Tech gives back as Dow and TSX climb
After scoring strong gains to begin the year, tech stocks gave them back on Tuesday as the Nasdaq retreated 1.33%. However, the Dow rose 0.59% to a new record close of 36,799 while the S&P shed three points to finish flat for the day. After taking Monday off, the TSX returned to business and advanced 0.25%.
Giving back gains were Tesla and Twitter, down 4.18% and 4.24% respectively, Salesforce shed 2.83%, Microsoft moved down 1.71% and Apple retreated 1.27% just a day after touching a $3-trillion market cap. Beyond tech, UnitedHealth closed -2.27% and Walmart -1.83%. The banks continued to rally with Goldman Sachs surging 3% and Bank of America jumping nearly 4%. Across the border, TD rallied 2.44%, BMO added 3.58% while Manulife surged 3.28%.
Energy also helped lift the Toronto index as names like Whitecap Resources climbed 3%, Suncor leapt 4.74% and Cenovus rallied about 5%. In contrast, REITs including CAP REIT slid 2.43%, gold tumbled such as Yamana by 2.44% and Nutrien fell 4%. Tech weighed on the TSX as Shopify tanked 10.88%. WTI continued to march upwards, adding 1.15% to $77 per barrel while WCS rose 2% to $63.50. Cryptos had a relatively quiet day, down 0.7% to stay above $46,000 while the U.S. 10-year yield held around 1.64%.
🚗 Tesla Motors Inc (TSLA-Q) -4.18%
🐦 Twitter, Inc (TWTR-N) -4.24%
💨 SalesForce.com Inc. (CRM-N) -2.83%
Ⓜ Microsoft (MSFT-Q) -1.71%
🍎 Apple (AAPL-Q) -1.27%
👨⚕️ UnitedHealth Group Inc (UNH-N) -2.27%
🛒 Walmart Inc (WMT-N) -1.83%
🏛 Goldman Sachs (GS-N) +3%
🏛 Bank of America (BAC-N) +4%
🏛 Toronto Dominion (TD-T) +2.44%
🏛 Bank of Montreal (BMO-T) +3.58%
🏛 Manulife Financial (MFC-T) +3.28%
🛢 Whitecap Resources (WCP-T) +3%
🛢 Suncor Energy Inc (SU-T) +4.74%
🛢 Cenovus Energy (CVE-T) +5%
🏛 Canadian Apartment Properties (CAR.UN-T) -2.43%
🥇 Yamana Gold Inc. (YRI-T) -2.44%
🌿 Nutrien Ltd. (NTR-T) -4%
🛍 Shopify Inc. (SHOP-T) -10.88%
