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TSX and oil up, Bitcoin down

Allan Tong Posted On June 8, 2021
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On Tuesday, the TSX closed at a new record high of 20,078 after climbing 0.21%. A big factor was the price of WTI crude which advanced 1.44% to top $70 per barrel and WCS which rose nearly 1.5%. Industrials and energy led the Toronto rally while materials lagged.

Notable gainers were CAE up 5%, Aritizia at 4.78% and Precision Drilling in another strong session up 6.21%. Ottawa signaled that it will make it easier for Canadians with two Covid vaccine shots to travel, which helped raise the airline stocks: Air Canada soared 6.31% and Chorus Aviation 2.45%. Losing altitude were Spin Master at -4.51% and Western Copper and Gold at -3.7%.

In New York, the Dow finished -0.09% though the S&P barely closed in the positive, while the Nasdaq rose 0.31%. Tech names enjoyed a prosperous session as Amazon rallied 2% and Marvell Technology 5.1%. The Reddit-meme trade endured as Bed, Bath & Beyond jumped 8.39%. Darden Restaurants delivered a 2.53% gain, though Moderna slipped 3%. Like Toronto, New York saw industrials and energy rally though healthcare lagged. Performing even worse were the cryptos. Bitcoin tanked 8% to fall below $33,000 after the FBI announced it had recovered most of the Bitcoin ransom from the Colonial hack. Meanwhile, gold dipped below $19,000 per ounce while the US 10-year declined 2.59% to 1.528%.

🛫 CAE Inc +5%
👗 Aritzia Inc. +4.78%
🏗 Precision Drilling +6.21%
🛫 Air Canada +6.31%
🛫 Chorus Aviation Inc +2.45%
🧸 Spin Master Corp -4.51%
⛏ Western Copper -3.7%
📦 Amazon.com +2%
🧬 Marvell Technology Group +5.1%
🛏 Bed Bath & Beyond +8.39%
🍲 Darden Restaurants +2.53%
💉 Moderna -3%
🅱 The Bitcoin Fund -8%

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