Materials and crypto rally, but stocks waver
Markets on both sides of the border rallied on Wednesday, but closed on weakness: the TSX up only 28 points, the S&P and Dow 0.22% and the Nasdaq 0.16%. Materials jumped after silver rose nearly 5% to US$66.30 and gold added US$177 to US$4,512. Meanwhile, WTI climbed 0.5% to US$85.40 as the U.S. and Iran remained deadlocked over the oil supply.
In New York, big news came out of healthcare after a new cancer vaccine to treat melanoma delivered positive test results. The news caused Moderna to rocket 177% and partner Merck 12.61%. In contrast, the memory names retreated: Seagate -7.87% and Western Digital -6.87%. Elsewhere, Estee Lauder jumped 16.3%. The U.S. 10-year yield dipped down to 4.645%.
In Toronto, materials roared over 7% while financials led three other sectors lower. Major movers: Manulife -1.96%, Enbridge -2.69%, Equinox Gold 10.05%, Telus 2.9%, First Majestic Silver 12.07%. Lastly, Bitcoin popped 6% to US$68,405 after languishing for most of the year.
💉 Moderna (MRNA) +177%
💊 Merck & Company (MRK) +12.61%
💾 Seagate Technology (STX) -7.87%
💾 Western Digital (WDC) -6.87%
💄 Estee Lauder (EL) +16.3%
🏛 Manulife Financial (MFC.TO) -1.96%
🛢 Enbridge (ENB.TO) -2.69%
🥇 Equinox Gold (EQX.TO) +10.05%
📱 Telus Corp (T.TO) +2.9%
🥈 First Majestic Silver (AG) +12.07%
🅱 Bitcoin (BTCUSD) (BTC-USD) +6%
