Stockchase At the CloseAnd the National Bank upgrade is notable because they downgraded just about every other company within their coverage this week. GLTA
Stocks drifted south on Friday, but still ended the week positive. The S&P closed -0.93% but rose around 2.5% for the week. The Nasdaq finished -1.87% but has climbed 7% so far this month. Meanwhile, the Dow closed -0.43% but was up nearly 2% this week. On Wall Street, utilities and real estate rallied while communications and tech lagged.
Amid earnings season, Snap came out with a bad miss and shares plunged 39%. Snap dragged down tech stocks as Meta slid 7.59% and Alphabet fell 5.81%. Also down was Seagate by 8.11%, Carnival lost 6% and Verizon fell 6.74%. In contrast, Schlumberger rose 4.28% and DR Horton2.06%. The U.S. 10-year yield slipped to 2.76% as Bitcoin retreated 2% to below $22,600.
Crude oil slipped about 2% as WTI traded down to $95 and $74 respectively. Besides energy, tech also lagged in Toronto though real estate climbed. The TSX shed -0.43% for the day, but climbed from 18,394 a week ago to just shy of 19,000 on Friday. Major gainers were High Liner Foods up 8.28%, Mullen Group 6.25%, Boardwalk REIT at 4.24% and CAP REIT up 3.39%. Cannabis continued to give back gains from earlier this week as Aurora slid over 8%. Shopify lost 7.28% and Crescent Point fell 2.62%.