Markets pause, awaiting earnings

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U.S. stocks held their breath ahead of major earnings after the bell. The S&P and Dow flat-lined, while the Nasdaq finished -0.34%. After the close, Alphabet/Google reported a top- and bottom-line blow-out and shares jumped nearly 5%. However, Microsoft also reported top and bottom beats, but shares fell around 3.5%. Mondelez also beat top and bottom and shares climbed 1.5%. AMD also beat top and bottom and shares popped 3%. During the Tuesday session, industrials and energy rallied, though healthcare slumped.

However, transports delivered huge gains after UPS blew past earnings with revenue jumping 27% in Q1, driven by e-commerce sales. UPS soared 10.2%. FedEx popped 4.16% after it announced a deal to wed FedEx’s e-commerce platform, ShopRunner, with Adobe. Adobe shares ticked up 0.31%. Despite reporting a good quarter after Monday’s close, Tesla closed -4.53%.

Crude oil prices spiked, with the WTI gaining over 2% and WCS nearly 3%. This helped lift the TSX 0.13%. Materials, telcos and staples dragged down the Canadian index, while energy and real estate rose. Notable gainers included BlackBerry up 2.22%, Cargojet by 5% to ride the transport rally, and Pollard Banknote by 5.48%. Mining names lost ground, including Oceanagold at -6.11% and Roxgold -4.98%. Meanwhile, Bitcoin rose 1.35% to surpass $68,000 while the price of gold declined slightly.

🧮 Alphabet Inc. / Google +5%
Ⓜ Microsoft -3.5%
🍱 Mondelez International +1.5%
💾 Advanced Micro Devices +3%
🚚 United Parcel Services +10.2%
📦 FedEx +4.16%
💿 Adobe Systems +0.31%
🚗 Tesla Motors Inc -4.53%
📱 BlackBerry +2.22%
🛫 Cargojet Inc +5%
♠ Pollard Banknote Ltd +5.48%
🥇 Oceanagold Corp -6.11%
🥇 Roxgold Inc -4.98%
🅱 The Bitcoin Fund +1.35%