Earnings by American retailers helped lift American stocks, while the TSX managed to gain despite the ongoing decline in crude oil prices. In New York, The S&P added 0.19% and the Dow 0.71% while the Nasdaq closed -0.19%.

Noteable gainers were Walmart, jumping 5.11%, Best Buy up 4.45% and Bath & Body Works at 4.07%. Also up were Take-Two Interactive by 7.22% and Carnival at 4.48%. However, Moderna shed 5%. The U.S. 10-year yield inched up to 2.813% while Bitcoin slipped 0.5% to hover right below $24,000.

Oil continued to struggle as WTI fell 3.33% to around $86.50 as WCS fell slightly more to $67 a barrel. That didn’t stop the TSX from rising 0.45% to 20,269. Consumer staples and tech were particularly strong. Moving up were AutoCanada, racing ahead by 7.41%, First Quantum Minerals which surged 3.72% and Canadian Tire which added 3.47%. As earnings approach, the banks rallied. TD climbed 1.54% and BMO 1.26%. Unsurprisingly, oil stocks lagged. Baytex closed -4.48%, Athabasca Oil -3.85% and Tamarack Valley Energy -3.92%.

🛒 Walmart Inc (WMT-N) +5.11%
🛍 Best Buy Company Inc (BBY-N) +4.45%
🛍 Bath & Body Works (BBWI-N) +4.07%
💾 Take-Two Interactive Softwar (TTWO-Q) +7.22%
🚢 Carnival Corp. (CCL-N) +4.48%
💉 Moderna (MRNA-Q) -5%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.5%
🛍 AutoCanada Inc. (ACQ-T) +7.41%
⛏ First Quantum Minerals (FM-T) +3.72%
🛒 Canadian Tire Corporation Ltd. (A) (CTC.A-T) +3.47%
🏛 Toronto Dominion (TD-T) +1.54%
🏛 Bank of Montreal (BMO-T) +1.26%
🛢 Baytex Energy Corp (BTE-T) -4.48%
🛢 Athabasca Oil Sands Corp (ATH-T) -3.85%
🛢 Tamarack Valley Energy (TVE-T) -3.92%

The week began with surprisingly weak economic data from China and an announcement to raise their interest rates which took many by surprise. Crude oil prices immediately sank with WTI falling 3.35% below $89 and WCS sliding 4% below $70. North American stocks tumbled at first, but gradually recovered throughout the session. By the closing bell, the TSX was flat at 20,180, while the S&P closed 0.4%, the Nasdaq 0.62%, and the Dow 0.45%. Naturally, energy was weak in Toronto and New York, but materials also lagged. However, consumer staples and industrials rallied.

In Toronto, cannabis names saw big gains again as Canopy leapt 17.18% and Aurora nearly 9%. Also rallying were Home Capital Group by 9.87% and Nuvei at 6.41%.

In contrast, Cenovus closed -2.27%, Meg Energy -4.02% and Turquoise Hill Resources -10.41%. In New York, gainers included Nvidia up 2.13%, Tesla 3.08%, Ulta Beauty 2.6% and Gilead by 5.16%. Falling were Schlumberger at -3.72%, Diamondback Energy -3.94%, Freeport-McMoRan -3.43% and Warner Bros. Discovery -4.46%. The U.S. 10-year yield was 2.79% while Bitcoin slipped 1.25% to $24,000.

🌿 Canopy Growth Corp. (WEED-T) +17.18%
🌿 Aurora Cannabis (ACB-T) +9%
🏛 Home Capital Group (HCG-T) +9.87%
💾 Nuvei Corp (NVEI-T) +6.41%
🛢 Cenovus Energy (CVE-T) -2.27%
🛢 MEG Energy Corp (MEG-T) -4.02%
⛏ Turquoise Hill Resources (TRQ-T) -10.41%
💾 Nvidia Corp (NVDA-Q) +2.13%
🚗 Tesla Motors Inc (TSLA-Q) +3.08%
💄 Ulta Salon Cosmetics and Fragrance Inc. (ULTA-Q) +2.6%
🧫 Gilead Sciences Inc. (GILD-Q) +5.16%
🛢 Schlumberger Ltd. (SLB-N) -3.72%
🛢 Diamondback Energy (FANG-Q) -3.94%
⛏ Freeport McMoran Copper & Gold (FCX-N) -3.43%
📺 Warner Bros. Discovery (WBD-Q) -4.46%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.25%