TSX hits high, Wall St. fades
Driven by the ongoing commodities boom, the TSX hit fresh highs Tuesday after climbing 0.31% to 19,535. Real estate and especially tech stocks led the charge. Shopify rose 3.25%, BlackBerry 3.32%, Ballard Power rallied 6% and Aurora Cannabis by 4.82%.Green energy names revived after taking a beating lately as Boralex popped 4%.
However, lumber names, which had been soaring during the North American housing boom, entered bear territory as Western Forest Products plunged 8.26% and Interfor slid 2.41%. The prices of WTI and WCS both gave back 1% in the session though remain near yearly highs. Meanwhile, the Canadian dollar continues to hover around 83 cents against the American greenback in highs not seen for years.
American stocks faded into the close as the S&P finished at -0.85%, the Dow -0.78% and the Nasdaq at -0.56%. Real estate and healthcare showed strength while all other sectors sagged. CVS Health surged 4.25% and ViacomCBS jumped 4.56% though Chevron slid 4.25% and Deere fell 3.61%. Walmart delivered good e-commerce and same-store sales to climb 2.17% as its arch e-rival, Amazon, slipped 1.17%. Home Depot boasted a sales rise in its Q1 report, but shares declined 1%. AT&T tanked 5.8% as news of its merger with Discovery continued to echo across Wall Street. Gold and the 10-year U.S. treasury yield both held firm while Bitcoin continued to decline, down 2% to trade above $43,000.
🛍 Shopify Inc. +3.25%
📱 BlackBerry +3.32%
🔋 Ballard Power Systems +6%
🌿 Aurora Cannabis +4.82%
♻ Boralex Inc. +4%
🌲 Western Forest Products Inc. -8.26%
🌲 Interfor Corp -2.41%
💊 CVS Health Corp +4.25%
📺 ViacomCBS +4.56%
🛢 Chevron Texaco -4.25%
🚜 Deere & Co. -3.61%
🛒 Walmart Inc +2.17%
📦 Amazon.com -1.17%
🛠 Home Depot -1%
📱 AT&T -5.8%
🅱 The Bitcoin Fund -2%