Markets rebound ahead of tech earnings

It’s a major week for markets with many of the Magnificent 7 megatech stocks reporting. Wall Street was in an optimistic mood , lifting the S&P past 5,000 after climbing 0.87%, the Nasdaq by 1.1% and the Dow by 0.67%.

Notable names included Ford which soared 6.1%, United Airlines 4.98%, and Nvidia 4.35%. However, Tesla closed -3.4% after announcing price cuts to its EVs, and Verizon finished -4.67% after it reported. The U.S. 10-year yield held at 4.61%, though Bitcoin regained 2.6% to US$66,600.

Nearly all sectors rose on Bay Street. Materials was the biggest laggard while staples, real estate and discretionary ran the furthest. Celestica jumped 5.18%, Royal Bank 1.01%, Kelt Exploration 4.94% and Restaurant Brands International 2.99%. In contrast Kinross Gold ended at -4.83%. WTI dipped slightly to close below US$83 a barrel as did gold which hovered around US$2,330 an ounce.

🚘 Ford Motor (F-N) +6.1%

🛫 United Airlines Holdings (UAL-Q) +4.98%

💾 NVIDIA Corporation (NVDA-Q) +4.35%

🚗 Tesla Inc (TSLA-Q) -3.4%

📱 Verizon Communications (VZ-N) -4.67%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.6%

🧬 Celestica Inc (CLS-T) +5.18%

🏛 Royal Bank (RY-T) +1.01%

🛢 Kelt Exploration (KEL-T) +4.94%

🍱 Restaurant Brands International (QSR-T) +2.99%

🥇 Kinross Gold (K-T) -4.83%