Trending stocks today
UnlockRatingOur PAST TOP PICK with MRD has triggered its stop at $12. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss 4%, when combined with our previous guidance.
Nasdaq enters correction, Trump tariffs whiplash
The Nasdaq entered correction territory and the S&P sank to its lowest level since last November as stocks sank in New York and Toronto amid ongoing tariff confusion. At the close: S&P -1.78%, the Nasdaq -2.61% or 483 points, and the Dow -0.99%. During the session, the White House announced that Mexican goods under the USMCA (that Trump originally signed) would be exempt from tariffs for a month. Then, late in the session, Trump added that both Mexican and Canadian goods (only 38%) under the USMCA would be exempt. Ottawa held its ground by refusing to cancel Canada’s own tariffs on American goods until Trump removed all his levies entirely. The ongoing chaos from Washington continues to fuel investor sentiment downward and drove the VIX up 15% to 25.
Key names on Wall Street: Nvidia -5.74%, Palantir -10.73%, Vistra -9.82%, Constellation Energy -9.43% and Tesla -5.61%. Bitcoin declined US$810 to US$89,560, while the U.S. 10-year yield hovered around 4.288%.
The TSX slipped 1.08% as only four sectors gained, including the safety of staples and telcos. Tech and healthcare led the other sectors down. Major movers on Bay Street: Parkland 5.73%, Manulife -2.28%, Aecon -16.08%, Celestica -10.39% and CNQ up 1.37% as the most active name. Gold gave back US$8 to US2,910 while WTI held around US$66.25.
Update: Ottawa announced that it won’t impose the second wave of tariffs against U.S. goods until April 2.
💾 NVIDIA Corporation (NVDA-Q) -5.74%
💾 Palantir Technologies (PLTR-Q) -10.73%
💡 Vistra (VST-N) -9.82%
💡 Constellation Energy (CEG-Q) -9.43%
🚗 Tesla Inc (TSLA-Q) -5.61%
🚚 Parkland Fuel Corp (PKI-T) +5.73%
🏛 Manulife Financial (MFC-T) -2.28%
🧱 Aecon Group Inc (ARE-T) -16.08%
🧬 Celestica Inc (CLS-T) -10.39%
🛢 Canadian Natural Rsrcs (CNQ-T) +1.37%
FIXED INCOME, GLOBAL EQUITIES & DIVIDEND
UnlockRatingHe'd sell a stock today if he didn't think it offered upside. By owning a stock, and buying it for new clients, he thinks there's more upside.
BUZZING ON SOCIAL MEDIAS
UnlockRating- Automatic Data Processing (ADP-Q)
- MP Materials (MP-N)
- Gold Resource (GORO-A)
- Tesla Inc (TSLA-Q)
- Alibaba Group Holding (BABA-N)
- NVIDIA Corporation (NVDA-Q)
- MicroStrategy (MSTR-Q)
- Walmart Inc (WMT-N)
- Altria Group Inc (MO-N)
- United Parcel Services (UPS-N)
- Coca-Cola Company (KO-N)
- Advanced Micro Devices (AMD-Q)
- Matterport (MTTR-Q)
- iQIYI Inc. (IQ-Q)
- Main Street Capital Corp. (MAIN-N)
UnlockRatingThey transport 3 million barrels of oil from Canada into the US each day, a major reason why North America is self-sufficient. It pays a 6.3% yield. ENB is big beneficiary of Trump's oil/has de-regulation. They won't be hit by tariffs, because they don't produce or market oil, but transports it.
UnlockRatingCanadian Financial Companies Well Positioned for Tariffs:
Canadian banks and insurance companies that have high exposure to the domestic market. These companies are not dependent on importing/exporting physical goods. Although sustained tariffs could lead to an economic slowdown and weaken consumer health over time, this scenario is unlikely to happen overnight.
Sun Life Financial (SLF, Market Cap: $45 billion): A well-established Canadian insurance company with a decent track record of profitability and dividend growth.
The Bank of Nova Scotia (BNS, Market Cap: $87 billion): An international bank with main exposure in Latin America and the domestic market.
Goeasy (GSY, Market Cap: $ 2.6 billion): a small-cap consumer lending business with superior growth and return on capital profile.
Unlock Premium - Try 5i Free
Markets recover, oil sinks
Markets in Toronto and New York regained some of yesterday’s losses, but remained down for the week. The latest from the White House was in giving the automakers a month’s reprieve from the sweeping tariffs, but the tariff cloud continues to hang over markets. The TSX rose 1.22% as all sectors but energy gained. Materials, discretionary and tech were the biggest winners.
Key names included Bombardier jumping 9.95%, First Quantum Minerals 9.59%, First Majestic Silver 7.33%, Suncor -3.11% and Baytex -4.68%. WTI crude sank 2.6% to US$66.50, the lowest since 2021, while gold edged up US$2 to US$2,920.
