Stocks sell off, led by tech
Recent days of gains may have triggered investors to take profits on Thursday as stocks, starting with tech, sold off. The session ended on weakness, leaving the Nasdaq at -2.57%, the Dow -0.49% and the S&P -1.42%. Notably, the U.S. 10-year yield did not rise as tech fell. In fact, the yield dipped below 1.7% by the closing bell. The Dow components were largely mixed, with industrials leading.
Boeing added nearly 3%, travel names like American Airlines climbed 4.54%, Ford rose 2.25% and Biogen jumped 5%. However, Microsoft closed -4.23%, Salesforce -3.87%, Nvidia -5.09% and Tesla -6.75%.
In Toronto, the TSX had to contend with declining oil prices as WTI sank around 1.5% to $81.50 a barrel and WCS retreated nearly 3% to below $68. The Toronto index fell half-a-percent though tech and materials fared worse than energy stocks. Financials and industrials enjoyed modest gains. Crescent Point Energy shed nearly 5%, Baytex lost 3.79% and Denison Mines slid 4.49%. Heading up were CNQ by almost 2%, Corus soared 6%, Linamar advanced nearly 4% and Sleep Country added 3.76%. Meanwhile, Bitcoin fell 2.5% to around $42,700.
🛫 Boeing (BA-N) +3%
✈ American Airlines Group (AAL-Q) +4.54%
🚘 Ford Motor (F-N) +2.25%
🧫 Biogen IDEC Inc. (BIIB-Q) +5%
Ⓜ Microsoft (MSFT-Q) -4.23%
💨 SalesForce.com Inc. (CRM-N) -3.87%
💾 Nvidia Corp (NVDA-Q) -5.09%
🚗 Tesla Motors Inc (TSLA-Q) -6.75%
🛢 Crescent Point Energy Corp (CPG-T) -5%
🛢 Baytex Energy Corp (BTE-T) -3.79%
⛏ Denison Mines Corp (DML-T) -4.49%
🛢 Canadian Natural Rsrcs (CNQ-T) +2%
📡 Corus Entertainment (B) (CJR.B-T) +6%
🚙 Linamar Corp (LNR-T) +4%
🛏 Sleep Country Canada (ZZZ-T) +3.76%
🅱 Bitcoin Cash (CRYPTO:BCH) -2.5%
