Market partially give back gains
The week started with the major indices returning part of Friday’s outsized gains, triggered by hopes that the U.S. Fed will cut interest rates in September. The S&P closed -0.43%, the Nasdaq -0.22%, the Dow -0.77% and the TSX -0.58%. The U.S. 10-year yield inched up to 4.281% while Bitcoin sank over 2% to US$110,400.
On Bay Street, only energy and two other sectors gained, while healthcare and industrials led the sell-off. Major movers included Cenovus up 2.07%, Bird Construction -2.78%, GFL Environmental -2.76%, CCL Industries -2.07% and Bausch Health -2.5%. On Wall Street, Deckers popped 3.6%, Wynn Resorts 3.54%, CSX -5.12% and Dexcom -7.66% Keurig Dr. Pepper plunged 11.48% after announcing it would buy JDE Peet’s. In commodities, gold slipped US$7 to US$3,364 while WTI rallied 1.75% to US$64.75.
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2%
🛢 Cenovus Energy (CVE-T) +2.07%
🧱 Bird Construction Income Fund (BDT-T) -2.78%
♻ GFL Environmental Inc. (GFL-T) -2.76%
📦 CCL Industries (B) (CCL.B-T) -2.07%
👨⚕️ Bausch Health Companies Inc. (BHC-T) -2.05%
🛍 Deckers Outdoor Corp. (DECK-N) +3.6%
♠ Wynn Resorts Ltd. (WYNN-Q) +3.54%
🚚 CSX Corp (CSX-Q) -5.12%
👨⚕️ Dexcom (DXCM-Q) -7.66%
🧃 Keurig Dr Pepper (KDP-Q) -11.48%
