Sell-off continues, Bitcoin down
Thursday saw more losses in stocks in Toronto and New York to start the new year and halt the Santa Claus rally. The S&P closed -0.8%, the Nasdaq -1.18%, and the Dow -0.63%. Like the day before, there were losses across the board, starting with tech.
Tesla finished -3.87% and AMD -2.41%. However, Eli Lilly rallied 4.22% and Marathon Petroleum 3.61% as oil rebounded. Meanwhile, the U.S. 10-year yield continued to inch up, reaching 3.91%. In contrast, Bitcoin slid 5.2% to US$42,600.
On Bay Street, the TSX closed -0.26%. Only two sectors were positive, namely energy, while consumer discretionary and staples led the remaining sectors down. Notably, Baytex rose 2.95%, First Majestic Silver finished -7.02%, Magna -5.62% and Cenovus 2.76%. First Quantum Minerals continued to make headlines as it jumped 11.03%. Ongoing Middle East tensions drove up the price of WTI crude by 3.75% to $73 a barrel.
🚗 Tesla Inc (TSLA-Q) -3.87%
💾 Advanced Micro Devices (AMD-Q) -2.41%
💊 Eli Lilly & Co. (LLY-N) +4.22%
🛢 Marathon Petroleum (MPC-N) +3.61%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -5.2%
🛢 Baytex Energy Corp (BTE-T) +2.95%
🥈 First Majestic Silver (FR-T) -7.2%
🛢 Magna Int’l. (A) (MG-T) -5.62%
🛢 Cenovus Energy (CVE-T) +2.76%
⛏ First Quantum Minerals (FM-T) +11.03%
