Stocks and oil climb
China continues to ease its lockdown restrictions, which helped lift markets on Tuesday. Unlike Monday’s session, Tuesday saw stocks close on strength. The Nasdaq and S&P gained nearly 1%, the Dow 0.8% and the TSX up 0.52% driven by higher oil prices and tech stocks. The U.S. 10-year yield dipped below 3% while Bitcoin held around $31,300. Oil prices were choppy, but WTI gained 1.25% to $120 and WCS jumped nearly 4% past $101.
This helped push the TSX as Baytex surged 6.23%, Crescent Point 5.43% and Cenovus 3%. Losers included Canfor down 4.91% and Nutrien slipping 3.39%. Shopify shareholders voted to grant their founding CEO more voting power, and shares rose 5.3%.
On Wall Street, most sectors were in the green. Salesforce rallied 2.34%, Apple 1.76%, Exxon surged 4.58% and Devon Energy 1.92% as energy led gains. In contrast, retail continued to sing the blues as Target slumped 2.29%. Elsewhere, Mosaic slid 4% and Etsy shed 2.8%.
🛢 Baytex Energy Corp (BTE-T) +6.23%
🛢 Crescent Point Energy Corp (CPG-T) +5.43%
🛢 Cenovus Energy (CVE-T) +3%
🌲 Canfor Corp (CFP-T) -4.91%
🌿 Nutrien Ltd. (NTR-T) -3.39%
🛍 Shopify Inc. (SHOP-T) +5.3%
💨 SalesForce.com Inc. (CRM-N) +2.34%
🍎 Apple (AAPL-Q) +1.76%
🛢 Exxon Mobil (XOM-N) +4.58%
🛢 Devon Energy Corp (DVN-N) +1.92%
🛒 Target Corp (TGT-N) -2.29%
🌿 Mosaic Company (The) (MOS-N) -4%
🛍 Etsy Inc. (ETSY-Q) -2.8%
