Court rejects Trump tariffs, TSX surges
On Friday, the U.S. Supreme Court struck down Trump’s tariffs and ordered tariffs that were collected to be repaid to companies. Trump responded by slapping 10% tariffs worldwide, but the street isn’t sure this order will pass. Meanwhile, safe haven gold extended gains by nearly US$100 to US$5,100, silver popped 7.25% to US$84.15 and WTI held at US$66.40.
The action in materials as well as tech pushed the TSX over 200 points or 0.67% higher to a record 33,818. The TSX advanced nearly 4.2% for the week. Staples and healthcare were among the five weak sectors, Major movers included Fortuna Silver up 12.17%, First Majestic Silver 11.01%, Lundin Mining 10.91%, Cenovus -2.53% and Superior Plus -18.39%.
In New York, the S&P gained 0.69% on Friday, the Nasdaq 0.9% and the Dow 0.47%. For the week, the S&P and Nasdaq climbed around 1.2% while the Dow edged up by 0.35%. Key names: Corning up 7.2%, Alphabet 4.01%, Crowdstrike -7.95%, Oracle -5.4% and Sandisk 4.65%. The U.S. 10-year held at 4.085% while Bitcoin rose US$800 to US$67,700.
⛏ Fortuna Silver Mines (FVI-T) +12.17%
🥈 First Majestic Silver (AG-N) +11.01%
⛏ Lundin Mining Corp. (LUN-T) +10.91%
🛢 Cenovus Energy (CVE-T) -2.53%
🚚 Superior Plus Corp (SPB-T) -18.39%
🧬 Corning Inc (GLW-N) +7.2%
🧮 Alphabet Inc (GOOG-Q) +4.01%
💾 CrowdStrike Holdings (CRWD-Q) -7.95%
💻 Oracle (ORCL-N) -5.4%
🧬 Sandisk Corp (SNDK-Q) +4.65%
