S&P hits record, TSX flat

Allan Tong Posted On February 7, 2024

Wall Street rallied Wednesday while the TSX was flat, reversing roles from the day before. The S&P climbed 0.82% to make a new record high just shy of 5,000 while the Nasdaq added 0.95%, and the Dow added 0.4%. Despite this performance by stocks, the U.S. 10-year yield edged up to 4.115%.

Earnings continued to be in the spotlight. SNAP closed -34.61% and Alibaba -5.87%. Ford jumped 6.05%, though VF Corp. finished the session -9.68% and Paramount Global -8.15%. Meanwhile, Bitcoin rallied 3% to over $44,300.

The TSX added only 11 points to remain below 21,000. Sectors were mixed with tech and industrials leading and utilities and materials lagging. Winners included Birchcliffe Energy up 9.58%, Shopify at 4.29% and Nuvei 4.11%. Losers were TD at -1.1% and Finning International -9.19%. WTI advanced 1% to $74 a barrel.

💾 Snap Inc. (SNAP-N) -34.61%

🛍 Alibaba Group Holding (BABA-N) -5.87%

🚘 Ford Motor (F-N) +6.05%

🛍 VF Corporation (VFC-N) -9.68%

🎞 Paramount Global (PARA-Q) -8.15%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +3%

🛢 Birchcliff Energy Ltd. (BIR-T) +9.58%

🛍 Shopify Inc. (SHOP-T) +4.29%

💾 Nuvei Corp (NVEI-T) +4.11%

🏛 Toronto Dominion (TD-T) -1.1%

🚚 Finning Int (FTT-T) -9.19%