Stocks sink ahead of Nvidia earnings

There was broad-based selling in Toronto and New York ahead of tech giant, Nvidia, reporting its quarter after the Wednesday session. The TSX sank 0.56% as CNQ closed -0.91% as the most-traded name, Kinaxis -14.54% and Ivanhoe Mines -5.58%. However, bank earnings continued with two names beating: National Bank jumped 5.86% and Royal Bank made an all-time high by adding 2.18%. Gold gave back US$16 to US$2,508 while WTI crude declined 1% to US$74.70.

On Wall Street, the S&P closed at -0.59%, the Dow -0.39% and the Nasdaq -1.12%. Major movers: SMCI -18.87%, Bath & Body Works -6.96% and J M Smucker -4.75%. Once more, Nvidia was the most popular name at -1.59% as the street eagerly awaited its earnings. NVDA reported modest top and bottom line beats, but shares sank as much as 7% immediately after the report but before the call. Meanwhile, Bitcoin sank 4.6% to US$59,000, while the U.S. 10-year yield hovered around 3.839%.

🛢 Canadian Natural Rsrcs (CNQ-T) -0.91%

💾 Kinaxis Inc (KXS-T) -14.54%

⛏ Ivanhoe Mines Ltd (IVN-T) -5.58%

🏛 National Bank of Canada (NA-T) +5.86%

🏛 Royal Bank (RY-T) +2.18%

🧬 Super Micro Computer (SMCI-Q) -18.87%

👞 Bath & Body Works (BBWI-N) -6.96%

🍭 J. M. Smuckers Co. (SJM-N) -4.75%

💾 NVIDIA Corporation (NVDA-Q) -1.59%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -4.6%