Stocks rally to end rocky week
The TSX advanced 1% on Friday and closed the week a few points higher while the American indices rallied 1.3% to offset losses for the week. The Nasdaq shed 6% over the past five sessions while the S&P slid nearly 3%. In Toronto, most of the sectors were positive Friday, led by materials and financials, while info tech suffered losses.
Gold names shone: Yamana and Equinox soared 18%, Barrick rallied 6.4% and Hudbay Minerals jumped 16.18%. On the flipside, Baytex closed -2.55% and Parex Resources -7.%. WTI crude surged 5% to $92.50.
On Wall Street, materials were especially strong. Major movers here included Nike, jumping nearly 6%, and Starbucks delivering a 8.48% gain. However, Warner Bros. Discovery sank 12.87%, Crowdstrike slid 9.87% and Tesla sank 3.84% as its controversial CEO, Elon Musk, now faces a class-action lawsuit by fired employees of his new acquisition, Twitter. Elsewhere, the U.S. 10-year climbed to 4.175% and Bitcoin rose 4% to nearly $21,000.
🥇 Yamana Gold Inc. (YRI-T) +18%
🥇 Equinox Gold (EQX-T) +18%
🥇 Barrick Gold (ABX-T) +6.4%
⛏ Hudbay Minerals Inc. (HBM-T) +16.18%
🛢 Baytex Energy Corp (BTE-T) -2.55%
🛢 Parex Resources Inc. (PXT-T) -7%
👟 Nike Inc (NKE-N) +6%
☕ Starbucks (SBUX-Q) +8.48%
📺 Warner Bros. Discovery (WBD-Q) -12.87%
💾 CrowdStrike Holdings (CRWD-Q) -9.87%
🚗 Tesla Motors Inc (TSLA-Q) -3.84%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +4%
