Lacklustre stocks despite Apple and OPEC
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%