No rally after EU trade agreement

Allan Tong Posted On July 28, 2025

Markets failed to rally after the U.S. struck a preliminary trade agreement with the EU. True, the Nasdaq rose 0.33% to another record close, but the Dow sank 0.14% while the S&P was flat. Investors may be holding their breath for a heavy week of earnings, primarily from the Mag 7, and the latest announcement from the U.S. Fed about interest rates.

Major movers: Super Micro Computer soared 10.24%, Nvidia continued to march higher, up 1.87%, Tesla rose 3.02% while Albemarle closed -10.71% and Centene -5.39%. Bitcoin slid over 1% to US$117,555 while the U.S. 10-year yield hovered around 4.414%.

The TSX gave back 0.32% on Monday as only three sectors gained. Energy was the best performer, but could not match losses in materials, real estate and telcos. Winners included Baytex up 4.58% and Cenovus at 3.83%. Losers: New Gold -5.95%, Orla Mining -4.27% and Quebecor -3.22%. Gold declined US$20 to US$3,317 while WTI jumped 3% to US$67.10 after Trump applied more pressure on Putin concerning Russia’s war on Ukraine.

💾 Super Micro Computer (SMCI-Q) +10.24%

💾 NVIDIA Corporation (NVDA-Q) +1.87%

🚗 Tesla Inc (TSLA-Q) +3.02%

⛏ Albemarle Corp (ALB-N) -10.71%

👨‍⚕️ Centene (CNC-N) -5.39%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1%

🛢 Baytex Energy Corp (BTE-T) +4.58%

🛢 Cenovus Energy (CVE-T) +3.83%

🥇 New Gold Inc. (NGD-T) -5.95%

⛏ Orla Mining (OLA-T) -4.27%

🖨 Quebecor Inc (B) (QBR.B-T) -3.22%