Choppy week ends positively
Markets in Toronto and New York rallied ed to end the week with modest gains. While the TSX was flat during the week, the S&P rose 1.2%, the Nasdaq 2% and the Dow 0.25%. On Friday, the S&P and Nasdaq advanced half a percent, while the Dow approached 1% and the TSX increased 0.26% or 94 points. However, yields continued to make 52-week highs with the U.S. 10-year rising to 5.169% as inflation worries persist. WTI retreated from US$100 this week, shedding 2% on Friday to US$92.75 after Iran wanted to talk about opening the Strait of Hormuz.
Key names in New York: Intel -3.45%, Tesla -1.54%, Microsoft 3.66%, Super Micro Computer 4.22% and ON Semiconductor 5.54%. In Toronto: BlackBerry -5.7%, TC Energy -1.29%, Air Canada -5.59%, Magna 4.66% and Torex Gold 3.87%. Discretionary and financials led seven sectors higher on Bay Street, while tech lagged the most. Gold added US$11 to US$4,286, and silver edged up 0.65% to US$64.15.
💾 Intel (INTC) -3.45%
🚗 Tesla Inc (TSLA) -1.54%
Ⓜ Microsoft Corp (MSFT) +3.66%
💾 Super Micro Computer (SMCI) +4.22%
🧬 ON Semiconductor (ON) +5.54%
📱 BlackBerry (BB.TO) -5.7%
🛢 TC Energy (TRP.TO) -1.29%
🛫 Air Canada (AC.TO) -5.59%
🚘 Magna Int’l. (A) (MG.TO) +4.66%
🥇 Torex Gold Resources (TXG.TO) +3.87%