Record highs cap February
The trading week and month ended on a Friday rally that saw the Nasdaq and S&P make record highs and the TSX approach its peak. Once again, AI-led tech stocks fueled the Friday rally as the Nasdaq rose 1.13% to 16,273 and advance over 4% for the month. The S&P climbed 0.81% on Friday and 3.6% in February as it reached 5,137. The Dow added 0.26% during the session and 1.12% in the month.
Notable names were AMD popping 5.03%, Meta adding 2.48% to make its own new high, and Western Digital up 8.12%. However, New York Community Bancorp tanked nearly 26% after reporting concerns over “internal controls” which revived calls for more government oversight over regional American banks. Meanwhile, the U.S. 10-year yield declined to 4.186% as and Bitcoin added another 2.75% to $62,800.
The TSX rallied 0.86% on Friday and gained 2.05% for the month. Nearly all sectors rose, led by materials, energy and tech while discretionary lagged. The most-traded names were Suncor up 1.65% and CNQ at 3.34%. Tamarack Valley climbed 3.87%, SNC-Lavalin 11.36% and Parex Resources -6.39%. WTI crude rose about 2% to nearly $80 a barrel.
💾 Advanced Micro Devices (AMD-Q) +5.03%
🕵️♂️ Meta Platforms Inc / Facebook (META-Q) +2.48%
💾 Western Digital (WDC-Q) +8.12%
🏛 New York Community Bankcor Inc. (NYCB-N) -26%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.75%
🛢 Suncor Energy Inc (SU-T) +1.65%
🛢 Canadian Natural Rsrcs (CNQ-T) +3.34%
🛢 Tamarack Valley Energy (TVE-T) +3.87%
🏛 SNC-Lavalin Group Inc. (ATRL-T) +11.36%
🛢 Parex Resources Inc. (PXT-T) -6.39%
