Stocks weaken on earnings and jobless data
Thursday saw disappointing earnings and higher than expected jobless numbers in the U.S. weaken markets. The S&P closed -0.6%, the Nasdaq -0.8%, and the Dow -0.33.
Tesla made headlines by announcing ongoing price cuts and shrinking margins, which led to shares sliding 10% in the session. AT&T revealed that revenues were down and sank 10.51%. Elsewhere, Ford closed -2.95%, Seagate -9.19%, though Nucor spiked 5.53%. The U.S. 10-year yield was 3.534%% while Bitcoin sank 2.4% to $28,100.
The TSX closed -0.34% with only industrials positive. All other sectors declined, led by energy. WTI crude slid 2.35% to $77 though gold held above $2,000. Notable movers including Chartwell Retirement up 2.88%, First Majestic Silver 2.52%, Shopify -2.21%, Tamarack Valley -4.49% and Methanex -4.55%.
🚗 Tesla Inc (TSLA-Q) -10%
📱 AT&T (T-N) -10.51%
🚘 Ford Motor (F-N) -2.95%
💾 Seagate Technology (STX-Q) -9.19%
⛓ Nucor Corp. (NUE-N) +5.53%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2.4%
🏠 Chartwell Seniors Housing (CSH.UN-T) +2.88%
🥈 First Majestic Silver (FR-T) +2.52%
🛍 Shopify Inc. (SHOP-T) -2.21%
🛢 Tamarack Valley Energy (TVE-T) -4.49%
🧫 Methanex Corp (MX-T) -4.55%
