Sideways Tuesday

Allan Tong Posted On July 8, 2025

The uncertainty caused by TACO (Trump’s ever-changing tariff policies) kept markets gridlocked on Tuesday as the S&P and Nasdaq were basically flat and the Dow sank 0.38%. Even the U.S. 10-year yield held around 4.4%, though Bitcoin gained 0.8% to US$108,760. Major movers on Wall Street included Intel rallying 7.3% after starting layoffs, Bank of America -3.13%, Fair Isaac -8.93%, Moderna popping 8.66% and Albemarle 7.19%.

In Canada, the TSX closed below 27,000 after slipping 0.49%. Sectors were mixed with energy and telcos outperforming all, and materials sinking the most by far. Major movers: Iamgold -7.81%, SSR Mining -8.7%, Ivanhoe Mines 4.23%, Baytex soaring 9.72% and Vermilion Energy up 4.86%. Gold declined US$33 to US$3,303 while WTI regained 0.56% to US$68.30.

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +0.8%

💾 Intel (INTC-Q) +7.3%

🏛 Bank of America (BAC-N) -3.13%

📃 Fair Isaac Corp. (FICO-N) -8.93%

💉 Moderna (MRNA-Q) +8.66%

⛏ Albemarle Corp (ALB-N) +7.19%

🥇 Iamgold Corp (IMG-T) -7.81%

⛏ SSR Mining (SSRM-T) -8.7%

⛏ Ivanhoe Mines Ltd (IVN-T) +4.23%

🛢 Baytex Energy Corp (BTE-T) +9.72%

🛢 Vermilion Energy Inc (VET-T) +4.86%