AI sparks tech rally

Allan Tong Posted On December 7, 2023

Thursday saw Alphabet unveil its long-awaited AI model, Gemini, which sent shares (of both classes) surging well over 5%. It also pushed the Nasdaq 1.37% higher, while the S&P added 0.8% and the Dow 0.18%.

The AI momentum lifted Meta by 2.88% and AMD by 9.89%. Elsewhere, Hess closed -2.97% and AutoZone -2.87%. The U.S. 10-year yield remained around 4.148% though Bitcoin gave back 1% to $43,300.

In contrast, the TSX was flat, though most sectors were higher. Tech and utilities gained the most while energy once again lagged. Major movers were CNQ at -2.14%, Bombardier up 6.04%, TD at -1.92%, North West Co. adding 5.77% an Dye & Durham 4.63%. WTI edged up by -0.4% to just under $70 a barrel.

🧮 Alphabet Inc (GOOG-Q) +5%

🕵️‍♂️ Meta Platforms Inc / Facebook (META-Q) +2.88%

💾 Advanced Micro Devices (AMD-Q) +9.89%

🛢 Hess Corp. (HES-N) -2.97%

🚘 Autozone Inc. (AZO-N) -2.87%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1%

🛢 Canadian Natural Rsrcs (CNQ-T) -2.14%

🚂 Bombardier Inc (B) (BBD.B-T) +6.04%

🏛 Toronto Dominion (TD-T) -1.92%

🛍 North West Company (NWC-T) +5.77%

💾 Dye & Durham (DND-T) +4.63%