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Markets extended trends from Thursday into Friday as oil continued to surge while most other sectors declined. WTI jumped over 4% to US$103.55, as energy names like Baytex rallied 3.22% and CNQ 2.15%. Energy was the lone bright spot on the TSX, as all other sectors fell, led by staples, real estate and materials. The S&P slipped 0.4% on Friday or nearly 180 points, and declined over 1% for the week. Gold sank U$28 to below US$4,000 and silver slid 1.25% to US%53.80. Other key Canadian stocks were Mullen Group -10.9%, Air Canada -4.65%, IGM Financial -4% and Eldorado Gold -3.88%.

In New York, the S&P lost half a percent on Friday and over the week, the Dow slid 1.24% but managed to gain 0.4% for the week, while the volatile Nasdaq settled 0.21% lower for the session and declined 0.7% for the week. The U.S. 10-year yield reversed direction by returning to 5%, while Bitcoin held at US$81,260. Major movers on Wall Street: Crown Castle 9.06%, Crowdstrike 8.25%, AT&T -7.96%, T-Mobile -7.71% and Bloom Energy -11.24%.

🛢 Baytex Energy Corp (BTE.TO) +3.22%

🛢 Canadian Natural Rsrcs (CNQ.TO) +2.15%

🚚 Mullen Group Ltd (MTL.TO) -10.9%

🛫 Air Canada (AC.TO) -4.65%

🏛 IGM Financial Inc. (IGM.TO) -4%

🥇 Eldorado Gold (ELD.TO) -3.88%

🏛 Crown Castle International (CCI) +9.06%

💾 CrowdStrike Holdings (CRWD) +8.25%

📱 AT&T (T) -7.96%

📱 T-Mobile US (TMUS) -7.71%

🧬 Bloom Energy (BE) -11.24%

It was a volatile Thursday on the markets as disappointing forecasts from Meta and SpaceX stoked fears over AI spending. Though both names reported quarterly beats, their shares tumbled 6.98% and 9.14%, respectively, and dragged the Nasdaq down 2.6%. While the Dow inched up a handful of points, the S&P sank 1.21%. Elsewhere on Wall Street, Netflix regained 3.09%, Moderna cratered 17.57% while the two most-active names, Intel and Nvidia fell 8.04% and 4.4%. Also declining was the U.S. 10-year yield, which slipped below 5%. Not even Bitcoin was immune, shedding 4% to US$81,260.

Investors flocked out of tech and into the safe havens of dividend stocks. On the TSX, telcos and real estate were the top performers and Telus was the most-active Canadian name, rallying 5.01%. Materials dragged down the TSX, finishing -0.95% or nearly 350 points. Gold slid over US$110 to US$4,024, silver plunged close to 6% to US$54.45. Other key names: Ivanhoe Mines -3.67%, Americas Gold & Silver -11.29%, Celestica -12.04% and Mullen Group 11.5%. Finally, crude oil surged again, with WTI jumping 2.2% to US$99.25.

🕵️‍♀️ Meta Platforms, Inc. (META) -6.98%

💾 SpaceX (SPCX) -9.14%

📺 Netflix Inc. (NFLX) +3.09%

💉 Moderna (MRNA) -17.57%

💾 Intel (INTC) -8.04%

💾 NVIDIA Corporation (NVDA) -4.04%

🅱 Bitcoin (BTCUSD) (BTC-USD) -4%

📱 Telus Corp (T.TO) +5.01%

⛏ Ivanhoe Mines Ltd (IVN.TO) -3.67%

⛏ U.S. Silver & Gold (USA.TO) -11.29%

🧬 Celestica Inc (CLS.TO) -12.04%

🚚 Mullen Group Ltd (MTL.TO) +11.5%

Market sentiment was positive on Wednesday after big names like SpaceX reported a healthy beat and surged 7.79% Other tech names also rallied, including Super Micro Computer by 9.55% and Nvidia by 2.54%. However, not everything was rosy. Netflix‘s guidance disappointed the street which sold NFLX shares by 5.31%. The Nasdaq still gained 1.05%, the S&P 0.58% and the Dow 0.69%. The U.S. 10-year yield held steady at 5.123%.

Likewise, commodities were flat: gold at US$4,134, WTI at US$97.75 and silver US$57.75, down a few pennies. Despite that, the TSX gained over 200 points or 0.6% on the strength of financials and tech, while discretionary was the weakest sector. Major movers on Bay Street: Mullen Group 5.7%, BlackBerry 6.18%, Royal Bank 1.23%, Magna -4.5% and Ivanhoe Mines -6.2%.

📡 SpaceX (SPCX) +7.79%

💾 Super Micro Computer (SMCI) +9.55%

💾 NVIDIA Corporation (NVDA) +2.54%

📺 Netflix Inc. (NFLX) -5.31%

🚚 Mullen Group Ltd (MTL.TO) +5.7%

📱 BlackBerry (BB.TO) +6.18%

🏛 Royal Bank (RY.TO) +1.23%

🚗 Magna Int’l. (A) (MG.TO) -4.5%

⛏ Ivanhoe Mines Ltd (IVN.TO) -6.2%