Minerals shine, Tesla skids

A strong performance in several mineral stocks lifted the TSX by 13 points on Thursday to approach record highs. Energy was actually the strongest sector while healthcare and tech were the weakest.

Major movers on Bay Street were First Majestic Silver, soaring 15.49%, Fortuna Mining 9.65%, Ivanhoe Mines 8.18% and Novagold Resources -5.62%. However, Descartes System reported a miss and soft guidance and saw its shares plunge 12.11%. In commodities, WTI crude added half a dollar to US$63.35, while gold declined US$16 to US$3,356.

American stocks faded during the session, though Trump signaled that trade talks with China would extend. However, that announcement was overshadowed by a bitter spat erupting with Elon Musk who has been slamming Trump’s tax bill for inflating the U.S. debt. Trump bit back today by threatening to withdraw Washington’s subsidies for Tesla’s EVs. Tesla shares tanked 14.26% as the most-active name on Wall Street. Other movers: Palantir -7.77%, Dollar Tree 9.08%, Norwegian Cruise Line 5.16% and Super Micro Computer -7.61%. Bitcoin sank US$3,280 to US$101,390 while the U.S. 10-year yield crept up to 4.396%.

🥈 First Majestic Silver (AG-N) +15.49%

⛏ Fortuna Silver Mines (FVI-T) +9.65%

⛏ Ivanhoe Mines Ltd (IVN-T) +8.18%

🥇 NovaGold Resources Inc (NG-T) -5.62%

💾 Descartes (DSG-T) -12.11%

💾 Palantir Technologies (PLTR-Q) -7.77%

🌳 Dollar Tree (DLTR-Q) +9.08%

🚢 Norwegian Cruise Line Holdings (NCLH-N) +5.16%

💾 Super Micro Computer (SMCI-Q) -7.61%

🚗 Tesla Inc (TSLA-Q) -14.26%