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Semis lead stocks down
Capital continued to flow out of semis and memory stocks on Thursday as Nvidia closed -2.4%, Intel -4.84%, Sandisk -12.63% and Micron -5.65%. Elsewhere, Abbott Labs surged 10.69%. The Nasdaq slid 1.47% while the S&P fell 0.51% and the Dow declined 0.2%.
In Canada, the TSX closed -0.26% in mixed trading as industrials and staples outperformed but materials sold off hard. Key names: TFI International 7.27%, Descartes 6.4%, BlackBerry -14.23%, Barrick -3.97% and B2Gold -3.75%.
In commodities, gold fell over 2% to US$3,975, silver tumbled 4% to US$55.40 and WTI slipped 0.75% to US$79. Bitcoin sank 1.15% to US$64,195. The U.S. 10-year yield hovered around 4.55%.
💾 NVIDIA Corporation (NVDA) -2.4%
💾 Intel (INTC) -4.84%
💾 Sandisk Corp (SNDK) -12.63%
💾 Micron Technology (MU) -5.65%
💊 Abbott Labs (ABT) +10.69%
🚚 TFI International Inc (TFII.TO) +7.27%
💾 Descartes (DSG.TO) +6.4%
📱 BlackBerry (BB.TO) -14.23%
⛏ Barrick Mining (ABX.TO) -3.97%
🥇 B2Gold Corp. (BTO.TO) -3.75%
🅱 Bitcoin (BTCUSD) (BTC-USD) -1.15%
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A year ago, he struggled to find value. Ended up buying SVNLY, which had an attractive valuation. Everything else was expensive, and even more so today. Don't forget that banks are cyclical. The good times are here, and it doesn't get much better than this. Be mindful, risk/reward isn't attractive.
Similar argument for US banks on valuation, though he's slightly less concerned about them.
Be mindful of your overall bank exposure.
Bets it will be consolidated if shares stay down here. Can buy some here.
There's been a lack of market breadth. Until the last quarter of 2025, it's been all tech. But now tech has been weaker than other sectors. Eventually, the semis will be weak. Nearly every other sector has gained strength, which makes him bullish. This rotation is healthy. In the past month or so, tech has been underperforming other sectors. Value is returning to the market and diversification has returned. The market is healthier than 6 months ago.
BoC holds rates, Apple hits high
Trading was mixed in Toronto as financials and telcos rallied the hardest while tech and materials slid the most. The TSX gained 0.26% or 91 points. To little surprise, the Bank of Canada held the prime lending rate at 2.25%.Silver declined 1.65%, gold added US$8 to US$4,060 while WTI edged up almost a dollar to US$4,060 as war raged between the U.S. and Iran. Major movers on Bay Street: EQB 9.6%, BlackBerry -3.23%, Bird Construction 13.37%, Aecon 9.06% and Energy Fuels -4.46%.
In New York, PPI, producer’s inflation, came in lower than expected in June. Sentiment was positive as the S&P gained 0.38%, the Nasdaq 0.62% and the Dow 0.29%. PayPal soared 17.2% after a report it could be bought out, Blackrock rallied 6.63%, Dell tumbled 9.8%, Intel slid 4.43% while Apple rose 4% to a new high. Bitcoin edged up 0.6% to US$64,910. The U.S. 10-year yield slipped to 4.553%.
🏛 Equitable Group (EQB.TO) +9.6%
📱 BlackBerry (BB.TO) -3.23%
🧱 Bird Construction (BDT.TO) +13.37%
⚙ Aecon Group Inc (ARE.TO) +9.06%
⛏ Energy Fuels Inc. (EFR.TO) -4.46%
💳 PayPal Holdings Inc. (PYPL) +17.2%
🏛 Blackrock Inc. (BLK) +6.63%
💻 Dell Computers (DELL) -9.8%
💾 Intel (INTC) -4.43%
🍎 Apple Inc (AAPL) +4%
🅱 Bitcoin (BTCUSD) (BTC-USD) +0.6%
We've seen some improvement in healthcare and some of the healthcare ETFs.
Weekly 52-Week Low (or 52-Week High): EMA-T, BNS-T, OGI-T, IVN-T and More 52-Week Highs and Lows (Jul 08-14)
52-Week High TSX Stocks Here’s this week’s 52-week high stocks on Stockchase… 💡 Utilities 💻 Technology 🚚 Industrials 🏛 Financials ⚡ Energy 👨⚕️ Healthcare 🛍 Consumer 🛢 Basic Materials 52-Week Lows TSX Stocks Here’s this week’s 52-week lows stocks on… read more
Markets stabilize as Mideast war resumes
As the US and Iran resumed fighting over the Strait of Hormuz, WTI oil climbed another 2.25% to US$79.90, though markets in New York and Toronto stabilized. The American indices regained some of the ground they lost in Monday’s sell-off: S&P 0.38%, the Nasdaq 0.9% while the Dow was flat. Goldman Sachs surged 9% as the US banks reported, Crowdstrike popped 12.14%, Nvidia rose 4.06%, though IBM cratered by 25.21% after issuing a Q2 earnings warning, and Spacex slid 2.2% to nearly its IPO price. Meanwhile, Bitcoin jumped 3.7% to US$64,455. The U.S. 10-year yield slipped to 4.585%.
In Toronto, the TSX gained 0.16% though only three sectors were up, including materials. Tech and staples were the worst performers. Silver rallied 2% to US$58.65 and gold climbed US$52.45 to US$4,055. Key names: CNQ -1.86%. BCE -1.94%, BlackBerry 1.98%, First Quantum Minerals 8.26% and Hudbay Minerals 6.72%.
🏛 Goldman Sachs (GS) +9%
💾 CrowdStrike Holdings (CRWD) +12.14%
💾 NVIDIA Corporation (NVDA) +4.06%
💾 IBM Common Stock (IBM) -25.21%
📡 SpaceX (SPCX) -2.2%
🅱 Bitcoin (BTCUSD) (BTC-USD) +3.7%
🛢 Canadian Natural Rsrcs (CNQ.TO) -1.86%
📱 BCE Inc. (BCE.TO) -1.94%
📱 BlackBerry (BB.TO) +1.98%
⛏ First Quantum Minerals (FM.TO) +8.26%
⛏ Hudbay Minerals (HBM.TO) +6.72%