AI-mania pushes stocks to new highs
The appetite for any stock related to AI and data centres continued to rage on Tuesday, sending the New York and even Toronto indices to record closes. The S&P climbed 0.13% higher, the Nasdaq 0.03%, the Dow 0.45% and the TX 1.25% or 434 points to 35,109. Nvidia CEO Jensen Huang declared that Marvell will be the next trillion-dollar company. Marvell‘s shares then rocketed 32.52%. Also soaring was HP after a blow-out quarter, up 19.47%. Coherent jumped 17.63%, though Trade Desk tumbled 9.13%. The U.S. 10-year yield slipped modestly to 4.453%, while Bitcoin fell over 6% to US$66,910.
The TSX rallied to record highs on the strength of energy, materials and financials. Healthcare was among only three sectors to lose ground. Notable names included Celestica up 10.98%, CNQ 2.8%, BlackBerry 5.88%, Energy Fuels 10.89% and Discovery Silver 10.78%. Silver edged up 0.45% to US$75.05 while gold added US$5 to US$4,489. WTI ground 1.55% higher to US$93.60.
🧬 Marvell Technology Group (MRVL) +32.52%
💾 Hewlett-Packard Co (HPQ) +19.47%
🧬 Coherent Corp. (COHR) +17.63%
💾 Trade Desk (TTD) -9.13%
🅱 Bitcoin (BTCUSD) (BTC-USD) -6%
🧬 Celestica Inc. (CLS) +10.98%
🛢 Canadian Natural Rsrcs (CNQ.TO) +2.8%
📱 BlackBerry (BB.TO) +5.88%
🛢 Energy Fuels Inc. (EFR.TO) +10.89%
🥈 Discovery Silver (DSV.TO) +10.78%
