Stocks sink as yield and oil rise
The trading week began in the red with the S&P closing -0.85%, the Nasdaq -0.92%, The Dow -0.77% and the TSX -0.87%. Iran rejected Trump’s latest demands to open the Strait of Hormuz, sending WTI 0.5% higher by the end of the session to US$92.90. Meanwhile, the U.S. 10-year yield jumped to 5.234% to reach another 52-week high.
Sectors were mixed on the TSX with modest gains in discretionary, but heavy selling in materials. Gold tumbled 3.8% to US$4,120 while silver plunged 5.6% to US$60.55. Major movers on Bay Street: BlackBerry 8.12%, Gildan 4.19%, Lundin Gold -6.18%, BCE -1.68% and Barrick Mining -4.15%. On Wall Street: Palo Alto 4.63%, Intel -5.67%, Tesla -3.94%, DoorDash -7.74% and Qualcomm -7.17%. Meanwhile, Bitcoin slid 1.3% to US$83,435.
📱 BlackBerry (BB.TO) +8.12%
👕 Gildan Activewear Inc. (GIL.TO) +4.19%
🥇 Lundin Gold Inc. (LUG.TO) -6.18%
📱 BCE Inc. (BCE.TO) -1.68%
⛏ Barrick Mining (ABX.TO) -4.15%
💾 Palo Alto Networks (PANW) +4.63%
💾 Intel (INTC) -5.67%
🚗 Tesla Inc (TSLA) -3.94%
🛫 Doordash (DASH) -7.74%
🧬 Qualcomm (QCOM) -7.17%
🅱 Bitcoin (BTCUSD) (BTC-USD) -1.3%
