Stocks and yields rally
For now at least, investors are shrugging off rises in the U.S. 10-year yield and buying tech stocks. On Tuesday, the yield jumped 2.3% to 1.641% while the tech-heavy Nasdaq ran up 0.71% to hover just 2% below its all-time high. The Dow added 0.57% and the S&P advanced 0.74%. There was green across the Dow components, though healthcare was a little mixed.
Gainers included Merck by 3%, global bellwether Deere at 3.39%, Qualcomm 1.83%, Pfizer 1.86% and Baidu 4.65%. Losing ground were travel names Carnival at -3.42% and United Airlines at -2.01%, and Western Union down -5.31%.
Crude oil continued its climb as WCS added 1.2% to top $68 per barrel, and WTI 0.5% to nearly break $83. This helped lift the TSX 0.48% to another record close at 21,086, the first time the index has cracked 21K. Getting higher were pot stocks such as Tilray which soared 15.71% and Hexo by 14.83%. BlackBerry leapt 13.39% while Xebec Adsorption jumped 10%. Telcos were flat and staples lost a bit of ground, but otherwise the Toronto sectors were well into the green. Gold added a few dollars on a quiet day to bubble below $1,800, while Bitcoin jumped 4.5% past $64,000.
💊 Merck & Company (MRK-N) +3%
🦌 Deere & Co. (DE-N) +3.39%
💿 Qualcomm (QCOM-Q) +1.83%
💉 Pfizer Inc (PFE-N) +1.86%
🈲 Baidu.com (BIDU-Q) +4.65%
🚢 Carnival Corp. (CCL-N) -3.42%
🛫 United Airlines Holdings (UAL-Q) -2.01%
🏛 Western Union Co. (WU-N) -5.31%
🌿 Tilray Inc. (TLRY-Q) +15.71%
🌿 Hexo Corp (HEXO-T) +14.83%
📱 BlackBerry (BB-T) +13.39%
🏗 Xebec Adsorptions Inc (XBC-X) +10%
🅱 The Bitcoin Fund (QBTC.U-T) +4.5%
