Markets end a rocky week mixed
Though it was a shortened trading week, markets saw no shortage of drama as tech sold off Tuesday and tried to bounce back after. The Friday session was generally positive, but still mixed with the Nasdaq closing -0.6%, or 10% below its all-time high, and suffering its worst week since March.
The other major American indices were up but only modestly, the Dow at 0.48% and the S&P at 0.05%. Transports continued to show strength with FedEx rallying 3.72%. Caterpillar enjoyed a 3.97% gain and Nike surged 3.21%. However, AMD slid 3.34%, Beyond Meat sold off 5.7% and Salesforce declined 4.7%. The biggest surprise was Peloton. Despite posting a terrific Q4, beating earnings and announcing its first-ever profit, the Peloton home-cycling stock fell 4.23%.
In Toronto, the TSX closed respectably 0.24% higher, led by industrials and consumer staples, though tech lagged. Mining and gold stocks glittered though. One of the biggest winners was Teck Resources, leaping 10.72%. On the flipside, cannabis names struggled with Organigram down 6%. Among the headlines was Lightspeed, which debuted on the NYSE Friday, but closed -4.09%, and in Toronto -4.35%. Oil stabilized, but gold inched down 0.75% by closing.
🚐 FedEx +3.72%
🏗 Caterpillar +3.97%
👟 Nike Inc +3.21%
💾 Advanced Micro Devices -3.34%
🥩 Beyond Meat Inc. -5.70%
💨 SalesForce.com Inc. -4.70%
🚲 Peloton Interactive -4.23%
🛢 Teck Resources Ltd. (B) +10.72%
🌿 Organigram Holdings -6%
💿 Lightspeed POS -4.35%