Markets up Friday, but down for the week
Volatility, sparked by the U.S. Treasury trying to tame America’s spiraling debt with treasury buybacks, pressured markets for the week, though the indices enjoyed gains on Friday. The S&P and Nasdaq both gained 0.43% for the session and the Dow nearly 1%, but the S&P slipped 1.4% for week, the Nasdaq lost more than 2% and the Dow declined 0.85%. In contrast, the TSX outperformed them by rallying 0.67% on Friday and losing only 0.3% for the week, helped by energy and materials.
TSX sectors were mixed Friday, but materials were by far the strongest area while utilities fared the worst. Silver added 1.75% to US$69.15, gold rose nearly US$100 to US$4,615, and WTI held around US$86.65 as the U.S.-Iran war grinds on. Key names: Denison Mines 10.83%, Enbridge -1.32%, B2Gold 2.42%, Bausch Health -6.27% and ERO Copper 9.21%.
In New York, Coinbase rallied 8.2% and Robinhood 13.7% after Bitcoin jumped another 6.5% to $77,430, Moderna 8.86%, Intel -2.24% and Marvell -5.57%. Lastly, the U.S. 10-year continued to rise, up to 4.732% along with expectations of a rate hike.
⛏ Denison Mines Corp (DML.TO) +10.83%
🛢 Enbridge (ENB.TO) -1.32%
🥇 B2Gold Corp. (BTO.TO) +2.42%
👨⚕️ Bausch Health Companies Inc. (BHC.TO) -6.27%
🥉 Ero Copper Corp (ERO) +9.21%
🏛 Coinbase Global (COIN) +8.2%
🏛 Robinhood (HOOD) +13.7%
🅱 Bitcoin (BTCUSD) (BTC-USD) +6.5%
💉 Moderna (MRNA) +8.86%
💾 Intel (INTC) -2.24%
🧬 Marvell Technology Group (MRVL) -5.57%