On Wall Street, the S&P advanced 1.12%, the Nasdaq 1.46% and the Dow 1.14% as materials and discretionary showed strength. Microsoft led the Mag 7 with a 3.19% pop, Moderna soared 15.94%, Ford 5.81%, Palantir 6.79%, but Crowdstrike slid 6.34%. In cryptos, Bitcoin recovered 3.1% to US$90,260, while the U.S. 10-year yield inched up to 4.288%.
🚂 Bombardier Inc (B) (BBD.B-T) +9.95%
⛏ First Quantum Minerals (FM-T) +9.59%
🥈 First Majestic Silver (AG-N) +7.33%
🛢 Suncor Energy Inc (SU-T) -3.11%
🛢 Baytex Energy Corp (BTE-T) -4.68%
Ⓜ Microsoft Corp (MSFT-Q) +3.19%
💉 Moderna (MRNA-Q) +15.94%
🚘 Ford Motor (F-N) +5.81%
💾 Palantir Technologies (PLTR-Q) +6.79%
💾 CrowdStrike Holdings (CRWD-Q) -6.34%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +3.1%
UnlockRatingTrump wants Canadian energy; if he can get it as cheap as he can, all the better. He reiterated "drill, baby, drill". But American producers are sitting on their hands because prices aren't high enough. Prices need to get above $80-90 or even higher before it's going to get attractive again.
He's followed 3 excellent analysts over the years, and at least one is calling for oil at (hold onto your hat) $200 a barrel. That may be excessive, but if it got to $90-100, all the oil stocks would do very well.
He likes the oil patch broadly speaking, as it's fairly low risk. He prefers the junior oils, rather like the junior golds, as those names are overlooked and cheap.
Weekly 52-Week Low (or 52-Week High): GWO-T, FNV-T, BTE-T, CNQ-T and More 52-Week Highs and Lows (Feb 26-Mar 04)
52-Week High TSX Stocks Here’s this week’s 52-week high stocks on Stockchase… 🏛 Financials ⚡ Energy 👨⚕️ Healthcare 💡 Utilities 🛍 Consumer 🛢 Basic Materials 🚚 Industrials 💻 Technology 💡 Utilities 52-Week Low TSX Stocks Here’s this week’s… read more
Trump tariff war triggers sell-off
Toronto and New York markets tumbled as the Trump tariffs began on Tuesday. What the Wall Street Journal and outgoing Prime Minister Trudeau dubbed “the dumbest trade war in history” triggered a sharp sell-off for much of the day. As expected, Ottawa retaliated with its own sweeping tariffs, while Mexico vowed to issue its own shortly. BMO warns that prolonged tariffs could tip Canada into a (mild) recession. At higher-than-normal volumes, the TSX closed -1.72% with all but three sectors (including health care) in the red. Financials, tech and industrials suffered the deepest losses.
Among the most active names were Suncor at -3.26% and Manulife -4.84%. Also notable were Aritzia at -6.11%, Royal Bank -3.86% and Pet Valu leaping 11.19%. WTI crude held around US$68.30, while gold added US$22 to US$2,914.
On Wall Street, the S&P finished the choppy session -1.22%, the Dow -1.55% (or shedding 670 points), and the Nasdaq -0.35%. The Nasdaq dipped into correction territory then briefly went positive for the day. Most active were Nvidia which swung from negative to close 1.69% higher, Intel -6.2%, Tesla -4.43%, Bank of America -6.34% and Best Buy -13.3%. The U.S. 10-year yield edged up to 4.24% while Bitcoin regained more than US$2,000 to US$87,500. The VIX hit the mid-20s for the session.
🛢 Suncor Energy Inc (SU-T) -3.26%
🏛 Manulife Financial (MFC-T) -4.84%
👗 Aritzia Inc. (ATZ-T) -6.11%
🏛 Royal Bank (RY-T) -3.86%
🛍 Pet Valu Holdings (PET-T) +11.19%
💾 NVIDIA Corporation (NVDA-Q) +1.69%
💾 Intel (INTC-Q) -6.2%
🚗 Tesla Inc (TSLA-Q) -4.42%
🏛 Bank of America (BAC-N) -6.34%
🛒 Best Buy Company Inc (BBY-N) -13.3%
UnlockRatingOur PAST TOP PICK with NVDA has triggered its stop at $116. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 12%, when combined with our previous guidance.
UnlockRatingWhat to do as the tariff war starts this morning? 1) Capital preservation. In recent years, easy money was made. Not now. 2) Be ready to buy names that fall and add them to your portfolio. 3) Raise cash so you can do #2. Extra 10% tariffs on China: When Trump imposed tariffs on China in his term, China devalued its currency, and those sanctions didn't work. Now, will China put sanctions on US companies? Wish list: Taking Nvidia for example, wait and watch for a floor before stepping in. If you've made huge gains, there's nothing wrong in taking some profits. Trim winners and raise some cash.
