Rally pauses
Last week’s rally paused on Monday as a see-saw session ended on weakness. The TSX returned below 20,000 by shedding 0.56%. Most sectors were down, particularly real estate and utilities while only telcos and materials were up.
Notable movers included Dye & Durham, rising 6.32%, Equinox Gold up 3.52%, Canadian Tire down 6.33%, Enbridge slipping 3.64% and Algonquin Power sliding another 14% after last week’s earnings and weak forecast. Crude oil also gave back recent gains as WTI fell 4% to $85 a barrel.
On Wall Street, the S&P closed Monday -0.8%, the Nasdaq -1.12%, and the Dow -0.62%. All of the S&P components were in the red, except for health care. Moderna popped 4.4% and Pfizer advanced nearly 4%. Elswhere, AMD rose 2.11% while Hasbro slid 9.59%. The U.S. 10-year yield inched up to 3.871% while crypto’s woes continued with the FTX fall-out. Bitcoin slipped 1.5% to fall nearly to $16,000.
💾 Dye & Durham (DND-T) +6.32%
🥇 Equinox Gold (EQX-T) +3.52%
🛒 Canadian Tire Corporation Ltd. (A) (CTC.A-T) -6.33%
🛢 Enbridge (ENB-T) -3.64%
♻ Algonquin Power & Utilities Corp (AQN-T) -14%
💉 Moderna (MRNA-Q) +4.4%
💊 Pfizer Inc (PFE-N) +4%
💾 Advanced Micro Devices (AMD-Q) +2.11%
🧩 Hasbro Inc (HAS-Q) -9.59%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.5%
