Mixed Friday, mixed week
Earnings and lingering hawkish sentiment from the U.S. ended the trading week on a mixed note. The TSX was essentially flat on Friday, adding 14 points and rising 0.23% for the week. Sectors were mixed with staples and energy leading, but consumer discretionary lagging badly.
Major movers included Enbridge by 2.36%, Suncor at 2.8% and Saputo jumping 5.33%, but Magna tanked 17% after warning of weaker earnings. WTI oil leapt 2.25% to nearly $80 after Russia announced production cutbacks.
On Wall Street, the S&P added 0.22% for the session, but declined 0.71% for the week, its first loss of 2023. The Nasdaq shed 0.61% Friday and lost 1.5% over the week while the Dow rose 0.5%, but was flat for the week. By far, energy was the biggest sector for the week. Key stocks included Tesla down 5.39%, Nvidia also losing 4.88%, Ford down 5.89%, but PayPal rose 3.07%. The U.S. 10-year yield held around 3.745% while Bitcoin ticked down slightly to $21,700.
🛢 Enbridge (ENB-T) +2.36%
🛢 Suncor Energy Inc (SU-T) +2.8%
🥫 Saputo Inc. (SAP-T) +5.33%
🚘 Magna Int’l. (A) (MG-T) -17%
🚗 Tesla Inc (TSLA-Q) -5.39%
💾 Nvidia Corp (NVDA-Q) -4.88%
🚚 Ford Motor (F-N) -5.89%
💳 PayPal Holdings Inc. (PYPL-Q) +3.07%
