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The week ended with the Mag 7 (dubbed the Lag 7 by some) and AI stocks losing ground, while software enjoyed some gains on Friday. ON Semiconductor plunged 23.66% while Western Digital cratered 13.17% during the session. In contrast, Microsoft leapt 5.71% and Apple rebounded 3.14%. Beyond tech, Moderna rallied 12.59%. The Nasdaq slipped 0.18% on Friday but fell 4.6% during the week. In contrast, the S&P and Dow were flat for the session, while the former sank 2% over the week and the latter climbed 0.6%. Bitcoin added 0.5% to US$59,670. The U.S. 10-year yield held at 4.372%.

The TSX was flat for the week, but advanced 0.37% or over 125 points on Friday. Sectors were mixed, but tech and real estate helped to outperform weakness in healthcare and other areas. Major movers on Bay Street: BlackBerry 10.33%, Discovery Silver 8.81%, Aya Gold & Silver 8.61%, Bausch Health -9.61% and Celestica -6.57%. Silver rose 1.25% to US$58.45, gold climbed 1% to US$4,067 and WTI slid 3.5% to US$69.40.

🧬 ON Semiconductor (ON) -23.66%

💾 Western Digital (WDC) -13.17%

Ⓜ Microsoft Corp (MSFT) +5.71%

🍎 Apple Inc (AAPL) +3.14%

💉 Moderna (MRNA) +12.59%

🅱 Bitcoin (BTCUSD) (BTC-USD) +0.5%

📱 BlackBerry (BB.TO) +10.33%

🥈 Discovery Silver (DSV.TO) +8.81%

⛏ Aya Gold & Silver (AYA.TO) +8.61%

👨‍⚕️ Bausch Health Companies Inc (BHC) -9.61%

🧬 Celestica Inc (CLS.TO) -6.57%

Micron reported a strong quarter and raised guidance, sending its shares 15.74% higher on Thursday. However, it wasn’t enough to lift the tech-heavy Nasdaq, which slipped 0.46% nor the S&P which was flat, though the Dow managed to climb 0.14%. The key inflation stat, PCE (personal consumption expenditures) rose to 4.1% in May as expected, due to higher oil costs from the US-Israel-Iran war. That war is undergoing a shaky peace negotiation now, which explains why WTI rose 2.22% to US$71.90. Other key names: Sandisk 21.97%, Amazon -3.1%, Apple -6.12% and Microsoft -3.46%. The last two names slumped after announcing price increases to their products. The U.S. 10-year edged down to 4.392%.

The TSX gained 0.33% as materials, healthcare and industrials led eight sectors higher. Tech fared the worst, despite BlackBerry soaring 19.25%. Elsewhere, Jamieson Wellness rallied 10.41%, while B2Gold rose 2.72%, Telus slipped 1.69% and MDA Space declined 4.64%. Gold added US$30 to $4,029 while silver advanced 0.87% to US$57.80. 

💾 Micron Technology (MU) +15.74%

💾 Sandisk Corp (SNDK) +21.97%

📦 Amazon.com, Inc. (AMZN) -3.1%

🍎 Apple Inc (AAPL) -6.12%

Ⓜ Microsoft Corp (MSFT) -3.46%

📱 BlackBerry (BB.TO) +19.25%

💊 Jamieson Wellness (JWEL.TO) +10.41%

🥇 B2Gold Corp. (BTO.TO) +2.72%

📱 Telus Corp (T.TO) -1.69%

🧬 MDA Space Ltd. (MDA.TO) -4.64%

Materials and oil continued to fall on Wednesday after WTI sank 4.4% to US$69.99, gold lost 2.86% to US$3,999 and silver tumbled 6.75% to US$57.50. Energy was the worst performer on the TSX as tech and staples fell short in propping up the Canadian index. The TSX shed nearly 30 points or 0.86%. Key movers: Shopify up 6.12%, Boyd Group 5.81%, CNQ -3.69%, Whitecap Resources -4.59% and Suncor -3.4%.

In New York, the S&P closed -0.1%, the Nasdaq -0.43% and the Dow up 0.36%. Tech continued to lose ground with Microsoft, for example, slipping 2.27%. Meanwhile, Charles River Labs rallied 8.31% while Apollo Global Management finished -6.13%, Blackstone -5.9% and Robinhood -5.87% The U.S. 10-year yield fell to 4.404%. Bitcoin slid 2.7% to US$60,725.

🛍 Shopify Inc. (SHOP.TO) +6.12%

🚗 Boyd Group Services Inc. (BYD.TO) +5.81%

🛢 Canadian Natural Rsrcs (CNQ.TO) -3.69%

🛢 Whitecap Resources (WCP.TO) -4.59%

🛢 Suncor Energy Inc (SU.TO) -3.4%

Ⓜ Microsoft Corp (MSFT) -2.27%

🧫 Charles River Labs Intl (CRL) +8.31%

🏛 Apollo Global Management (APO) -6.13%

🏛 Blackstone Group LP (BX) -5.9%

🏛 Robinhood (HOOD) -5.87%

🅱 Bitcoin (BTCUSD) (BTC-USD) -2.7%