Mixed day to end strong year
Markets ended the week mixed with the TSX adding 0.14% while the S&P closed -0.24%, the Nasdaq -0.46% and the Dow -0.07%. However, Friday capped a strong year that saw the American market rebound, led by tech. Over 2023, the S&P jumped 24%, the Dow nearly 13.7% and the Nasdaq 43.4%. The S&P and Dow made all-time highs. In contrast, weak oil and bank stocks kept the TSX’s 2023 gains to 8.14% and well below its all-time high.
On Friday in Toronto, most sectors rose, led by staples and industrials. Key names were Nexgen Energy up 2.66%, Denison Mines 2.65%, Cargojet 2.36%, Tilray -3.47% and Oceanagold -3.42%. WTI crude slipped 0.5% to $71.40 a barrel.
On Wall Street, Tesla finished -1.6%, Warner Bros. Discovery -2.57%, Albemarle -3.52%, Boston Scientific 2.9% and Uber -2.6%. The U.S. 10-year yield held around 3.86% while Bitcoin fell 1.25% to $42,000. Inflation and interest rates will lead markets in 2024 as they did in 2023. For Stockchase analysis and stock picks in the new year, please check out our January Monthly Gems.
Have a prosperous new year!
🛢 NexGen Energy (NXE-T) +2.66%
⛏ Denison Mines Corp (DML-T) +2.65%
🛫 Cargojet Inc (CJT-T) +2.36%
🌿 Tilray Inc. (TLRY-Q) -3.47%
🥇 Oceanagold Corp (OGC-T) -3.42%
🚗 Tesla Inc (TSLA-Q) -1.6%
📺 Warner Bros. Discovery (WBD-Q) -2.57%
⛏ Albemarle Corp (ALB-N) -3.52%
💊 Boston Scientific Corp (BSX-N) +2.9%
🚖 Uber (UBER-N) -2.6%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.25%
