Megatech earnings lift Wall Street, yields hit highs

It was a hectic end to July as the Mag 7 continued to report earnings while yields and the price of crude oil continued to surge. Amazon reported a beat and leapt 15.32% while Apple reported a miss and fell 7.35%. Despite that, the Nasdaq rose 1% for the session and 1.6% for the week. The S&P gained 0.7% and the Dow 0.53% on Friday, while both indices rose over 1% for the week. Other key names: Nvidia 2.93% as the most-active stock, GoDaddy -16.7% and Micron -5.9%. Bitcoin slid 2.7% to just under US$63,000. The U.S. 10-year yield continued to climb, up to 4.718%, a 52-week high.

In contrast, telcos, tech and materials dragged the TSX 0.79% lower on Friday and -0.4% for the week. Only four sectors saw gaines, led by healthcare. Telus announced it was selling assets and slashing its dividend; shares tumbled 11.27%. Baytex rallied 6.5%, Equinox Gold -4.78%, Denison Mines -3.19% and Bausch Health 14.47%. Silver sank 2.2% to US$57.70, gold declined US$50 to US$4,050 and WTI added another dollat to US$84.60 with no end in sight to the US-Iran war.

📦 Amazon.com, Inc. (AMZN) +15.32%

🍎 Apple Inc (AAPL) -7.35%

💾 NVIDIA Corporation (NVDA) +2.93%

💾 Go Daddy (GDDY) -16.7%

💾 Micron Technology (MU) -5.9%

🅱 Bitcoin (BTCUSD) (BTC-USD) -2.7%

📱 Telus Corp (T.TO) -11.27%

🛢 Baytex Energy Corp (BTE.TO) +6.5%

🥇 Equinox Gold (EQX.TO) -4.78%

⛏ Denison Mines Corp (DML.TO) -3.19%

👨‍⚕️ Bausch Health Companies Inc. (BHC.TO) +14.47%