Friday decline caps losing week
Markets extended Thursday strong selling to cap a week of declines. Friday saw a volatile session with American indices briefly seeing green over lunch hour before resume its sell-off. However, Wall Street closed well off session lows at the S&P at -0.57% or -0.32% for the week, the Nasdaq -1.4% and -1.54% for the week and the Dow -0.29%. Year-to-date, the Nasdaq has lost 22.4% and made a new 52-week low just below 12,000. As in previous days, energy was the only real gainer while tech led losses.
Notable movers: Under Armour plunged 24% on a brutal quarterly report, Monster Beverage surged 4.37%, Chevron added 2.66%, Pioneer Natural Resources up 5.34%, Illumina sliding 14.63% and Costco slipping 2.7%. The indices The U.S. 10-year yield surpassed 3.1% as markets continue to react to the U.S. Fed’s comments on Wednesday.
The TSX shed 0.3% on Friday and fell 0.62% for the week. WTI crude climbed 2% to $110 and WCS rose to $96.50. Winners included Enbridge up 2.17%, Martinrea soaring 14.61% after earnings, and Wildbrain jumping 7.14%. Declining were Shopify, down another 8.22%, Aritzia falling 6.7%, IGM Financial slipping 6.36% and Western Copper and Gold losing 6.12%. Meanwhile, Bitcoin lost a little ground, but held around $36,000.
👕 Under Armour (UA-N) -24%
⚡ Monster Beverage Corp (MNST-Q) +4.37%
🛢 Chevron Texaco (CVX-N) +2.66%
🛢 Pioneer Natural Resources (PXD-N) +5.34%
🧫 Illumina Inc. (ILMN-Q) -14.63%
🛒 Costco Wholesale (COST-Q) -2.7%
🛢 Enbridge (ENB-T) +2.17%
🚗 Martinrea (MRE-T) +14.61%
🎞 WildBrain +7.14%
🛍 Shopify Inc. (SHOP-T) -8.22%
👗 Aritzia Inc. (ATZ-T) -6.7%
🏛 IGM Financial Inc. (IGM-T) -6.36%
⛏ Western Copper (WRN-T) -6.12%
