Mixed day as consumer stocks tumble
Supply chain woes continued to bedevil the market, particularly consumer names. on the last full trading day this week in America before Thanksgiving, Wall Street was decidedly mixed: the Dow shed 12 points to close essentially flat as the S&P added 0.2% and the Nasdaq recovered 0.44% after recent selling.
Retailers are being hammered by product shortages, which sent the Gap sliding by 24% and Nordstrom plunging 29%. Macy’s was also hit for 4.43% and Abercrombie & Fitch lost 4.55%. The Dow components were mixed though there were some bright spots. Visa regained 2.4% after being pummeled recently, AMD advanced 5.26%, Etsy added 6.22% and Deere rose 5.32%. Meanwhile, Bitcoin slipped 0.5% to trade around $57,300 as gold was flat.
The TSX gained 0.39% as most components, starting with energy, tech and real estate rallied while consumer staples lagged. Trading heavily were Suncor, up 2.24%, Bombardier at 3.37% and Organigram which jumped 5.43% to continued its recent wild ride. Sliding down, however, were Alimentation Couche-Tard at -4.59% and Enghouse which closed at -2.48%. Meanwhile, crude oil lost a little ground as WTI slipped 0.28% to trade over $78 per barrel and WCS lost 0.75% to dip below $59. American markets will closed Thursday and open only partially Friday, though the TSX will be open for business as usual.
🧢 Gap (GPS-N) -24%
🛍 Nordstrom Inc (JWN-N) -29%
🛍 Macys Inc. (formerly Federated Department Stores) (M-N) -4.43%
👕 Abercrombie & Fitch (ANF-N) -4.55%
🏛 Visa Inc. (V-N) +2.4%
💾 Advanced Micro Devices (AMD-Q) +5.26%
🛍 Etsy Inc. (ETSY-Q) +6.22%
🦌 Deere & Co. (DE-N) +5.32%
🅱 Bitcoin Cash (CRYPTO:BCH) -0.5%
🛢 Suncor Energy Inc (SU-T) +2.24%
🚂 Bombardier Inc (B) (BBD.B-T) +3.37%
🌿 OrganiGram Holdings Inc. (OGI-T) +5.43%
🛒 Alimentation Couche-Tard (B) (ATD.B-T) -4.59%
💾 Enghouse Systems (ENGH-T) -2.48%
