Stock slump continues
Markets in New York and Toronto continued to weaken on Tuesday. The TSX closed 0.54% lower as only two sectors managed gains for the session, particularly health care. Telcos and staples led the remaining sectors down.
Making outsized moves were Tilray by 4.14%, BlackBerry at 3.64%, Air Canada -9.35% and Bombardier -5.04%. Canadian inflation for November declined to 1.9%, beating the Bank of Canada’s 2% goal as interest rates are expected to continue to fall. WTI crude gave back 0.7% to US$70.20 a barrel while gold declined US$5 to US$2,644.
The major indices on Wall Street all sanb: the S&P -0.39%, the Dow -0.61% and the Nasdaq -0.32%. Nvidia extended its losing street by falling 1.54% into correction territory, again as the most-active name, Tesla climbed 3.93% and Broadcom ended the day -3.91% after a recent rally. However, health care, in particular health insurance, dominated the news given signals that the incoming administration in Washington will impact its business. Humana slid nearly 10%. However, the market approved of Pfizer‘s 2025 forecast and sent shares jumping 4.37%. The U.S. 10-year-yield remained at 4.399%, while Bitcoin continued its record run by inching up 0.38% to US$106,500.
🌿 Tilray Inc. (TLRY-Q) +4.14%
📱 BlackBerry (BB-T) +3.64%
🛫 Air Canada (AC-T) -9.35%
🚂 Bombardier Inc (B) (BBD.B-T) -5.04%
💾 NVIDIA Corporation (NVDA-Q) -1.54%
🚗 Tesla Inc (TSLA-Q) +3.93%
🧬 Broadcom (AVGO-Q) -3.91%
👨⚕️ Humana Inc (HUM-N) -10%
💉 Pfizer Inc (PFE-N) +4.37%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +0.38%
