Oil tops $92, stocks flat

Monday saw the rally in crude oil continue as WTI hit $92 after surging 1.3%. Despite oil’s performance, energy was one of the weakest sectors on the TSX along with tech and materials. All sectors except for a modest rise in telcos lagged. The TSX shed 0.63%, but stayed above 20,000.

Major movers included Athabasca Oil at -2.74%, Tilray -14.21% after a short-seller’s report, Shopify -5.44%, Ballard Power -6.12% and TC Energy -0.81% as the heaviest-traded name.

In contrast, American stocks were flat for the session, with all three major indices gaining only a few points. Higher oil prices stoked fears of more inflation and a greater likelihood of the U.S. Fed hiking rates this week. Key movers included Apple up 1.69%, Tesla -3.32%, Ford -2.14% and Moderna -9.12%. The U.S. 10-year yield held around 4.305% as Bitcoin gained nearly 1% to $26,700.

🛢 Athabasca Oil Sands Corp (ATH-T) -2.74%

🌿 Tilray Inc. (TLRY-Q) -14.21%

🛍 Shopify Inc. (SHOP-T) -5.44%

🧬 Ballard Power Systems (BLDP-T) -6.12%

🛢 TC Energy (TRP-T) -0.81%

🍎 Apple Inc (AAPL-Q) +1.69%

🚗 Tesla Inc (TSLA-Q) -3.32%

🚘 Ford Motor (F-N) -2.14%

💉 Moderna (MRNA-Q) -9.12%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1%