Oil spikes, stocks fade to end week

Markets extended trends from Thursday into Friday as oil continued to surge while most other sectors declined. WTI jumped over 4% to US$103.55, as energy names like Baytex rallied 3.22% and CNQ 2.15%. Energy was the lone bright spot on the TSX, as all other sectors fell, led by staples, real estate and materials. The S&P slipped 0.4% on Friday or nearly 180 points, and declined over 1% for the week. Gold sank U$28 to below US$4,000 and silver slid 1.25% to US%53.80. Other key Canadian stocks were Mullen Group -10.9%, Air Canada -4.65%, IGM Financial -4% and Eldorado Gold -3.88%.

In New York, the S&P lost half a percent on Friday and over the week, the Dow slid 1.24% but managed to gain 0.4% for the week, while the volatile Nasdaq settled 0.21% lower for the session and declined 0.7% for the week. The U.S. 10-year yield reversed direction by returning to 5%, while Bitcoin held at US$81,260. Major movers on Wall Street: Crown Castle 9.06%, Crowdstrike 8.25%, AT&T -7.96%, T-Mobile -7.71% and Bloom Energy -11.24%.

🛢 Baytex Energy Corp (BTE.TO) +3.22%

🛢 Canadian Natural Rsrcs (CNQ.TO) +2.15%

🚚 Mullen Group Ltd (MTL.TO) -10.9%

🛫 Air Canada (AC.TO) -4.65%

🏛 IGM Financial Inc. (IGM.TO) -4%

🥇 Eldorado Gold (ELD.TO) -3.88%

🏛 Crown Castle International (CCI) +9.06%

💾 CrowdStrike Holdings (CRWD) +8.25%

📱 AT&T (T) -7.96%

📱 T-Mobile US (TMUS) -7.71%

🧬 Bloom Energy (BE) -11.24%