TSX climbs higher as Trump reignites trade war
Trade talks collapsed over the weekend and Trump slapped Canada with 50% tariffs yet again. Prime Minister Carney vowed to reciprocate against U.S. goods while Ontario Premier, Doug Ford, blasted Trump as “the king of bankruptcies”. One of Trump’s targets will be Canadian auto parts which sent shares of Magna tumbling 6.56% and Linamar sliding 8.61%. Overall, however, the TSX gained 0.26% after eight TSX sectors rose on Monday, led by materials and healthcare while discretionary lagged the most. Other movers were Barrick Gold up 1.63%, B2Gold 4.2% and Bausch Health 4.65%. The price of silver slipped 0.2% to US$68.70, gold added US$45 to US$4,648 and WTI fell 2.5% to US$84.90.
In contrast, American markets endured a weak session with the Dow gaining 0.26%, but the S&P declining 0.28% and the Nasdaq sliding 0.76%. Tech, particularly memory stocks, were hit the most: Seagate -6.51%, Nvidia -2.91% and Tesla -3.83%. Meanwhile, Expedia rallied 5.44% and Dollar Tree jumped 4.01%. Bitcoin continued its comeback by adding 2% to US$78,965. The U.S. 10-year yield slipped modestly to 4.7%.
⚙ Magna Int’l. (A) (MG.TO) -6.56%
⚙ Linamar Corp (LNR.TO) -8.61%
🥇 Barrick Gold Corp (ABX) +1.63%
🥇 B2Gold Corp. (BTO.TO) +4.2%
👨⚕️ Bausch Health Companies Inc. (BHC.TO) +4.65%
💾 Seagate Technology (STX) -6.51%
💾 NVIDIA Corporation (NVDA) -2.91%
🚗 Tesla Inc (TSLA) -3.83%
✈ Expedia (EXPE) +5.44%
🛒 Dollar Tree (DLTR) +4.01%
🅱 Bitcoin (BTCUSD) (BTC-USD) +2%
