Tech leads Wall Street to fresh highs (again)
Once more, tech lead American indices to new highs to cap the week. The S&P closed above 5,000 for the first time, the Nasdaq hit a new 52-week high just shy of 16,000 while the Dow declined 0.21%. For the week, the S&P rose 1.37%, the Nasdaq 2.3% and the Dow as flat.
Microsoft gained 1.56% to reach a new high of $420.55 while Nvidia rose 3.58% to another high. PayPal regained 4.97%. Earnings continued to dominate. Cloudflare soared 19.5% on a beat, but Expedia sank 17.73% and Take-Two Interactive tumbled 8.66% after their reports. Even as tech stocks rose, the U.S. 10-year yield edged up to 4.156%, though Bitcoin did jump 4.7% to $47,400. Partially feeding market sentiment was December CPI data revised to a 0.2% increase over the month instead of 0.3%.
In Canada, the TSX returned to 21,000 as it advanced 0.43% Friday, though still shed 0.36% for the week. Most sectors were up, led by tech and financials though discretionary lagged. Major movers were Bombardier jumping 8.48%, Telus 2.96% which reported a day after rival Bell sank on their own earnings, Kinross Gold -3.07%, Bank of Nova Scotia up 2.51% and Magna -6.74%. WTI crude rallied nearly 3% to $76 a barrel
Ⓜ Microsoft Corp (MSFT-Q) +1.56%
💾 NVIDIA Corporation (NVDA-Q) +3.58%
🛍 PayPal Holdings Inc. (PYPL-Q) +4.97%
💾 Cloudflare (NET-N) +19.5%
✈ Expedia (EXPE-Q) -17.73%
💾 Take-Two Interactive Softwar (TTWO-Q) -8.66%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +4.7%
🚂 Bombardier Inc (B) (BBD.B-T) +8.48%
📱 Telus Corp (T-T) +2.96%
🥇 Kinross Gold (K-T) -3.07%
🏛 Bank of Nova Scotia (BNS-T) +2.51%
🚗 Magna Int’l. (A) (MG-T) -6.74%