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Markets rebound then sink

Allan Tong Posted On January 20, 2022
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For most of Thursday, markets sharply rebounded as much as 1.8%, but sank into the red into the closing minutes. The Dow finished -1.02%, the S&P -1.11% and the Nasdaq 1.3%. The U.S. 10-year yield actually held around 1.822%. Consumer, tech and industrials sold off strongly.

Laggards were Dow by -3.29%, Intel -2.73%, Home Depot -2.75% and AMD -4.96%. Gainers included Baidu up 4.89%, Airbnb at 2.21% and Morgan Stanley regaining 4.26% after recent losses. Meanwhile, Bitcoin added 2% to trade around $42,500 while gold held around $1,835. After hours, Netflix announced earnings and a mixed forecast which triggered an 1.48% slide.

The TSX had a relatively better session, closing -0.69%, even though all sectors except industrials suffered losses. Moving up were Goodfood Market by 4.27%, Osisko Mining at 3.17%. Trican Well Service 2.8% and Maple Leaf Foods 2.39%. Notable laggards were Birchcliffe Energy at -3.94%, Arc Resources -2.45%, Teck Resources -3.45% and Oceanagold -3.9%. Crude oil gave back slightly with WTI dipping below $87 a barrel and WCS shedding 0.5% to around $71.60. Overall, the VIX jumped 7.3% past 25. At a macro level, investors are keeping an eye on Russia and Ukraine tensions, and looking ahead to the next U.S. Fed meeting next week.

🧪 Dow Inc. (DOW-N) -3.29%
💾 Intel (INTC-Q) -2.73%
🛠 Home Depot (HD-N) -2.75%
💾 Advanced Micro Devices (AMD-Q) -4.96%
🈲 Baidu.com (BIDU-Q) +4.89%
🏠 Airbnb (ABNB-Q) +2.21%
🏛 Morgan Stanley (MS-N) +4.26%
🅱 Bitcoin Cash (CRYPTO:BCH) +2%
📺 Netflix Inc. (NFLX-Q) -1.48%
🍱 Goodfood Market Corp. (FOOD-T) +4.27%
⛏ Osisko Mining (OSK-T) +3.17%
🛢 Trican Well Service Ltd. (TCW-T) +2.8%
🍯 Maple Leaf Foods (MFI-T) +2.39%
🛢 Birchcliff Energy Ltd. (BIR-T) -3.94%
🛢 Arc Resources Ltd (ARX-T) -2.45%
⛏ Teck Resources Ltd. (B) (TECK.B-T) -3.45%
🥇 Oceanagold Corp (OGC-T) -3.9%

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