Stocks and Bitcoin fade

Allan Tong Posted On January 7, 2025

Stocks faded into Tuesday’s close on both sides of the border. In New York, the S&P ended the session -1.11%, the Nasdaq -1.89% or 375 points, and the Dow -0.42%.

Major movers were recent winners taking serious losses: Nvidia -6.22%, Palantir -7.81%, Tesla -4.06%, and Super Micro Computer -5.68%, though Moderna jumped 11.65%. The U.S. 10-year yield inched up to 4.691%, but Bitcoin slid 4.7% to US$96,900.

Bay Street had a relatively better session, with the TSX losing 0.28% or 70 points. Sectors were mixed with energy and telcos rallying the most, but tech sinking the deepest. Most influential were TD, up 0.99%, CNQ 1.69% and Suncor 3.95%. Notable laggards: Shopify -6.3% and Cameco -5.71%. Gold climbed US$12 to US$2,650, WTI rose about 1% to US$74.25, while the Canadian dollar held at 70 cents against the USD.

💾 NVIDIA Corporation (NVDA-Q) -6.22%

💾 Palantir Technologies (PLTR-N) -7.81%

🚗 Tesla Inc (TSLA-Q) -4.06%

💾 Super Micro Computer (SMCI-Q) -5.68%

💉 Moderna (MRNA-Q) +11.65%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -4.7%

🏛 Toronto Dominion (TD-T) +0.99%

🛢 Canadian Natural Rsrcs (CNQ-T) +1.69%

🛢 Suncor Energy Inc (SU-T) +3.95%

🛍 Shopify Inc. (SHOP-T) -6.35

⛏ Cameco Corporation (CCO-T) -5.71%