Flat markets, rising yields
On Tuesday, the U.S. 10-year climbed to 4.2% while markets in New York and Toronto were flat in the middle of earnings season. The S&P shed two points, the Dow lost six while the Nasdaq crept up by 0.18%.
Major movers on Wall Street included Super Micro Computer at -3.45%, GE -8.77%, Walgreens -6.56%, Norfolk Southern 4.94%, and General Motors 9.81% after vaulting over profit estimates. Even Bitcoin was flat, down only US$250 to US$67,500.
In Toronto, the TSX gave back 17 points as sectors were mixed. Healthcare and materials rose while consumer discretionary and tech faded. Major movers: Tilray 7.27%, Air Canada 4.59%, the Bank of Nova Scotia -0.68%, Goeasy -9.37% and BRP -7.6%. Gold hit new highs at US$2,747 an ounce, while WTI crude rallied by 2.15% to US$72.10. The Bank of Canada will announce its next interest rate move tomorrow, which Bay Street widely expects to fall by 50 basis points.
💾 Super Micro Computer (SMCI-Q) -3.45%
🔌 General Electric (GE-N) -8.77%
💊 Walgreen Boots Alliance (WBA-Q) -6.56%
♻ Norfolk Southern (NSC-N) +4.94%
🚘 General Motors Corporation (GM-N) +9.81%
🌿 Tilray Inc. (TLRY-Q) +7.27%
🛫 Air Canada (AC-T) +4.59%
🏛 Bank of Nova Scotia (BNS-T) -0.68%
🏛 goeasy (GSY-T) -9.37%
🛍 BRP INC. (DOO-T) -7.6%