Strong earnings and Mideast optimism extend gains
Another day of earnings beats and hopes that the US-Israel-Iran war will soon end continued to push stocks higher while WTI retreated further. The S&P finished the session up 1.46%, the Nasdaq 2.02%, the Dow 1.24% and the TSX 1.24% to nearly 34,000. Hopes for peace pressured WTI 6.5% lower to US$95.55 and slammed energy names such as Coterra, down 8.62%. However, some big names beat earnings, namely Super Micro Computer which soared 24.54%. Other chip names rallied: Nvidia 5.77%, Intel 4.49% and AMD 18.61%. Meanwhile, Bitcoin held steady around US$81,465, while the U.S. 10-year yield slipped to 4.35%.
In contrast, silver popped 6.45% to US$77.40 and gold edged up US$135 to US$4,690 as materials led the TSX. Healthcare and financials also had a good session, while energy stocks plummeted. Key names: Sprott leapt 19.77%, Telus rose 2.15% as the most active name, Americas Gold & Silver jumped 17.48% while Cenovus slid 4.87% and Vermilion Energy tumbled 12.93%.
🛢 Coterra Energy Inc. (CTRA-N) -8.62%
💾 Super Micro Computer (SMCI-Q) +24.54%
💾 NVIDIA Corporation (NVDA-Q) +5.77%
💾 Intel (INTC-Q) +4.49%
💾 Advanced Micro Devices (AMD-Q) +18.61%
🏛 Sprott Inc. (SII-T) +19.77%
📱 Telus Corp (T-T) +2.15%
⛏ U.S. Silver Corp. (USA-T) +17.48%
🛢 Cenovus Energy (CVE-T) -4.87%
🛢 Vermilion Energy Inc (VET-T) -12.93%
