Both stocks and yields rise
Tuesday saw both equities and the U.S. 10-year yield climb. The S&P added 0.84%, the Nasdaq 1.28% and the Dow 1.06% as the yield inched up to 1.961%. It may be a sign that stock buyers are accepting higher yields.
Big gainers in New York included Deere up 5.05%, Amazon 2.4%, many travel names such as American Airlines at 5.58% and Royal Caribbean 5.36% and Ralph Lauren by 4.43%. Losing ground were Diamondback Energy at -4.52%, Moderna -4.15%, and Occidental Petroleum at -3.82%. Bitcoin modestly gained 0.65% to $44,400.
Despite falling crude prices, the TSX added 0.67%. Tensions are relaxing in Russia and Ukraine to ease oil prices, which fell nearly 2%. WTI dipped below $90 a barrel and WCS traded around $75.75. Strong moves in financials and materials helped to offset energy’s weakness. TD rose 1.27% and BMO 1.18%, both to new highs. TFI International announced strong numbers and soared 8% along with the airlines Air Canada, up 4.81% and Chorus Aviation adding nearly 6%. Meanwhile, Osisko Mining rallied 5% and Canada Goose climbed 4%. Losing altitude were Cenovus at -6.4%, Baytex -6.65% and Cardinal Energy -5.96%.
🦌 Deere & Co. (DE-N) +5.05%
📦 Amazon.com (AMZN-Q) +2.4%
🛫 American Airlines Group (AAL-Q) +5.58%
🚢 Royal Caribbean Cruises (RCL-N) +5.36%
🐎 Polo Ralph Lauren Corp. (RL-N) +4.43%
💎 Diamondback Energy (FANG-Q) -4.52%
💉 Moderna (MRNA-Q) -4.15%
🛢 Occidental Petroleum Corp (OXY-N) -3.82%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +0.65%
🏛 Toronto Dominion (TD-T) +1.27%
🏛 Bank of Montreal (BMO-T) +1.18%
🚚 TFI International Inc (TFII-T) +8%
🛫 Air Canada (AC-T) +4.81%
✈ Chorus Aviation Inc (CHR-T) +6%
⛏ Osisko Mining (OSK-T) +5%
🧣 Canada Goose Holdings (GOOS-T) +4%
🛢 Cenovus Energy (CVE-T) -6.4%
🛢 Baytex Energy Corp (BTE-T) -6.65%
🪔 Cardinal Energy Ltd (CJ-T) -5.96%