Pot soars, tech slides

Markets in Toronto and New York retreated on Friday from the previous day’s record-setting gains. The TSX closed -0.44%, the S&P -1.07%, the Nasdaq -1.69% and the Dow -0.51%. Weighing on the U.S. market in particular was disappointing guidance from Broadcom whose shares tanked 11.43%. That, in turn, sparked a sell-off in chip names Nvidia, down 3.27%, and Intel, sinking 4.3%. Meanwhile, Lululemon jumped 9.6% and Mosaic 4.05%. For the week, the S&P slipped 0.63%, the Nasdaq fell 1.62%, but the Dow rose 1.05%.The U.S 10-year yield crept up to 4.185%, while Bitcoin declined 2.85% to US$90,250.

Trading on Bay Street was mixed. By far, healthcare performed the best on a report that Washington may re-classify cannabis which woild make it far easier for these companies to access more capital. Curaleaf rocketed 37.84% in heavy trading. Beyond pot, CAE rallied 5.39%, Parex Resources 4.1% though Celestica sank 12.92% and Energy Fuels sank 7.85%. For the week, the TSX gained 0.69% over the record-setting week. Silver gave back 2.5% to US$61.90 while gold added US$20 to US$4,300. WTI was flat at US$57.50.

🧬 Broadcom (AVGO-Q) -11.43%

💾 NVIDIA Corporation (NVDA-Q) -3.27%

💾 Intel (INTC-Q) -4.3%

🛍 LuLulemon Athletica (US) (LULU-Q) +9.6%

🧫 Mosaic Company (The) (MOS-N) +4.05%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2.85%

🌿 Curaleaf Holdings Inc (CURA-T) +37.84%

🚚 CAE Inc (CAE-T) +5.39%

🛢 Parex Resources Inc. (PXT-T) +4.1%

🧬 Celestica Inc (CLS-T) -12.92%

🛢 Energy Fuels Inc. (EFR-T) -7.85%