Modest Monday
After a negative start, stocks on Monday climbed into the positive and closed moderately up by roughly 0.7% on Wall Street and 0.91% in Toronto. The dramatic falls of last week were missing as investors on both sides of the border wait for Wednesday’s interest rate hike by the U.S. Fed with the consensus sitting at 75 basis points, though a few wager a full 100 points.
In New York, major movers included Apple up 2.51%, Tesla 1.89%, Mosaic 5.11%, Moderna -7.14% and Domino’s Pizza delivering -2.91%. While Bitcoin was flat around $19,400, the U.S. 10-year yield jumped to 3.49%.
Nine of the 11 S&P sectors were positive. The same could be said on Bay Street where materials led a broad increase, leaving only staples and telcos in the red. Manulife added 1.58%, Suncor 1.42%, Kinross leap 10.83%, Peyto Exploration advanced nearly 5% while Corus closed -2.64%, and both Cronos and Lightspeed -2.18%. The Canadian dollar sank to 75 cents against the USD for the first time since 2020. lastly, WTI crude inched up to $85.50 while WCS remained flat at $64.
🍎 Apple (AAPL-Q) +2.51%
🚗 Tesla Motors Inc (TSLA-Q) +1.89%
🧪 Mosaic Company (The) (MOS-N) +5.11%
💉 Moderna (MRNA-Q) -7.14%
🍕 Domino’s Pizza, Inc. (DPZ-N) -2.91%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +3.49%
🏛 Manulife Financial (MFC-T) +1.58%
🛢 Suncor Energy Inc (SU-T) +1.42%
🥇 Kinross Gold (K-T) +10.83%
🛢 Peyto Exploration & Develop. (PEY-T) +5%
📺 Corus Entertainment (B) (CJR.B-T) -2.64%
🌿 Cronos Group Inc (CRON-T) -2.18%
💾 Lightspeed Commerce Inc (LSPD-T) -2.18%
