Stocks edge up amid mixed markets
After three days of rallying, markets were decidedly mixed on Thursday as soon assets made new highs, while others sank. To start, the S&P added 0.3% to close at a record high of 4,549 while the TSX made yet another record close, inching up 0.08% to 21,204. The Nasdaq actually performed better, up 0.62%, but the Dow struggled and shed six points. In Toronto, tech rallied while energy and materials lagged.
Notable movers included Suncor, shedding 2%, Denison Mines, slipping 3.73%, Organigram adding 2.38%, West Fraser Timber tumbling 2.63%, while Stantec soared 9.77% after the market welcomed its latest acquisition. WTI crude gave back nearly 1% to $82.65 while WCS slipped even further to hover just above $68 per barrel.
On Wall Street, the major components were more mixed. Moving up were Nike by 2.35%, AMD at 2.53%, Tesla up 3.26% and Netflix up 4.48% after recent earnings. Skidding were IBM at -9.56%, PayPal by -5.86% and Capital One at -4.36%. Beyond stocks, gold was flat, but Bitcoin tumbled 5.6% to around $62,600. Meanwhile, the U.S. 10-year yield continued to climb, reaching 1.682%, despite the ongoing rise in big tech stocks.
🛢 Suncor Energy Inc (SU-T) -2%
⛏ Denison Mines Corp (DML-T) -3.73%
🌿 OrganiGram Holdings Inc. (OGI-T) +2.38%
🌲 West Fraser Timber (WFG-T) -2.63%
📈 Stantec Inc (STN-T) +9.77%
👟 Nike Inc (NKE-N) +2.35%
💾 Advanced Micro Devices (AMD-Q) +2.53%
🚗 Tesla Motors Inc (TSLA-Q) +3.26%
📺 Netflix Inc. (NFLX-Q) +4.48%
💿 IBM (IBM-N) -9.56%
💳 PayPal Holdings Inc. (PYPL-Q) -5.86%
🏛 Capital One Financial Corp (COF-N) -4.36%
🅱 The Bitcoin Fund (QBTC.U-T) -5.6%