Dow up, tech down
On the whole, the week was positive for stocks as the Dow made a record high Friday, rising 0.21% to 35,670. However, the S&P closed -0.11% and the Nasdaq -0.82%. Tech and industrials lagged, while energy and financials roared.
Notable movers on Wall Street included Honeywell which slid 3.24%, American Airlines down 3.72%, Occidental gaining 3.45%, American Express up 5.5% and Intel which plunged 11.68% due to supply shortages. However, that was nothing compared to Snap which tanked by 26.66% after sharply missing revenue expectations that the CEO blamed on Apple’s recent privacy changes that stops advertisers from tracking their ad campaigns on iPhones. This concern spread to Facebook which lost 5%. As tech languished, the U.S. 10-year yield held steady around 1.64% and Bitcoin shed 3.45% to trade below $61,000. Despite Friday’s weakness, American stocks were up for the week with the Nasdaq gaining 1.29%.
The same was said of the TSX which made several record highs this week, though closed flat Friday, up three points. All the sectors actually rose, except tech. Gaining were Bombardier by 4.35%, AutoCanada at 4.81%, Meg Energy up 3.74% and Baytex up 2.72%. Heading down were Corus by nearly 5%, Hexo at -6.22% and BlackBerry which slid 3.15%. The Canadian dollar was flat just below 81 cents against the USD. Finally cruise WTI rose 1.7% to nearly $84 per barrel and WCS over 1% to $69.
🛫 Honeywell International (HON-N) -3.24%
🛫 American Airlines Group (AAL-Q) -3.72%
🛢 Occidental Petroleum Corp (OXY-N) +3.45%
🏛 American Express (AXP-N) +5.5.%
💾 Intel (INTC-Q) -11.68%
🤳 Snap Inc. (SNAP-N) -26.66%
🕵️♂️ Facebook (FB-Q) -5%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -3.45%
🚂 Bombardier Inc (B) (BBD.B-T) +4.35%
🚗 AutoCanada Inc. (ACQ-T) +4.81%
🛢 MEG Energy Corp (MEG-T) +3.74%
🛢 Baytex Energy Corp (BTE-T) +2.72%
📺 Corus Entertainment (B) (CJR.B-T) -5%
🌿 Hexo Corp (HEXO-T) -6.22%
📱 BlackBerry (BB-T) -3.15%