U.S markets close down for the week, TSX steadier
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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%