Stocks, oil climb as U.S. blockades Strait of Hormuz

Stocks and oil rose Monday, despite a new U.S. blockade of the Strait of Hormuz, peace talks between the U.S. and Iran collapsed over the weekend. The S&P climbed 1.02%, the Nasdaq 1.23%, the Dow 0.63% and the TSX 0.51%. WTI traded above $100 earlier in the day, but by the close fell below US$98, adding 1.4%. Meanwhile, gold slipped US$6 to US$4,743 and silver dipped 0.5% to US$75.35.

On Wall Street, Oracle jumped 12.69%, Sandisk 11.83%, Intel 4.49%, while AT&T fell 3.21% and PG&E tumbled 4.31%. In Toronto, telcos, financials and especially tech led eight sectors higher while staples lagged the most. Baytex rallied 3.15%, Saputo sank 9.19% after a downgrade, Lithium Americas popped 7.28%, Secure Waste Infrastructure gained 5.06% after announcing that GFL Environmental was buying it (GFL fell 10.05%). 

The U.S. 10-year yield dipped to 4.293% while Bitcoin rose 2.5% to US$73,135.

💻 Oracle (ORCL-N) +12.69%

💾 Sandisk Corp (SNDK-Q) +11.83%

💾 Intel (INTC-Q) +4.49%

📱 AT&T (T-N) -3.21%

🧼 Procter & Gamble (PG-N) -4.31%

🛢 Baytex Energy Corp (BTE-T) +3.15%

🍱 Saputo Inc. (SAP-T) -9.19%

⛓ Lithium Americas Corp (LAC-T) +7.28%

♻ SECURE Waste Infrastructure Corp. (SES-T) +5.06%

♻ GFL Environmental Inc. (GFL-T) -10.05%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.05%