Nasdaq rises, but tariffs pressure stocks

It was a very mixed Thursday as Trump’s latest tariffs pressured markets while earnings helped and hindered some names. Trump slapped new 15% tariffs on traditional trading partners, including the EU, South Korea and Japan. Even Switzerland was recently hit with a 39% duty. Add to that the weekly U.S. jobless claims coming in at its highest level in a month. The Dow sank 0.51% and the S&P surrendered five points, though the Nasdaq rose 0.35% to 21,242, a record close.

Meanwhile, earnings continued to roll in. Eli Lilly tumbled 14.14% while Fortinet crashed 22.03%. Airbnb slid 8.02%, though Apple advanced another 3.18% and AMD jumped 5.69%. The U.S. 10-year yield held around 4.242% while Bitcoin increased 2% to US$117,395.

The TSX hit an intraday all-time high early on, but sank 0.65% by the close. Only three sectors, including materials, enjoyed gains. Discretionary and tech saw the biggest losses. Major movers: Lundin Mining up 10.52%, Manulife -3.86%, CNQ -3.04%, Fortuna -12.04% and Canadian Tire -10.04%. Gold advanced US$30 to US$3,399 while WTI slipped 1% to US$63.70.

💊 Eli Lilly & Co. (LLY-N) -14.14%

💾 Fortinet Inc (FTNT-Q) -22.03%

🧳 Airbnb (ABNB-Q) -8.02%

🍎 Apple Inc (AAPL-Q) +3.18%

💾 Advanced Micro Devices (AMD-Q) +5.69%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2%

⛏ Lundin Mining Corp. (LUN-T) +10.52%

🏛 Manulife Financial (MFC-T) -3.86%

🛢 Canadian Natural Rsrcs (CNQ-T) -3.04%

🥈 Fortuna Silver Mines (FVI-T) -12.04%

🛍 Canadian Tire Corporation Ltd (CTC-T) -10.04%