Stocks edge higher despite TACO trade
The S&P and Nasdaq inched higher to record closes, despite growing talk of complacency in the market over Trump’s ever-changing tariff decisions (Brazil being the latest target). The S&P added 0.27% and the Nadaq 19 points to 30,630 while the Dow climbed 0.43%. The U.S. 10-year yield stayed at 4.344%.
Delta Airlines delivered a convincing beat to raise its shares by 11.99% but also lift the entire leisure and travel sector. United Airlines soared 14.33%, and Caesars rallied 6.49%. Elsewhere, Fortinet slid 6.92%, though Estee Lauder jumped 6.34%. Bitcoin rose 2.5% to US$113,540.
In Toronto, the TSX returned to 27,000 after gaining 0.41%. Eight sectors rose, led by industrial and financials, while staples lagged the most. Key names on Bay Street included Energy Fuels soaring 16.34%, TransAlta 5.81%, Air Canada 3.74%, Denison Mines 3.46% and Boralex -3.37%. Gold advanced US$10 to US$3,324 while WTI declined US$1.50 to US$66.90.
🛫 Delta Air Lines Inc (DAL-N) +11.99%
🛫 United Airlines Holdings (UAL-Q) +14.33%
♠ Caesars Entertainment (CZR-Q) +6.49%
💻 Fortinet Inc (FTNT-Q) -6.92%
💄 Estee Lauder (EL-N) +6.34%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.5%
🛢 Energy Fuels Inc. (EFR-T) +16.34%
💡 Transalta Corp (TA-T) +5.81%
🛫 Air Canada (AC-T) +3.74%
⛏ Denison Mines Corp (DML-T) +3.46%
💡 Boralex Inc. (BLX-T) -3.37%
UnlockRatingOver the past year or so, his firm has really been trying to find higher dividend-paying stocks. Resource stocks are where he's finding opportunity right now, while his colleague is specializing in growth names. They're trying to build a high-income engine within their long-term strategy.
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UnlockRatingOur PAST TOP PICK with CGI is progressing well. To remain disciplined, we recommend trailing up the stop (from $32.00) to $35.50 at this time.
UnlockRatingThey just announced huge Q2 deliveries. He sees this flying much higher.
UnlockRatingMarket Update:
Canada factory Purchasing Manager’s Index (PMI)declined to 45.6 from 46.1 in May, marking the fifth straight month sub-50 continues, as the trade war with the U.S drove the continued downturn. On the other hand, the US trade deficit widened by 18.7% to $71.5 billion in May, driven by weak exports, while economists warned that it could take some time for the tariff-related effect to affect the economic data. The Canadian dollar was 73.62 cents USD. The U.S. S&P 500 ended the week up 2.1%, while the TSX was up 1.7%.
A lot more greens this week than reds. Consumer discretionary and industrials gained 4.4% and 2.4%, respectively. Technology and financials added 2.2%, each, while real estate edged up by 1.9%. Materials gained 1.5%, while Energy ended the week up 0.4%. Consumer staples ended the week down slightly, 0.1%. The most heavily traded shares by volume were TC Energy (TRP), Toronto-Dominion Bank (TD) and National Bank of Canada (NA).
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Stocks climb despite tariff threats
Wednesday saw more TACO headlines from Trump as he slapped tariffs on copper entering the U.S. and on everything from Brazil. Despite that, the S&P rose 0.61%, the Nasdaq 0.94% to a new high and the Dow 0.49%. The U.S. 10-year yield held around 4.34%.
Key names were AES soaring 19.78%, Nvidia 1.82% to new highs and a $4 trillion market cap , Palantir 2.45%, Fair Isaac -6.54% and Hershey -4.7%. Gold remained rangebound around US$3,312 after gaining US$10, while WTI was flat at US$68.30.
The TSX returned to 27,000 after adding 0.26%. Eight sector modestly gained, with materials leading, while telcos was among the laggards, though loses were small. Given tariffs, many mineral names made major moves: Endeavour Silver up 9.06%, First Majestic Silver 5.21%, Fortuna 5.02%, and ERO Copper -9.42%. Meanwhile Open Text sank 4.34%.
🧬 AES (AES-N) +19.78%
💾 NVIDIA Corporation (NVDA-Q) +1.82%
💾 Palantir Technologies (PLTR-Q) +2.45%
🏛 Fair Isaac Corp. (FICO-N) -6.54%
🍫 Hershey Foods Corp (HSY-N) -4.7%
🥈 Endeavour Silver Corp. (EDR-T) +9.06%
🥈 First Majestic Silver (AG-N) +5.21%
⛏ Fortuna Silver Mines (FVI-T) +5.02%
🥉 Ero Copper Corp (ERO-N) -9.42%
💾 Open Text (OTEX-T) -4.34%
UnlockRatingNumbers for Canadian financials are starting to accelerate. Canadian banks over-provisioned for loan losses; if they don't have to tap into those reserves, should see really strong numbers going forward. On technicals, all the Canadian banks are moving up the ranks. Over 10-20 years, there hasn't been a better investment. They all pay a dividend, though not fantastic growth every single year, a bit lumpy.
They've all done well, and TD has caught up to the others, so it wouldn't make sense to switch out of one for another at this point.
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Weekly 52-Week Low (or 52-Week High): ARIS-T, SAU-T, EXRO-X, NSCI-X and More 52-Week Highs and Lows (Jul 02-08)
52-Week High TSX Stocks Here’s this week’s 52-week high stocks on Stockchase… 🛢 Basic Materials 🚚 Industrials 🛍 Consumer ⚡ Energy 💡 Utilities 🏛 Financials 💻 Technology 👨⚕️ Healthcare 52-Week Lows TSX Stocks Here’s this week’s 52-week lows stocks… read more
Sideways Tuesday
The uncertainty caused by TACO (Trump’s ever-changing tariff policies) kept markets gridlocked on Tuesday as the S&P and Nasdaq were basically flat and the Dow sank 0.38%. Even the U.S. 10-year yield held around 4.4%, though Bitcoin gained 0.8% to US$108,760. Major movers on Wall Street included Intel rallying 7.3% after starting layoffs, Bank of America -3.13%, Fair Isaac -8.93%, Moderna popping 8.66% and Albemarle 7.19%.
In Canada, the TSX closed below 27,000 after slipping 0.49%. Sectors were mixed with energy and telcos outperforming all, and materials sinking the most by far. Major movers: Iamgold -7.81%, SSR Mining -8.7%, Ivanhoe Mines 4.23%, Baytex soaring 9.72% and Vermilion Energy up 4.86%. Gold declined US$33 to US$3,303 while WTI regained 0.56% to US$68.30.
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +0.8%
💾 Intel (INTC-Q) +7.3%
🏛 Bank of America (BAC-N) -3.13%
📃 Fair Isaac Corp. (FICO-N) -8.93%
💉 Moderna (MRNA-Q) +8.66%
⛏ Albemarle Corp (ALB-N) +7.19%
🥇 Iamgold Corp (IMG-T) -7.81%
⛏ SSR Mining (SSRM-T) -8.7%
⛏ Ivanhoe Mines Ltd (IVN-T) +4.23%
🛢 Baytex Energy Corp (BTE-T) +9.72%
🛢 Vermilion Energy Inc (VET-T) +4.86%
UnlockRatingHe was too early mid-2024 in calling energy, a mistake. Energy is in a sideways trading range, so that's the problem. Is optimistic energy long-term, but this will be dead money for the next couple months.
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