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
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
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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