Stocks and oil climb in quiet trading
It was a typically quiet summer session on Thursday which saw the major indices on Wall Street as well as the TSX climb modestly into the green. The S&P closed 0.24%, the Nasdaq 0.21%, and the Dow was flat. Crude oil continued to gain with WTI adding $2.50 to $90.60 and WCS advancing $1.35 to over $70.
On Wall Street, the big movers were Devon Energy up 5.66%, Halliburton by 5.57% and Marathon Oil up 5.02%. Also gaining were Cisco by 6% and AMD by 2.21%. Losing ground were Verizon at -2.55% and the health stocks Walgreens at -6.28% and Moderna at -5.2%. The U.S. 10-year yield fluttered around 2.88% while Bitcoin shed about $50 to stay around $23,300.
In Toronto, energy, industrials and materials led by 0.58% to 20,299. The sectors were mostly flat except for gains in energy and materials. Oil stocks led, including CNQ by 2.87%, Athabasca Oil by 9% and Baytex at 5.33%. However, cannabis stocks dipped on it rollercoaster ride of late. Canopy fell 6.12% while Aurora slid 4.89%.
🛢 Devon Energy Corp (DVN-N) +5.66%
🛢 Halliburton Co (HAL-N) +5.57%
🛢 Marathon Oil (MRO-N) +5.02%
📡 Cisco (CSCO-Q) +6%
💾 Advanced Micro Devices (AMD-Q) +2.21%
📡 Verizon Communications (VZ-N) -2.55%
💊 Walgreen Boots Alliance (WBA-Q) -6.28%
💉 Moderna (MRNA-Q) -5.2%
🛢 Canadian Natural Rsrcs (CNQ-T) +2.87%
🛢 Athabasca Oil Sands Corp (ATH-T) +9%
🛢 Baytex Energy Corp (BTE-T) +5.33%
🌿 Canopy Growth Corp. (WEED-T) -6.12%
🌿 Aurora Cannabis (ACB-T) -4.89%