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Stockhouse @ the Bell: TSX Down; Major North American Markets Follow Suit

Stockhouse Editorial
4 Comments| January 10, 2022

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Canada's main stock index stumbled out of the blocks Monday as a spike in U.S. Treasury yields fueled investor concerns about the prospect of higher interest rates. Technology stocks fell 2.3%, and were on track for its sixth-consecutive session in losses mirroring weakness in U.S. tech-heavy Nasdaq index.

One bright spot was cannabis licensed producer (LP) Tilray Inc., which jumped over 12% and was the largest percentage gainer on the index, after the Canadian cannabis producer reported profitable Q2 2022 financial results.

Today in the Markets

TSX 21,072.32 -12.13 Click to enlarge
TSXV 898.45 -13.01 Click to enlarge
CSE 515.13 -2.97 Click to enlarge
DJIA 36,068.87 -162.79 Click to enlarge
NASDAQ 14,942.83 +6.93 Click to enlarge
S&P 500 4,670.29 -6.74 Click to enlarge

The Canadian dollar traded for cents U.S. compared with 78.82 cents U.S. on 79.06 Friday.

Crude oil prices were down 0.60 to $78.30.

The price of gold was up 3.00 to $1,800.40.

In world markets, the Nikkei was closed for Coming of Age Day, the Hang Seng was up 253.16 points to 23,746.54, the FTSE was down 40.03 points to 7,445.25, and the DAX was down 179.47 points to 15,768.27.

Top 10 Bullboards

Company Ticker Views
Theralase Technologies Inc. V.TLT 7912
Ivanhoe Mines Ltd. - Class A T.IVN 5666
Tilray Inc. TLRY 5386
Datametrex AI Ltd V.DM 4808
Sernova Corp. V.SVA 4143
New Found Gold V.NFG 2521
CGX Energy Inc V.OYL 2361
Extreme Vehicle Battery Technologies Corp. C.ACDC 2108
Therma Bright Inc V.THRM 2089
Baytex Energy Corp T.BTE 2088

Today in the News

Tenet Fintech Group Inc. | Tenet CEO Provides Business Update and Addresses Shareholders' Concerns Regarding Recent Stock Performance in Q&A Interview
Gratomic Inc | Gratomic Announces Next Steps for Air Classification Equipment at its Aukam Processing Plant in Namibia
Canbud Distribution Corporation | Canbud Distribution Corp. Announces Update on Pending Acquisition of Steep Hill, Inc.
Beyond Medical Technologies Inc | Micron Technologies Sympathizes with the Worldwide Wave of the Omicron Covid Variant and Offers Medical Grade Face Masks
Coloured Ties Capital Inc. | Coloured Ties Announces Debt Settlement with Fertimar Mineracao and Share Buy Back
Baselode Energy Corp. | Couloir Capital Ltd. Is Pleased to Announce the Initiation of Research Coverage on Baselode Energy Corp.
Mountain Boy Minerals Ltd. | Mountain Boy Discovers New High-Grade Target Area on BA Project in BC's Golden Triangle
Xebra Brands Ltd. | Xebra Commences Trading on OTCQB
Rock Tech Lithium Inc | Rock Tech Lithium Appoints Markus Brügmann as Chief Executive Officer
Westhaven Gold Corp. | Westhaven Gold Completes Initial Mineral Resource Estimate of 841,000 Indicated Ounces at 2.47 g/t Gold Equivalent and 277,000 Inferred Ounces at 0.94 g/t Gold Equivalent on the Shovelnose Gold Property
Avicanna Inc. | Avicanna Announces the Appointment of Stephen Kim as Chief Legal Officer & General Counsel
PowerTap Hydrogen Capital Corp. | REPEAT -- PowerTap Reports Accelerated Commercial Development of at Home Green Hydrogen Solution
Argentina Lithium & Energy Corp | Argentina Lithium Significantly Expands Lithium Portfolio; Options Additional Properties on Pocitos Salar in Salta Province
FansUnite Entertainment Inc. | American Affiliate Approved for Entry into New York Online Sports Betting Market
HIRE Technologies Inc | HIRE Technologies Commences Trading on OTCQB Exchange
Bunker Hill Mining Corp | Bunker Hill Announces Closing of Mine Purchase and $8 Million Royalty Convertible Debenture
Wallbridge Mining Company Ltd. | Wallbridge Announces 2022 Exploration Program at Flagship Properties on Detour-Fenelon Gold Trend
Cerrado Gold Corp | Cerrado Gold Reports Record Q4 and Annual 2021 Gold Production Results from Its Minera Don Nicolas Mine in Argentina
Legible Inc Com | Legible Inc. Announces Listing on the Frankfurt Stock Exchange (FSE), Symbol "D0T"
P Squared Renewables Inc. | Universal Ibogaine Announces Change in Leadership
PowerTap Hydrogen Capital Corp. | PowerTap Reports Accelerated Commercial Development of at Home Green Hydrogen Solution
Fission 3.0 Corp. | Fission 3.0 Commences Mobilization for Winter Drilling at PLN

Word on Wallstreet

Most U.S. markets fell Monday – the Dow dropped by about 160 points, or 0.45%, in late afternoon trading. U.S. Treasury yields reached a new two-year high while investors worried about the prospect of a more hawkish U.S. Federal Reserve this year, especially the timing of interest rate hikes. Higher interest rates reduce the value to investors of the future cashflows that tech and other high growth sectors are expected to produce.

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