Bitcoin and gold flirt with highs, stocks fade

The trading week began with Bitcoin surging 6.6% to top $67,300 while gold also approached an all-time high at $2,125 per ounce. In contrast, stocks on Bay and Wall street declined modestly. The TSX shed nine points after more sectors lagged than gained. Consumer staples and energy were the weakest, while materials rallied along with gold. That’s good news for the 20,000 expected to attend PDAC, the annual Prospectors & Developers Association of Canada convention, in Toronto this week.

The biggest gainers on Bay Street Monday were Torex Gold Resources, up 6.8%, and First Quantum Minerals at 5.8%. The most-traded names included Suncor at -1.9%, CNQ -2.01% and Baytex -3.42%. WTI slipped 1.5% to $78.80 after OPEC+ extended voluntary cuts of 2.2 million barrel per day.

The major indices also declined on Wall Street: the S&P lost five points, the Nasdaq closed – 0.41% and the Dow -0.25% to dip below 39,000. The EU slapped Apple with a 1.8-billion Euro fine for shutting out rival music streamers on its platforms. Shares sank 2.53%. Elsewhere, Tesla closed -7.11%, American Airlines -5.43%, Pfizer -2.58% and Hewlett Packard -1.19%. The U.S. 10-year yield held around 4.219%.

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +6.6%

🐂 Torex Gold Resources (TXG-T) +6.8%

⛏ First Quantum Minerals (FM-T) +5.8%

🛢 Suncor Energy Inc (SU-T) -1.9%

🛢 Canadian Natural Rsrcs (CNQ-T) -2.01%

🛢 Baytex Energy Corp (BTE-T) -3.42%

🍎 Apple Inc (AAPL-Q) -2.53%

🚗 Tesla Inc (TSLA-Q) -7.11%

🛫 American Airlines Group (AAL-Q) -5.43%

💉 Pfizer Inc (PFE-N) -2.58%

💾 Hewlett-Packard Co (HPQ-N) -1.19%