Markets stabilize as Mideast war resumes
As the US and Iran resumed fighting over the Strait of Hormuz, WTI oil climbed another 2.25% to US$79.90, though markets in New York and Toronto stabilized. The American indices regained some of the ground they lost in Monday’s sell-off: S&P 0.38%, the Nasdaq 0.9% while the Dow was flat. Goldman Sachs surged 9% as the US banks reported, Crowdstrike popped 12.14%, Nvidia rose 4.06%, though IBM cratered by 25.21% after issuing a Q2 earnings warning, and Spacex slid 2.2% to nearly its IPO price. Meanwhile, Bitcoin jumped 3.7% to US$64,455. The U.S. 10-year yield slipped to 4.585%.
In Toronto, the TSX gained 0.16% though only three sectors were up, including materials. Tech and staples were the worst performers. Silver rallied 2% to US$58.65 and gold climbed US$52.45 to US$4,055. Key names: CNQ -1.86%. BCE -1.94%, BlackBerry 1.98%, First Quantum Minerals 8.26% and Hudbay Minerals 6.72%.
🏛 Goldman Sachs (GS) +9%
💾 CrowdStrike Holdings (CRWD) +12.14%
💾 NVIDIA Corporation (NVDA) +4.06%
💾 IBM Common Stock (IBM) -25.21%
📡 SpaceX (SPCX) -2.2%
🅱 Bitcoin (BTCUSD) (BTC-USD) +3.7%
🛢 Canadian Natural Rsrcs (CNQ.TO) -1.86%
📱 BCE Inc. (BCE.TO) -1.94%
📱 BlackBerry (BB.TO) +1.98%
⛏ First Quantum Minerals (FM.TO) +8.26%
⛏ Hudbay Minerals (HBM.TO) +6.72%
