Mideast tensions rattle Wall Street, oil and TSX climb

Allan Tong Posted On October 1, 2024

Q4 began with a spike in Mideast tensions as Iran now entered the fray against Israel. Oil prices spiked with WTI jumping 3.7% to US $70.70 a barrel, and gold rising US$27 to US$2,661 an ounce. If not for oil, the TSX would have sunk. Instead, it rose 0.14% to match the all-time high established last week of 24,033. All but two Canadian sectors declined, led by tech and health care.

Major movers: CNQ 4.48%, Baytex 4.46%, BlackBerry -7.58%, Aritzia -3.54% and Celestica -3.12%.

The picture was different on Wall Street as the S&P closed on Tuesday -0.93%,, the Nasdaq -1.53% and the Dow -0.4%. There was a lot of red on trading screens. Major movers: Nvidia -3.66%, Intel -3.28%, Humana -11.77%, Paychex 4.92% and ConocoPhillips 3.88%. Bitcoin sank 5% to US$60,580 as the U.S. 10-year-yield held around 3.733%.

🛢 Canadian Natural Rsrcs (CNQ-T) +4.48

🛢 Baytex Energy Corp (BTE-T) +4.46%

📱 BlackBerry (BB-T) -7.58%

🥻 Aritzia Inc. (ATZ-T) -3.54%

🧬 Celestica Inc (CLS-T) -3.12%

💾 NVIDIA Corporation (NVDA-Q) -3.66%

💾 Intel (INTC-Q) -3.28%

👨‍⚕️ Humana Inc (HUM-N) -11.77%

💾 Paychex (PAYX-Q) +4.92%

🛢 ConocoPhillips (COP-N) +3.88%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -5%