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Spreadsheet
The trading week ended with the TSX advancing 0.46% to 21,807, but still retreating 0.4% over the week. Almost every sector rallied, led by staples, financials and utilities as technology lagged and health care was flat.
Major movers were Osisko Mining up 4.9% and Silvercrest Metals at 4.5% while the most influential names were Royal Bank up 0.79%, Enbridge 2.79% and TD at 1.31%. Gold inched up to US$2,388 an ounce while WTI advanced 0.6% to US$83.25.
Investors are accepting that both inflation and interest rates will decline slower than expected. Hardest hit are tech stocks as the Nasdaq sank 2.05% on Friday and over 6% over the week. The S&P shed 0.88% for the day and sank 3.5% over the week to close below 5,000. The Dow actually gained 0.56% during the session but slipped 0.23% for the week. Streamers dominated the headlines as Netflix closed the day -9.09% after reporting a beat but offering a soft forecast, though Paramount Global soared 13.4%. Also reporting was American Express which jumped 6.23%. The semis were hammered as Super Micro Computers plunged 23.14% and Intel sank 2.4%. The U.S. 10-year yield edged down to 4.625% as Bitcoin rose 1% to US$64,150. U.S. earnings season continues next week, highlighted by megatech.
⛏ Osisko Mining (OSK-T) +4.9%
⛏ SilverCrest Metals Inc (SIL-T) +4.5%
🏛 Royal Bank (RY-T) +0.79%
🛢 Enbridge (ENB-T) +2.79%
🏛 Toronto Dominion (TD-T) +1.31%
📺 Netflix Inc. (NFLX-Q) -9.09%
🎞 Paramount Global (PARA-Q) +13.4%
🏛 American Express (AXP-N) +6.23%
💾 Super Micro Computer (SMCI-Q) -23.14%
💾 Intel (INTC-Q) -2.4%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1%
