TSX rebounds, Nvidia corrects
The week started differently between Canadian and American markets. Lagging Wall Street this year, the TSX rebounded Monday by 1.28% as all sectors but tech rallied. Staples, energy, financials and utilities enjoyed outsized gains.
Most active were energy names TC Energy, up 1.29%, and Suncor by 3.03%. The banks showed some life as CIBC rose 1.71% and TD 1.93%. Meanwhile, First Quantum Minerals popped 6.13%. Gold added US$11 to US$2,333 while WTI crude climbed US$1 to US$81.70.
Trading was mixed on Wall Street. The Dow advanced 0.73%, but the S&P sank nine points and the Nasdaq slid 0.87%. Weighing on the indices was another sell-off by Nvidia which sank 6.04% to put it in correction territory. Similarly, Super Micro Computer fell 8.66%. However, Microsoft made an intraday high today. Elsewhere, Mosaic rallied 5.05%, Ford rose 3.42% and energy rose with Devon up 4.54%. Meanwhile, the U.S. 10-year-yield held around 4.248% as Bitcoin tanked 5.5% to US$59,800.
🛢 TC Energy (TRP-T) +1.29%
🛢 Suncor Energy Inc (SU-T) +3.03%
🏛 Canadian Imperial Bank of Commerce (CM-T) +1.71%
🏛 Toronto Dominion (TD-T) +1.93%
⛏ First Quantum Minerals (FM-T) +6.13%
💾 NVIDIA Corporation (NVDA-Q) -6.04%
💾 Super Micro Computer (SMCI-Q) -8.66%
🌿 Mosaic Company (The) (MOS-N) +5.05%
🚘 Ford Motor (F-N) +3.42%
🛢 Devon Energy Corp (DVN-N) +4.54%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -5.5%
