Stocks sink ahead of tech earnings and Fed
The trading week began on a dour note as markets in Toronto and New York sank ahead of major tech earnings and the U.S. Fed’s latest interest rate announcement later this week. Fear or profit-taking crept into the stock market as the S&P closed -1.3%, the Nasdaq -1.96%, and the Dow -0.77%.
Changing hands at high volume were Tesla at -6.32% and Apple -2.01%. Other notable names were Moderna at -4.48%, Devon Energy -4.49% and Nvidia at -5.91%. The U.S. 10-year yield crept up to 3.54% while Bitcoin sank over 4% to fall below $23,000.
On Bay Street, only telcos were rallied while all other sectors fell, especially energy and tech. The TSX closed -0.69%. Biggest movers were Manulife at -0.15% and TD at -0.84%. Other notables were Athabasca Oil gaining 2.97%, Peyto -6.53% and Bausch Health at -6.01%. WTI didn’t escape the sell-off, and sank 2.5% below $78.
🚗 Tesla Motors Inc (TSLA-Q) -6.32%
🍎 Apple Inc (AAPL-Q) -2.01%
💉 Moderna (MRNA-Q) -4.48%
🛢 Devon Energy Corp (DVN-N) -4.49%
💾 Nvidia Corp (NVDA-Q) -5.91%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -4%
🏛 Manulife Financial (MFC-T) -0.15%
🏛 Toronto Dominion (TD) (TD-T) -0.84%
🛢 Athabasca Oil Sands Corp (ATH-T) +2.97%
🛢 Peyto Exploration & Develop. (PEY-T) -6.53%
👨⚕️ Bausch Health Companies Inc (BHC-N) -6.01%
