Mixed, muted day on markets

Allan Tong Posted On November 11, 2021

On Remembrance/Veterans Day Thursday, markets were mixed and muted on both sides of the border. The TSX narrowly missed making a new close on thin volumes, but still finished up 0.56%. Materials and tech stocks did the heavy lifting as the telcos showed modest weakness.

Big gainers were Lundin Mining up 3.78%, Kinross Gold popping 6%, Baytex up 3.95 and Hexo surging 11.17%. Losing ground were Bombardier which closed -3.5% and Pollard Banknote at -18.78%. By the closing bell, WTI crude slipped 0.14% right below $80 per barrel, while WCS edged up 0.45% to approach $61.

Wall Street saw mixed action as the tech-heavy Nasdaq surged 0.52%, though the S&P was flat and the Dow slid 0.44%. The U.S. 10-year yield came in at 1.57% as Bitcoin lost 2.3% to trade around $64,700. The Dow components were a jumble of green and red. Walgreens climbed 2%, but Visa slipped 2.38% and Honeywell 2.06%. In consumer names, Disney was hammered for 7%. Tech rebounded after losses earlier this week in reaction to inflation numbers. AMD jumped 4.39% and Baidu advanced 3.53%. Affirm Holdings soared 13.7% while Avis Budget Group roared by 6.43%. However, Beyond Meat fizzled by 13.28% and Bumble tanked by 19.25%. Lastly, gold continued to shine as it inched up to $1,862 an ounce.