Tech rises, TSX sinks
Wall Street returned from holidays to post gains in tech as the AI craze continues, though reacted mildly after Washington proposed an end to the debt ceiling crisis. The Nasdaq rose 0.32% past 13,000 though was trading higher earlier on Tuesday. The S&P was flat as the Dow shed 0.18%.
Nvidia gained another 2.91% as it continued to rally from last week’s blockbuster earnings. Tesla added 4.15% as the heaviest-traded stock, AMD closed -1.29% and Target -3.61%. Ford posted a 4.43% gain. The U.S. 10-year yield slipped to 3.681% while Bitcoin climbed 0.4% to $27,800.
All TSX sectors were down, led by consumer staples, materials and energy as fears of a wider slowdown weighed on commodity prices. WTi slumped 4% below $70. The TSX closed Tuesday -1.14%. Trading the most hands were Suncor at -1.37% and Enbridge at -1.2%. Similarly, Vermilion Energy closed -5.41% and Canopy -5.69%. However, Canadian Western Bank rallied 3.26% on an upgrade.
💾 NVIDIA Corporation (NVDA-Q) +2.91%
🚗 Tesla Inc (TSLA-Q) +4.15%
💾 Advanced Micro Devices (AMD-Q) -1.29%
🛒 Target Corp (TGT-N) -3.61%
🚘 Ford Motor (F-N) +4.43%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +0.4%
🛢 Suncor Energy Inc (SU-T) -1.37%
🛢 Enbridge (ENB-T) -1.2%
🛢 Vermilion Energy Inc (VET-T) -5.41%
🌿 Canopy Growth Corp. (WEED-T) -5.69%
🏛 Canadian Western Bank (CWB-T) +3.26%