Stocks sink to end a week of losses
The Grinch hit markets this week, driven by hawkish U.S. Fed comments and lingering pessimism about a recession in the new year. The S&P closed Friday -1.12%, or -2.21% for the week, below 3,900, the Nasdaq -0.97% Friday and -2.81% for the week, and the Dow -0.82% and nearly -2% below 33,000. It was another day of red across screens, especially in real estate and consumer discretionary.
Tesla extended its losing streak by shedding another 4.4%. Ford closed -7.02%, Moderna -7.11% and Pfizer -3.58%, though Meta rallied 2.78%. The U.S. 10-year yield came in at 3.486% whole Bitcoin slid nearly 3% below $17,000.
The TSX closed -0.9% Friday and was down 2% for the week below 19,500. The only positive sectors were staples and materials. Enghouse leapt 9.55% and Barrick Gold added 1.67% in heavy trading, but energy and utilities struggled, like Suncor at -1.82%, CNQ -3.36% and Algonquin Power -5.14%.
🚗 Tesla Motors Inc (TSLA-Q) -4.4%
🚘 Ford Motor (F-N) -7.02%
💉 Moderna (MRNA-Q) -7.11%
💊 Pfizer Inc (PFE-N) -3.58%
🕵️♂️ Meta Platforms Inc / Facebook (META-Q) +2.78%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -3%
💾 Enghouse Systems (ENGH-T) +9.55%
🥇 Barrick Gold (ABX-T) +1.67%
🛢 Suncor Energy Inc (SU-T) -1.82%
🛢 Canadian Natural Rsrcs (CNQ-T) -3.36%
💡 Algonquin Power & Utilities Corp (AQN-T) -5.14%
