Data lifts markets to end August

Markets were flat or lagging for much of Friday until they surged in the dying minutes. Rewind to the morning when Canadian GDP in Q2 came in at 2.1%, as expected, while the U.S. CPE (personal consumption expenditure) number for July was a modest 2.5%, enhancing sentiment that the central bank will cut interest rates in September. By the end of Friday, the TSX had edged up by 0.11% and 0.25% for the week, and remaining at all-time highs.

Key names included Capstone Copper up 4.31%, Hudbay Minerals 4.17%, and Laurentian Bank -4.27% to cap off bank earnings week. Most-traded were Northland Power -2.55% and CNQ at -2.03%. Energy lagged as WTI sank 3% to US$73.65, while gold gave back US$19 to US$2,502.

The S&P and Nasdaq rose around 1% Friday, though the S&P advanced 0.25% for the week and the Nasdaq about 1%. Meanwhile, the Dow reached yet another high after climbing 0.51% as the rally continues to broaden beyond tech. The Dow rose nearly 1% over the week. Major movers: Nvidia up 1.44% despite flatness for part of the session, GE 4.87%, Intel popping 9.51%, Tesla 3.65% and Ulta Beauty -3.9%. Bitcoin faded by 0.8% to US$58,850 as the U.S. 10-year yield climbed to 3.907%.

⛏ Capstone Copper Corp (CS-T) +4.31%

⛏ Hudbay Minerals (HBM-T) +4.17%

🏛 Laurentian Bank (LB-T) -4.27%

💡 Northland Power Inc (NPI-T) -2.55%

🛢 Canadian Natural Rsrcs (CNQ-T) -2.03%

💾 NVIDIA Corporation (NVDA-Q) +1.44%

🧬 General Electric (GE-N) +4.87%

💾 Intel (INTC-Q) +9.51%

🚗 Tesla Inc (TSLA-Q) +3.65%

💄 Ulta Salon Cosmetics and Fragrance Inc. (ULTA-Q) -3.9%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.8%