Microsoft revives tech
Tech earnings continued to dominate the week as Microsoft reported beats including on its AI business. MSFT shares rocketed 15.51%, lifting the Nasdaq by 2.78%. Sandisk soared 25.99% and Micron 18.36%, but Meta tumbled 7.95% after reporting a disappointing quarter. The S&P rallied 1.66% and the Dow 1.19%. Bitcoin climbed US$1,300 to US$64,735, but the U.S. 10-year yield continued its ascent after the U.S. Fed announcement of no interest rate hikes by rising to 4.675%.
The TSX was mixed though managed to add 0.49%. Healthcare and materials saw sharp gains, but industrials and telcos took a bath. Key names: Bausch Health spiked 28.51%, Telus sank 3.64% to reverse earlier gains, Lightspeed fell 12.8% though Teck Resources rallied 8.24%. Whitecap was the most active name, adding 2.75% as WTI increased US$0.40 to US$84.05 as the U.S. and Iran continued to trade fire. Gold increased over US$40 to US$4,110 and silver rose 2.55% to US$59.
Ⓜ Microsoft Corp (MSFT) +15.51%
💾 Sandisk Corp (SNDK) +25.99%
💾 Micron Technology (MU) +18.36%
🕵️♀️ Meta Platforms, Inc. (META) -7.95%
👨⚕️ Bausch Health Companies Inc. (BHC.TO) +28.51%
📱 Telus Corp (T.TO) -3.64%
💾 Lightspeed Commerce Inc (LSPD.TO) -12.8%
⛏ Teck Resources Ltd. (B) (TECK.B.TO) +8.24%
🛢 Whitecap Resources (WCP.TO) +2.75%
