Jobs report spurs new highs
Friday saw the June U.S. unemployment rate rise to 4.1% which was lower than the expected 4.0% and fueled hopes that the Fed will cut interest rates. The data pushed the U.S. 10-year yield down to 4.27% but lifted the S&P by 0.54% and the Nasdaq 0.9% to new record highs. The Dow advanced 0.17%. For the week, the S&P rose 1.5%, the Nasdaq nearly twice as much and the Dow 0.5%.
Once more, tech led gains with Meta jumping 5.87% to its own new highs, Tesla up 2.08%, Apple 2.16% to fresh highs, though Nvidia slid 1.91% and Southwest Airlines sank 5.714%. Also, Bitcoin slipped 0.8% to US$56,500.
The TSX continued to lag as the Canadian index gained only 0.8% for the week and shed 0.83% on Friday. Materials was the only sector in the green as energy, industrials and financials suffered the heaviest losses. TD traded the most hands and shed 0.83%, TC Energy sank 1.21% and Power lost 2.4%. In energy, CNQ declined 1.55% and Baytex slipped 2.03%. Gold rose US$29 to US$2,400 while WTI declined early 1% to US$83.15.
🕵️♂️ Meta Platforms Inc / Facebook (META-Q) +5.87%
🚗 Tesla Inc (TSLA-Q) +2.08%
🍎 Apple Inc (AAPL-Q) +2.16%
💾 NVIDIA Corporation (NVDA-Q) -1.91%
🛫 Southwest Airlines (LUV-N) -5.714%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.8%
🏛 Toronto Dominion (TD-T) -0.83%
🛢 TC Energy (TRP-T) -1.21%
🛢 Power Corp (POW-T) -2.4%
🛢 Canadian Natural Rsrcs (CNQ-T) -1.55%
🛢 Baytex Energy Corp (BTE-T) -2.03%
