135 million for the fourth quarter of 2024, compared to $80 million in the year-ago quarter. The Canadian market closed marginally down on Wednesday as tariff threats by U.S. President Donald Trump rendered the mood a bit cautious. The start was very weak, but stocks recovered gradually and the market very nearly broke into positive territory in the final hour. The benchmark S&P/TSX Composite Index ended down 22.68 points or 0.09% at 25,626.16, recovering more than 200 points from an early low of 25,439.39. The early weakness was due to Trump's threat to impose a 25% tariff on autos, alongside similar duties on semiconductors and pharmaceuticals. Asian stocks closed weak on Thursday as the minutes of the Federal Reserve's January policy meeting revealed concerns over inflation risks and U.S. President Donald Trump's harsh criticism of Ukrainian President Zelenskyy heightened tensions in the ongoing conflict. Trump called Ukraine's President Volodymyr Zelensky a "dictator" after the latter said the U.S. president was "living in a disinformation space" governed by Moscow. China's yuan got a lift after Trump said "it's possible" for the U.S. and China to have a new trade deal and that he expected Chinese President Xi Jinping to visit the United States, without giving a timeline for the trip. European stocks are broadly higher with investors reacting to earnings updates, and continuing to assess the potential impact of higher tariffs by the Trump administration. In commodities, West Texas Intermediate Crude oil futures are up $0.14 or 0.19% at $72.39 a barrel. Gold futures are gaining $29.50 or 1% at $2,965.60 an ounce, while Silver futures are up $0.537 or 1.63% at $33.580 an ounce.