U.S markets close down for the week, TSX steadier
Markets finished another negative week on the downside Friday. The prospect of the Russian invasion of Ukraine dragging on weighed on investor sentiment against a backdrop of hot inflation. The U.S. will likely raise interest rates on Monday. The S&P closed Friday -1.29%, the Nasdaq -2.18% and the Dow -0.7%. The S&P lost nearly 3% for the week and the Nasdaq shed 3.6%.
Wall Street gainers were hard to find, but they included Pfizer up 2.38%, Deere by 3.35% and Valero Energy up 2.32%. Laggards included Etsy at -11.5%, Las Vegas Sands -5.65%, DocuSign -20.1% after earnings, Snowflake -8.81% and Apple at -2.39% and near its 200-day moving average. The U.S. 10-year yield remained at 1.99% and gold held just under $2,000. Bitcoin slipped 1.6% to fall below $39,000.
Ottawa announced strong Canadian employment numbers Friday. The TSX closed -0.5%, relatively better than its American peers. A mild rise in crude oil helped as WTI added 3% to $109 a barrel and WCS rose to more than $96. Real estate and telcos also rallied, while remaining sectors fell. Big movers were Bombardier rising 3%, Denison Mines at -6.28%, Granite REIT up 4.12%, Parkland up 2.88%, Lightspeed -7.18% and Lithium Americas -5.95%. Given the boom in resources, the TSX shed only 0.38% for the week.
💉 Pfizer Inc (PFE-N) +2.38%
🦌 Deere & Co. (DE-N) +3.35%
🛢 Valero Energy Corp (VLO-N) +2.32%
🛍 Etsy Inc. (ETSY-Q) -11.5%
♠ Las Vegas Sands Corp. (LVS-N) -5.65%
🖋 Docusign (DOCU-Q) -20.1%
❄ Snowflake (SNOW-N) -8.81%
🍎 Apple (AAPL-Q) -2.39%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.6%
🚂 Bombardier Inc (B) (BBD.B-T) +3%
⛏ Denison Mines Corp (DML-T) -6.28%
🏛 Granite REIT (GRT.UN-T) +4.12%
🛢 Parkland Fuel Corp (PKI-T) -2.88%
💾 Lightspeed Commerce Inc (LSPD-T) -7.18%
⛏ Lithium Americas Corp (LAC-T) -5.95%