Software beats chips

In a reversal, software stocks rallied Monday while chip stocks sank. Workday jumped 9.01% and Thomson Reuters rallied 8.57% as several beaten-down software names rebounded sharply while chip stalwarts Nvidia tumbled 4.99% and Sandisk cratered 11.02%. By far, tech was the strongest sector on the TSX, leading eight sectors higher while energy lagged the most after the U.S. and Iran continued to pause their war. 

Tech’s performance lifted the TSX to a record close of 35,588 after gaining about 200 points for the day. Also notable were Shopify up 11.64%, WSP Global 6.97%, Telus 2.01% and Whitecap Resources -3.77%. WTI sank 8.5% to US$81.75 while silver rose 0.58% to US$58.35 and gold added US$27 to US$4,080. In New York, Expedia surged 7.09% and Autodesk 7.7%. Bitcoin advanced 0.4% to US$64,870 while the U.S. 10-year yield held at 4.649%.

💻 Workday (WDAY) +9.01%

🖨 Thomson Reuters Corp (TRI.TO) +8.57%

💾 NVIDIA Corporation (NVDA) -4.99%

💾 Sandisk Corp (SNDK) -11.02%

🛍 Shopify Inc. (SHOP.TO) +11.64%

⚙ WSP Global Inc. (WSP.TO) +6.97%

📱 Telus Corp (T.TO) +2.01%

🛢 Whitecap Resources (WCP.TO) -3.77%

✈ Expedia (EXPE) +7.09%

💾 Autodesk Inc (ADSK) +7.7%

🅱 Bitcoin (BTCUSD) (BTC-USD) +0.4%