Tech, oil and jitters pressure markets
Stocks across the board closed lower to end a week itself marked by gradual declines. In Canada, lower oil prices and expectations of a minority government of either the Liberals or Tories dampened the TSX which declined 0.54%. Industrials were the only sector that showed any gains while staples and energy led the sell-off.
Big movers were Birchcliff Energy down 4.34%, and CNQ and Alimentation Couche-Tard both sliding 3%. CN was a rare bright spotting, gaining 2.36%. Similarly, Ballard Power surged over 5% and AutoCanada advanced 4%.The price of WTI and WCS crude both gave back 1% to fall below $72 and $60 per barrel respectively.
Wall Street ended a choppy week marked by strong consumer data, corporate tax hike concerns and Delta variants worries to close markedly down. The Dow shed half-a-percent while the Nasdaq and S&P both closed -0.91%. On the Dow, healthcare was mixed while the other major sectors, including industrials and consumer, showed weakness. Dow closed -2.89%, Microsoft -1.75% and Apple -1.83%. However, Thermo-Fisher soared 6.49%, Diamondback Energy jumped 3.18% and Beyond Meat climbed 4.34%. Meanwhile, both gold and Bitcoin were flat.
🛢 Birchcliff Energy Ltd. -4.34%
🛢 Canadian Natural Rsrcs -3%
🍱 Alimentation Couche-Tard (B) -3%
🚂 Canadian National R.R. +2.36%
🔋 Ballard Power Systems +5%
🚗 AutoCanada Inc. +4%
Ⓜ Microsoft -1.75%
🍎 Apple -1.83%
🧬 Thermo Fisher Scientific +6.49%
⚡ Diamondback Energy +3.18%
🥩 Beyond Meat Inc. +4.34%
