Mixed earnings, mixed markets
Thursday saw markets swing between green and red, a day after the U.S. Fed’s comments that it would temper its interest rate hikes. Earnings, good and bad, dominated in the indices. In Canada, the TSX climbed 0.35% with all but two sectors (energy and utilities) rallying.
Materials and tech led the way with Shopify popping 5.48% and Barrick Gold rising 4.83%. Other influential names included Suncor at -2.4%, CIBC -7.69% after reporting earnings, and Kinross up 6.29%. WTI crude added another 0.62% to top $81.
Wall Street would have been generally flat or mildly positive were it not for Salesforce tanking 8.29% after reporting earnings and announcing that its co-CEO was stepping down. CRM weighed on the Dow, which retreated 0.56% for the session (but has risen 20% since its October low). The S&P closed -0.09 but the Nasdaq advanced 0.13%. Major movers were Meta up 2.2%, Etsy 5.77%, Netflix 3.84%, but the Bank of America slid 3.2%. As tech continued to rally, the U.S. 10-year yield sipped to 3.505% while Bitcoin added 1% to nearly touch $17,000.
🛍 Shopify Inc. (SHOP-T) +5.48%
🥇 Barrick Gold (ABX-T) +4.83%
🛢 Suncor Energy Inc (SU-T) -2.4%
🏛 Canadian Imperial Bank of Commerce (CM-T) -7.69%
🥇 Kinross Gold (K-T) +6.29%
💨 SalesForce.com Inc. (CRM-N) -8.29%
🕵️♂️ Meta Platforms Inc / Facebook (META-Q) +2.2%
🛍 Etsy Inc. (ETSY-Q) +5.77%
📺 Netflix Inc. (NFLX-Q) +3.84%
🏛 Bank of America (BAC-N) -3.2%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1%
