War drags stocks down for day and week
The ongoing US-Israel-Iran war pushed markets down on Friday and for the week as oil tanker traffic remains halted through the Strait of Hormuz. For the session, the S&P closed -0.61%, the Dow -0.26%, the Nasdaq -0.93% and the TSX -0.91%. For the week, the S&P fared -1.6%, the Dow -2%, the Nasdaq -1.25% and the TSX -1.65%. WTI popped over 3% to US$98.65 while silver fell over 4% to US$80.30 and gold slipped 1.25% to US$5,015.
On Bay Street, seven sectors were positive, led by staples and real estate, but heavy losses in materials outweighed those gains. Key names: Empire 3.89%, B2Gold -4.46%, Bird Construction 3.78%, Air Canada -3.1% and Methanex -10.16%. In New York: Sandisk 6.92%, Ford -3.07%, Nvidia -1.58%, Ulta Beauty -14.28% and Adobe -7.58% after reporting an earnings beat but also the resignation of its CEO. Bitcoin added 1.8% to US$71,450 while the U.S. 10-year yield held at 4.283%.
🍱 Empire Company (A) (EMP.A-T) +3.89%
🥇 B2Gold Corp. (BTO-T) -4.46%
🧱 Bird Construction Income Fund (BDT-T) +3.78%
🛫 Air Canada (AC-T) -3.1%
🧫 Methanex Corp (MX-T) -10.16%
💾 Sandisk Corp (SNDK-Q) +6.92%
🚘 Ford Motor (F-N) -3.07%
💾 NVIDIA Corporation (NVDA-Q) -1.58%
💄 Ulta Salon Cosmetics and Fragrance Inc. (ULTA-Q) -14.28%
💾 Adobe Systems (ADBE-Q) -7.58%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1.8%
