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Spreadsheet
The trading week began in the red as major averages in New York and Toronto sank into the red. Fears of the U.S. Fed’s Jay Powell announcing a hawkish interest rate hike later this year triggered a steep sell-off on Wall Street. The S&P closed -2.13%, the Nasdaq -2.55%, and the Dow -1.97% but stayed above 33,000.
Consumer discretionary and tech were the worst-hit with Apple sinking 2.29%, semis like Intel down 4.35%, Netflix falling over 6% and Amazon slipping 3.77%. Also, Ford lost 5.13% and Warner Bros. Discovery sank 7.43%. The U.S. 10-year yield returned returned to 3% as Bitcoin shed 2% but stayed above $21,000.
The TSX closed -0.81% and fell below 20,000. Only energy and materials were in the green. Exchanging the most hands were the lifecos as Manulife fell 4.18% and Sun Life slipped 1.77%. Also losing were auto-parts dealers Magna at -6.49% and Linamar -6.41%. However, Vermilion jumped 5% and Birchcliff Energy rallied 3.11%. Oil made the headlines as Iran and the West race to strike a deal that would flow Iran to sell oil again. However, OPEC+ said it would cut production in order to boost the flagging price.
🍎 Apple (AAPL-Q) -2.29%
💾 Intel (INTC-Q) -4.35%
📺 Netflix Inc. (NFLX-Q) -6%
📦 Amazon.com (AMZN-Q) -3.77%
🚘 Ford Motor (F-N) -5.13%
📺 Warner Bros. Discovery (WBD-Q) -7.43%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2%
🏛 Manulife Financial (MFC-T) -4.18%
🏛 Sun Life Financial Inc (SLF-T) -1.77%
🚗 Magna Int’l. (A) (MG-T) -6.49%
🚗 Linamar Corp (LNR-T) -6.41%
🛢 Vermilion Energy Inc (VET-T) +5%
🛢 Birchcliff Energy Ltd. (BIR-T) +3.11%
