Mixed Friday, but positive week
Markets ended a positive week with mixed results after investors baked in a likely interest rate cut by the U.S. Fed later this month to slow down gains. The S&P was essentially flat, down three points, the Dow slipped 0.5%, though the Nasdaq climbed 0.44% to a new record close. For the week, the S&P advanced 1.6%, the Nasdaq 2% and the Dow nearly 1%. Persistent rumours of a merger continued to fuel Warner Bros. Discovery and Paramount Skydance ever higher, up 16.7% and 7.62% respectively. Tesla rose 7.36%, Arista Networks plunged 8.92% and Moderna tumbled 7.4%. Bitcoin rallied more than US$2,000 to US$116,500. The U.S. 10-year yield edged up to 4.061%.
In Canada, the TSX stepped back from yesterday’s record high by 0.34%, but still advanced 0.8% for the week. Healthcare was among the few positive sectors, while discretionary and staples led them all. Winners included Baytex up 0.61%, B2Gold 0.81% and Paramount Resources 2.5%, while losers included Energy Fuels at -4.5% and Lundin Gold -4.42%. Gold itself advanced US$81 to US$3,642 to remain at lofty levels while WTI edged up 0.25% to US$62.55.
📺 Warner Bros. Discovery (WBD-Q) +16.7%
🎞 Paramount Skydance Corporation (PSKY-Q) +7.62%
🚗 Tesla Inc (TSLA-Q) +7.36%
💾 Arista Networks (ANET-N) -8.92%
💉 Moderna (MRNA-Q) -7.4%
🛢 Baytex Energy Corp (BTE-T) +0.61%
🥇 B2Gold Corp. (BTO-T) +0.81%
🛢 Paramount Resources (POU-T) +2.5%
🛢 Energy Fuels Inc. (EFR-T) -4.5%
🥇 Lundin Gold Inc. (LUG-T) -4.42%
