US-China tensions weigh on markets
Nancy Pelosi’s visit to Taiwan and China’s announcement of missile tests rattled markets on Tuesday and pressured stocks. The TSX shed nearly 1% and finished weak. Similarly in New York, the S&P closed -0.66%, the Nasdaq -0.16% and the Dow -1.22%.
Among the gainers was Airbnb which reported a beat and shares jumped 5%. AMD rose 2.61%, Carnival climbed 4.82%, and Penn National Gaming rallied 4.75%. Falling were Intel at -2.57%, Bank of American -1.99%, Caterpillar -5.82% and Molson Coors -10.46%. The U.S. 10-year yield touched 2.761% while Bitcoin was flat right below $23,000.
It was also quiet in crude oil as WTI inched above $94 a barrel and WCS moved to $75. In Toronto, only tech and healthcare were in the green. Materials, real estate and energy were particularly weak. Losers included Lundin Mining -6.93%, First Quantum Minerals -8.25% and Hudbay Minerals -7.71%. Winners: Shopify popped nearly 9%, Canopy grew 8.85% as did other cannabis stocks, and Lightspeed rallied 5.82%.
🧳 Airbnb (ABNB-Q) +5%
💾 Advanced Micro Devices (AMD-Q) +2.61%
🚢 Carnival Corp. (CCL-N) +4.82%
♠ Penn National Gaming Inc (PENN-Q) +4.75%
💾 Intel (INTC-Q) -2.57%
🏛 Bank of America (BAC-N) -1.99%
🏗 Caterpillar (CAT-N) -5.82%
🍺 Molson Coors Brewing Company (TAP-N) -10.46%
⛏ Lundin Mining Corp. (LUN-T) -6.93%
⛏ First Quantum Minerals (FM-T) -8.25%
⛏ Hudbay Minerals Inc. (HBM-T) -7.71%
🛍 Shopify Inc. (SHOP-T) +9%
🌿 Canopy Growth Corp. (WEED-T) +8.85%
💾 Lightspeed Commerce Inc (LSPD-T) +5.82%
