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Trudeau resigns, markets mixed

Allan Tong Posted On January 6, 2025
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As expected, Prime Minister Justin Trudeau announced his resignation Monday morning, and will stay in his role until the Liberals choose a new leader. The TSX closed on weakness, down 0.29% to fall below 25,000. Only three of 11 sectors were positive, led by energy, while staples, healthcare and materials led the laggards.

Notable names included CNQ up 1.36%, Aecon -5.73%, TC Energy -1.01%, Lundin Mining -4.22% and BlackBerry which soared 9.74% after announcing a collaboration with Microsoft. WTI crude declined 0.75% to US$74.30 while gold gave back US$6 to US$2,634. The Canadian dollar held at 70 cents against the USD.

Markets were a little stronger in New York as the S&P added 0.55% to nearly 6,000, the Nasdaq rallied 1.24%, though the Dow was essentially flat after shedding a handful of points. Major movers: Micron jumped 10.45%, Super Micro Computer 9.36%, Nvidia 3.43%, Intel -3.36% and Palantir -4.97%. Bitcoin returned to six digits after popping 3.6% to more than US$102,000 while the 10-year yield inched up to 4.62%.

🛢 Canadian Natural Rsrcs (CNQ-T) +1.36%

🧱 Aecon Group Inc (ARE-T) -5.73%

🛢 TC Energy (TRP-T) -1.01%

⛏ Lundin Mining Corp. (LUN-T) -4.22%

📱 BlackBerry (BB-T) +9.74%

💾 Micron Technology (MU-Q) +10.45%

💾 Super Micro Computer (SMCI-Q) +9.36%

💾 NVIDIA Corporation (NVDA-Q) +3.43%

💾 Intel (INTC-Q) -3.36%

💾 Palantir Technologies (PLTR-N) -4.97%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +3.6%

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