Moderate Monday
Markets on both sides of the border saw modest moves in light summertime trading to begin the week. The TSX slipped 0.1% with sectors mixed. Materials rose the most while telcos and utilities sold off.
Major movers were Baytex up 2.7%, Quebecor -4.26%, Transcontinental -3.98%, Dye & Durham 6.85% and Tilray jumping 6.02% WTI crude slipped by 0.8% to trade above $73 a barrel. The Bank of Canada is expected to raise interest rates this week to combat inflation.
Similarly, Wall Street is waiting for the latest consumer and producer inflation numbers this week. Markets rose modestly with the S&P up 0.21%, the Nasdaq 0.15% and the Dow 0.59%. Travel names were strong with Wynne Resorts jumping 5.69% and MGM 5.59%. However tech showed weakness as Alphabet class C closed -2.72% and Amazon -2.04% though Intel rallied 2.75%. The U.S. 10 year yield stayed at 4.004% while Bitcoin rose 2.28% to $30,800.
🛢 Baytex Energy Corp (BTE-T) +2.7%
🖨 Quebecor Inc (B) (QBR.B-T) -4.26%
🖨 Transcontinental Inc. (A) (TCL.A-T) -3.98%
💾 Dye & Durham (DND-T) +6.85%
🌿 Tilray Inc. (TLRY-Q) +6.02%
♠ Wynne Resorts Ltd. (WYNN-Q) +5.69%
♠ MGM Mirage (MGM-N) +5.59%
🧮 Alphabet Inc (GOOG-Q) -2.72%
📦 Amazon.com, Inc. (AMZN-Q) -2.04%
💾 Intel (INTC-Q) +2.75%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.28%
