Markets fade amid megatech earnings

The major indices lost ground Wednesday as the biggest tech stocks continued reporting.

Alphabet reported a beat and rallied 2.82%. However, Super Micro Computer‘s accounting firm quit and shares tanked nearly 33%. Elsewhere Garmin soared 23.25% and AMD closed -10.62% on a mixed quarter. The US 10-year yield held around 4.28% as Bitcoin slipped 0.5% to below US$72,000.

The TSX closed -0.22% as only three sectors rose. Staples rallied but materials and tech lagged the most. Key movers: Secure Energy Services 9.88%, Capital Power 7.72%, Precision Drilling 7.03%, Aritzia 6.34% and New Gold -1.98%. Gold added US$10 to US$2,784 as WTI jumped 2.5% to US$68.90.

🧮 Alphabet Inc (GOOG-Q) +2.82%

💾 Super Micro Computer (SMCI-Q) -33%

🧬 Garmin Limited (GRMN-Q) +23.25%

💾 Advanced Micro Devices (AMD-Q) -10.62%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.5%

🛢 Secure Energy Services (SES-T) +9.88%

💡 Capital Power (CPX-T) +7.72%

🏗 Precision Drilling (PD-T) +7.03%

👗 Aritzia Inc. (ATZ-T) +6.34%

🥇 New Gold Inc. (NGD-T) -1.98%