Oil and stocks sink
It was another down day on the markets as oil, stocks and cryptos all declined. WTI crude shed 3.75% to fall to $85 a barrel while Bitcoin slid 2% below $20,000. The S&P closed -1.13%, the Nasdaq -1.43% and the Dow -0.56%.
Energy and tech were particularly weak as Microsoft finished -2.71% and Adobe -16.79% after it announced a major acquisition that the street felt was overpriced (this overshadowed decent quarterly earnings). Elsewhere, Humana rose 8.37%, Wynne Resorts 7.48%, Paramount 5.16% and CSX -3.39%. The U.S. 10-year yield inched up 3.449% as jitters over the Fed hiking interest rates persisted. The consensus remains at 75-point increase.
In Toronto, only financials and telcos were positive while utilities and staples led the laggards. Major gainers were Cronos up 2.92% and Rogers at 2.65%. Among the influential names were CNQ at -3.11%, Suncor -2.71%, Crescent Point Energy -3.96% and Baytex at -3.39%.
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2%
Ⓜ Microsoft (MSFT-Q) -2.71%
💾 Adobe Systems (ADBE-Q) -16.79%
👨⚕️ Humana Inc (HUM-N) +8.37%
♠ Wynne Resorts Ltd. (WYNN-Q) +7.48%
📺 Paramount Global (PARA-Q) +5.16%
🚂 CSX Corp (CSX-Q) -3.39%
🌿 Cronos Group Inc (CRON-T) +2.92%
📡 Rogers Communications (B) (RCI.B-T) +2.65%
🛢 Canadian Natural Rsrcs (CNQ-T) -3.11%
🛢 Suncor Energy Inc (SU-T) -2.71%
🛢 Crescent Point Energy Corp (CPG-T) -3.96%
🛢 Baytex Energy Corp (BTE-T) -3.39%
