Canadian Stocks Expected to Open Higher; Retail Sales Data Takes Center Stage

The Canadian stock market is anticipated to open higher on Friday, January 23, 2026, as investors focus on the upcoming retail sales data release. Economists expect a modest increase in December's retail sales, which could bolster confidence in the country's economic resilience amid global uncertainties. Analysts at TD Securities noted that consumer spending has remained steady despite inflationary pressures, suggesting a potential positive impact on key indices like the S&P/TSX Composite (TSE: XIC). The data, scheduled for release at 15:30 ET, will be closely monitored for insights into consumer behavior and its implications for monetary policy decisions by the Bank of Canada.