Markets weaken amid earnings

Allan Tong Posted On April 30, 2024

The major U.S. indices sank around 1.2% Tuesday amid a flurry of earnings. The tech-heavy Nasdaq surrendered the most, down 1.33%, as the U.S. 10-year yield climbed to 4.684%.

Tesla closed -4.84% amid heavy trading, and gave back some of its recent gains. Eli Lilly reported a positive quarter and rallied 5.79%, 3M rose 5.76%, but Warner Bros. Discovery ended Tuesday at -9.57% and Amazon -1.38%, but jumped 3% when it reported earnings after the closing bell. Bitcoin, however, slid over 6% to settle below US$60,000.

The TSX fared slightly better by declining 1.03%. Nearly every sector fell, particularly industrials, materials and energy, while only health care showed any real strength. Reporting was Restaurant Brands International which delivered a beat and rallied 3.54%, Cargojet climbed 2.71%, though Ivanhoe Mines closed 9.51% and Nexgen Energy -9.19%. Tilray soared 41.91%. Gold sank 1.85% to US$2,290 an ounce while WTI shed $1 to US$81.60 a barrel.

🚗 Tesla Inc (TSLA-Q) -4.84%

💊 Eli Lilly & Co. (LLY-N) +5.79%

💾 3M Co. (MMM-N) +5.76%

📺 Warner Bros. Discovery (WBD-Q) -9.57%

📦 Amazon.com, Inc. (AMZN-Q) -1.38%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -6%

🍱 Restaurant Brands International (QSR-T) +3.54%

🛫 Cargojet Inc (CJT-T) +2.71%

⛏ Ivanhoe Mines Ltd (IVN-T) -9.51%

⚡ NexGen Energy (NXE-T) -9.19%

🌿 Tilray Inc. (TLRY-Q) +41.91%