Tech earnings lead market decline
Thursday saw another session of red flashing across traders’ screens as earnings season ground on. Meta grabbed headlines with a top and bottom line beat, but a conservative Q4 forecast triggered shares to decline by -3.73%. Meanwhile, Hasbro sank -11.65% on a similar outlook, Align Technology plunged nearly -25% and Whirlpool slid -15.83% though Newmont gained about 2% as the most-traded stock. The S&P closed -1.18%, the Nasdaq -1.76%, and the Dow -0.76% to fall below 33,000. The U.S. 10-year yield edged down to 4.842% as Bitcoin slipped 1% to $34,100.
The TSX fared better, losing only 0.38%. Sectors were mostly negative, led by industrials and tech, but financials and utilities bounced back after recent losses. Key movers were Celestica at -10.27%, Whitecap Resources -4.72%, StorageVault leapt 11.79%, Allied Properties REIT popped 6.82% and Stelco rallied 5.02%. WTI declined over 2% to $83.50 a barrel.
Meta (META-Q) -3.73%
Hasbro (HAS-Q) -11.65%
Align Technology (ALGN-Q) -25%
Whirlpool (WHR-N) -15.83%
Newmont (NGT-T) +2%
Bitcoin (BTC) -1%
Celestica (CLS-T) -10.27%
Whitecap Resources (WCP-T) -4.72%
StorageVault (SVI-T) +11.79%
Allied Properties REIT (AP.UN-T) +6.82%
Stelco (STLC-T) +5.02%