Oil slides, stocks fade
After seeing green at the start of Tuesday’s session, the major indices tumbled into the red and stayed there until the close. The bears continued to rule as the S&P closed -1.1%, the Nasdaq -1.12%, and the Dow -0.96%. It wasn’t only tech, but there was red across screens as 28 of the Dow 30 stocks closed negative while the Nasdaq fell below 12,000.
Major movers: Apple -1.52%, Intel -2.06%, Freeport-McMoRan -5.52%, Mosaic -4.97% though Best Buy advanced 1.61% after their quarter as a rare bright spot. Even Bitcoin lost 1% to slip below $20,000. Oil stocks got crushed, like Halliburton down 4.86%. The 10-year yield slipped to 3.1%.
In fact, WTI slid 5% to $92 which helped pressure the TSX by 1.63%. All sectors were negative. Major movers: Denison Mines up 3.41%, Cameco 2.59%, Bausch Health 2.13%, Suncor -4.77%, Crescent Point Energy -5.63% and Vermilion Energy -7.12%. It was the third-straight day of losses as hawkish sentiment from the U.S. Fed continues to worry investors.
🍎 Apple (AAPL-Q) -1.52%
💾 Intel (INTC-Q) -2.06%
⛏ Freeport McMoran Copper & Gold (FCX-N) -5.52%
🌿 Mosaic Company (The) (MOS-N) -4.97%
🛍 Best Buy Company Inc (BBY-N) +1.61%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1%
🛢 Halliburton Co (HAL-N) -4.86%
⛏ Denison Mines Corp (DML-T) +3.41%
⛏ Cameco Corporation (CCO-T) +2.59%
👨⚕️ Bausch Health Companies Inc. (BHC-T) +2.13%
🛢 Suncor Energy Inc (SU-T) -4.77%
🛢 Crescent Point Energy Corp (CPG-T) -5.63%
🛢 Vermilion Energy Inc (VET-T) -7.12%
