Tech leads market rebound
Monday saw markets strongly bounce back after Friday’s steep sell-off. Advancing were the S&P by 2.65%, the Nasdaq at 3.45%, and the Dow up 1.86% past 30,100.
Megacap tech, which has been the worst-performing sector this year, led gains as Apple rallied 2.91% as the most influential stock, Amazon popping 6.45%, Tesla 7.01% and Meta jumping 5.74%. Not faring so well was communications giant, Fox, which saw both classes of shares plunge 8.09-9.41%. Bitcoin joined in the party by rising 1.35% to $19,500, itself recovering partly from its ongoing slump. Meanwhile, the U.S. 10-year yield held at 4% with little movement.
Energy was the only sector to lag on the TSX while industrials, utilities and real estate enjoyed outsized gains. While WTI was flat at $85.50 by the close, WCS retreated 1% to $55.50. The TSX gained 1.58%. Major movers were Power up 2.47%, Enbridge at 1.8%, Denison Mines soaring 10.53%, Canopy adding 7.08% and tech names like Nuvei rallying nearly 7%.
🍎 Apple (AAPL-Q) +2.91%
📦 Amazon.com (AMZN-Q) +6.45%
🚗 Tesla Motors Inc (TSLA-Q) +7.01%
🕵️♂️ Meta Platforms Inc / Facebook (META-Q) +5.74%
🎞 Twenty-First Century Fox Inc (FOX-Q) -8.09%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1.35%
🏛 Power Corp (POW-T) +2.47%
🛢 Enbridge (ENB-T) +1.8%
⛏ Denison Mines Corp (DML-T) +10.53%
🌿 Canopy Growth Corp. (WEED-T) +7.08%
💾 Nuvei Corp (NVEI-T) +7%
