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Ongoing fears that Russia will invade Ukraine continued to drive markets lower on Friday. Add to this ongoing concerns that the U.S. Fed will soon hike interest rates. The S&P closed -0.72% (down 1.5% for the week), the Nasdaq -1.23% and the Dow -0.68%.
Among the few gainers were Ford up 2.85%, Dollar Tree 5.22% and Cisco at 2.58%. Notable laggards included Adobe at -3.31%, Intuit -3.02%, Deere -3% and Nvidia -3.53%. Even though tech took a drubbing, the U.S. 10-year yield also declined, slipping to 1.918%. Cryptos didn’t fare better as Bitcoin slid 2.44% below $40,000.
The TSX closed -0.81% for the day and -1.7% for the week to stay barely above 21,000. Every sector closed in the red, especially consumer staples, energy and materials. Among the few gainers were airlines Air Canada, up 3.13% and Chorus Aviation by 2.76%, as well as Pizza Pizza delivering a 5.46% gain and Yamana Gold at 2.12%. Losing ground were Bombardier at -4.14%, Tamarack Valley Energy -3.88%, Baytex -3.97% and Crescent Point Energy -3.74%. Even crude oil didn’t escape the bearish sell-off: WTI slipped 0.21% to trade around $91.60 and WCS lost a more modest 0.14% to $77.36. Investors will keep an eye on the Russian-Ukraine border this long weekend.
🚛 Ford Motor (F-N) +2.85%
🌲 Dollar Tree (DLTR-Q) +5.22%
📡 Cisco (CSCO-Q) +2.58%
💾 Adobe Systems (ADBE-Q) -3.31%
💿 Intuit Inc. (INTU-Q) -3.02%
🦌 Deere & Co. (DE-N) -3%
💾 Nvidia Corp (NVDA-Q) -3.53%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2.44%
🛫 Air Canada (AC-T) +3.13%
✈ Chorus Aviation Inc (CHR-T) +2.76%
🍕 Pizza Pizza Royalty (PZA-T) +5.46%
🥇 Yamana Gold Inc. (YRI-T) +2.12%
🚂 Bombardier Inc (B) (BBD.B-T) -4.14%
🛢 Tamarack Valley Energy (TVE-T) -3.88%
🛢 Baytex Energy Corp (BTE-T) -3.97%
🛢 Crescent Point Energy Corp (CPG-T) -3.74%
