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Stronger than expected employment numbers in both the U.S. and Canada triggered a strong sell-off in AI tech stocks Friday. Investors forecast at least one interest rate hike by the U.S. Fed this year, despite Trump replacing the Fed chair specifically to cut rates. The most influential names on Wall street were hammered: Nvidia -6.2%, Intel -11.28%, Micron -13.25%, Amazon -3.06% and Tesla -6.56%. The S&P closed the session -2.65% which erased its gains for the week; the Nasdaq shed over 4% on Friday and more than 4.5% for the week; and the Dow sank 1.35% though nearly broke even over the week. Meanwhile, the U.S 10-year yield climbed past 4.54%. Bitcoin extended its slump by 4.1% to US$60,970.

The TSX slid 2.2% or nearly 800 points, even though sectors were fairly mixed. There were outsized gains in healthcare but huge losses in materials, tech and energy. Major movers on Bay Street included Transcontinental 7.43%, CNQ -3.7%, BlackBerry -9.17%, Suncor -4.57% and Curaleaf 6.57%. Silver slid 8.4% to US$67.55 and gold tumbled 3.6% to US$4,315.

💾 NVIDIA Corporation (NVDA) -6.2%

💾 Intel (INTC) -11.28%

💾 Micron Technology (MU) -13.25%

📦 Amazon.com, Inc. (AMZN) -3.06%

🚗 Tesla Inc (TSLA) -6.56%

🅱 Bitcoin (BTCUSD) (BTC-USD) -4.1%

🖨 Transcontinental Inc. (A) (TCL.A.TO) +7.43%

🛢 Canadian Natural Rsrcs (CNQ.TO) -3.7%

📱 BlackBerry (BB.TO) -9.17%

🛢 Suncor Energy Inc (SU.TO) -4.57%

🌿 Curaleaf Holdings Inc (CURA.TO) +6.57%

Financials, healthcare and materials helped lift the TSX 425 points or 1.22% higher to a record close of 35,227. Only two sectors, including telcos, lost ground. Silver rose 1.7% to US$73.85 while gold added 1% to US$4,480. Peace prospects in the Middle East pressured WTI by three dollars to US$93.05. Key names on Bay Street included Bausch Health up 5.94%, Constellation Software 5.5%, Royal Bank 1.93% to a new high, and TransAlta sinking 10.36%.

On Wall Street, the Dow also made a record close after climbing 1.73% while the S&P advanced 0.41% and the Nasdaq lost a handful of points.Major movers: Broadcom -12.59%, Micron -7.74%, Bank of America 3.38%, Humana 6.8% and Blackstone 7.5%. The U.S. 10-year yield held at 4.47% while Bitcoin continued to slide, down 2.5% to US$63,305.

👨‍⚕️ Bausch Health Companies Inc (BHC) +5.94%

💾 Constellation Software Inc. (CSU.TO) +5.5%

🏛 Royal Bank (RY.TO) +1.93%

💡 Transalta Corp (TA.TO) -10.36%

🧬 Broadcom (AVGO) -12.59%

💾 Micron Technology (MU) -7.74%

🏛 Bank of America (BAC) +3.38%

👨‍⚕️ Humana Inc (HUM) +6.8%

🏛 Blackstone Group LP (BX) +7.5%

🅱 Bitcoin (BTCUSD) (BTC-USD) -2.5%

Stocks retreated from yesterday’s record-breaking highs after yields and the price of oil rose. WTI climbed 2.8% to US$96.40 as the U.S. and Iran war rages on while the U.S. 10-year yield edged up to 4.491%. The S&P closed -0.74%, the Nasdaq -0.89%, the Dow -1.21% and the TSX -1.05%. Techmania endured, however, with Intel surging 4.43% and Sandisk 6.71%. However, Nvidia ended the session -3.62% and Lumentum -8.86%. Moderna rallied 7.49%. 

Sectors were mixed on Bay Street after sharp losses in tech and materials outweighed gains in staples. Silver slipped by 2.9% to US$72.85 and gold sank US$50 to US$4,438. Key names in Toronto: CNQ 1.47% as the most active stock, Lithium Americas -8.69%, Aya Gold & Silver -8.2%, and Athabasca Oil 3.14%.

💾 Intel (INTC) +4.43%

💾 Sandisk Corp (SNDK) +6.71%

💾 NVIDIA Corporation (NVDA) -3.62%

🧬 Lumentum Holdings (LITE) -8.86

💉 Moderna (MRNA) +7.49%

🛢 Canadian Natural Rsrcs (CNQ.TO) +1.47%

⛓ Lithium Americas Corp (LAC.TO) -8.69%

⛏ Aya Gold & Silver (AYA.TO) -8.2%

🛢 Athabasca Oil Sands Corp (ATH.TO) +3.14%