Stocks climb, but tech mixed
Markets in Toronto and New York extended the previous day’s gains on Tuesday, lifted by a likely resolution to the U.S. government shutdown. However, tech stocks were mixed during the session. While the S&P gained 0.21% and the Dow 1.18%, the tech-heavy Nasdaq slipped 0.25% and heavyweight Nvidia sank 2.96%. The other most influential names performed better, with Apple rallying 2.16% and Pfizer jumping 4.59%. Meanwhile Viatris rose 10.13% as Fiserv cratered 43.75%. The U.S. 10-year yield held around 4.122%, while Bitcoin tumbled 2.55% to US$102,990.
The mood on Bay Street was positive as energy, real estate and telcos helped lift the TSX 0.3% higher. Only tech and one other sector lost ground. Major movers: Baytex up 3.31%, Cenovus 2.2%, Brookfield Renewable -5.64%, Energy Fuels -5.1% and Kelt Exploration 6.35%. WTI climbed 1.35% to US$60.95 while gold continued to sail high at US$4,130. On Wall Street, AMD jumped 8.9%, Albemarle 6.06%, United Airlines 5.2%, Delta Airlines 4.7% and Chipotle 4.95%. In commodities, gold climbed US$68 to US$4,195 though WTI slipped 4.25% to US$58.45. Bitcoin shed US$910 to US$101,695. The U.S. 10-year yield hovered around 4.067%.
