Lacklustre stocks despite Apple and OPEC
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The trading week began with stocks flat or edging down, despite Apple hitting fresh highs and OPEC suddenly cutting oil production. The TSX returned below 20,000 after it slipped 0.46% with tech being the only sector gaining on Monday. Consumer staples and financials led the laggards.
Big movers were CNQ at -1.06%, Crescent Point Energy adding 1%, Canopy at -7.8% after falling from the S&P/TSX 60, and Teck Resources at -4.43%. Over the weekend, OPEC surprised the market by announcing a production cut in crude oil, but the price of WTI was unmoved and didn’t trade above $72.
Apple unveiled a new mixed-reality headset Monday. While shares hit new highs during the session, Apple stock actually sank 0.8% by the close. Elsewhere, Intel closed -4.65%, 3M -4.48% and Dollar General -4.38%, but Ford advanced 1.65%. The U.S. 10-year yield held at 3.6% while Bitcoin slid over 5% to hover around $25,600. The Nasdaq was flat, the S&P -0.16% and the Dow -0.55%.
🛢 Canadian Natural Rsrcs (CNQ-T) -1.06%
🛢 Crescent Point Energy Corp (CPG-T) +1%
🌿 Canopy Growth Corp. (WEED-T) -7.8%
⛏ Teck Resources Ltd. (B) (TECK.B-T) -4.43%
🍎 Apple Inc (AAPL-Q) -0.8%
💾 Intel (INTC-Q) -4.65%
💾 3M Co. (MMM-N) -4.48%
🛒 Dollar General Corp. (DG-N) -4.38%
🚘 Ford Motor (F-N) +1.65%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -5%