Wall Street ends winning streak

Allan Tong Posted On June 14, 2024

Friday saw the Nasdaq holding its record high, but failing to advance while the S&P slipped 0.16% from its own high. For the week, however, these indices gained 3.25% and 1.58% respectively, driven by AI stocks. In fact, Adobe delivered top and bottom line beats and offered a upbeat forecast, driven by its artificial intelligence business. Shares soared 14.49% after plunging the previous quarter. Elsewhere, Hasbro rallied 5.99% and juggernaut Nvidia advanced another 1.71%. However, Norwegian Cruise Line finished -7.37% and Tesla -2.33% though shareholders elected to give Elon Musk a payday. The Dow slipped 0.28% on Friday and 0.54% over the week. The U.S. 10-year yield declined to 4.211% and Bitcoin sank 1.75% to US$65,500.

The TSX extended losses by 0.47% on Friday and slid 1.67% for the week. Only tech rallied and staples led all other sectors down. Shopify added 4.56%, but BCE closed -2.19%, BlackBerry -6.92%, Ballard Power -4.57% and Alimentation Couche-Tard -3.78%. Gold retreated US$21 to US$2,300 as WTI held at US$78 a barrel. Gold climbed US$28 to US$2,332, while WTI held at US$78.55 a barrel.

💾 Adobe Systems (ADBE-Q) +14.49%

🧩 Hasbro Inc (HAS-Q) +5.99%

💾 NVIDIA Corporation (NVDA-Q) +1.71%

🚢 Norwegian Cruise Line Holdings (NCLH-N) -7.37%

🚗 Tesla Inc (TSLA-Q) -2.33%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.75%

🛍 Shopify Inc. (SHOP-T) +4.56%

📱 BCE Inc. (BCE-T) -2.19%

📱 BlackBerry (BB-T) -6.92%

🧬 Ballard Power Systems (BLDP-T) -4.57%

🍱 Alimentation Couche-Tard (ATD-T) -3.78%