Trade deal optimism lift markets to highs
Fresh off an interest rate cut in Canada and the U.S., markets reached yet another record close to cap off a winning week, fueled by apparent progress in China-U.S. trade talks. The TSX rallied 1.07% to a new high of 29,768 and gained 1.65% for the week. For Friday, the S&P rose 0.49%, the Nasdaq 0.72% and the Dow 0.37%, all to new record closes. For the week, the S&P advanced 1.2%, the Nasdaq 2.2% and the Dow 1.05%.
Nine Canadian sectors were in the green, led by outsized gains in materials as well as staples. Energy lost ground. Major movers were Barrick Gold jumping 9.71%, Endeavour Silver 9.25%, First Majestic Silver 7.08%, Energy Fuels 6.23% and CNQ -2.92%. On Wall Street, Apple rallied 3.2% on optimism over its latest iPhone, Newmont popped 4.34%, Paramount Skydance rallied 5.85% and Warner Bros. Discovery 3.37%, while Intel gave back 3.24%.
In commodities, gold increased more than 1% to US$3,683 while WTI slid 1.35% to US$62.70. Bitcoin lost ground by about 2% to US$115,285. The U.S. 10-year yield rose to 4.139%.
🥇 Barrick Gold Corp (ABX-N) +9.71%
⛏ Endeavour Mining Capital (EDV-T) +9.25%
🥈 First Majestic Silver (AG-N) +7.08%
⛏ Energy Fuels Inc. (EFR-T) +6.23%
🛢 Canadian Natural Rsrcs (CNQ-T) -2.92%
🍎 Apple Inc (AAPL-Q) +3.2%
🥇 Newmont Goldcorp (NGT-T) +4.34%
🎞 Paramount Skydance Corporation (PSKY-Q) +5.85%
📺 Warner Bros. Discovery (WBD-Q) +3.37%
💾 Intel (INTC-Q) -3.24%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2%
