Yo-yo markets close down again
Following the same pattern of recent days, markets rallied in the morning only to fall in the afternoon. Though the Dow closed down a few points, essentially flat, the S&P finished -0.54%, the Nasdaq -1.4% as tech led losses again and the TSX ended at a more modest -0.25%. The VIX slipped 3% Thursday, but was still above 30.
Healthcare and energy were strong as the company Dow popped over 5% and Merck rose 1.82%. Elsewhere, AstraZeneca gained 4.2%, ServiceNow jumped 9.14% and Netflix rebounded 7.51% after Bill Ackman revealed he bought on the recent dip. The semiconductor stocks tanked as Intel plunged over 7% and Nvidia slid 3%. Tesla slid 11.55% and Spotify fell 2% to 52-week lows after dumping Canadian legend Neil Young who challenged the company for allowing anti-vaccination lies to pollute its airwaves. The U.S. 10-year yield actually declined over 3% to 1.8% as Bitcoin fell 4% to $35,600.
The TSX saw energy stocks rise yet again, though materials were weak. Big gainers in Toronto were Stelco up 8.14%, Celestica 6.4%, Metro 3.57% and Rogers 3.32%. Losers included Lightspeed at -6.13%, Aurora Cannabis -6.05% and Shopify -5.55% which has fallen by half from its all-time peak. Amid Russian threats of invading Ukraine, WTI crude declined 0.37% to $87 though WCS rose 0.6% to top $74.
👨⚕️ Merck & Company (MRK-N) +1.82%
💉 Astrazeneca P L C (AZN-N) +4.2%
💾 Servicenow (NOW-N) +9.14%
📺 Netflix Inc. (NFLX-Q) +7.51%
💾 Intel (INTC-Q) -7%
💿 Nvidia Corp (NVDA-Q) -3%
🚗 Tesla Motors Inc (TSLA-Q) -11.55%
💻 Spotify Technology SA (SPOT-N) -2%
🅱 Bitcoin Cash (CRYPTO:BCH) -4%
⛓ Stelco Holdings Inc. (STLC-T) +8.14%
🧬 Celestica Inc (CLS-T) +6.4%
🍱 Metro Inc (A) (MRU-T) +3.57%
📱 Rogers Communications (B) (RCI.B-T) +3.32%
💾 Lightspeed Commerce Inc (LSPD-T) -6.13%
🌿 Aurora Cannabis (ACB-T) -6.05%
🛍 Shopify Inc. (SHOP-T) -5.55%