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S&P and Nasdaq notch records, but stocks mixed
Wall Street reopened Tuesday following a holiday and played catch-up to Monday’s global rally. The S&P did by rallying 0.61% to a record close of 7,519, and the Nasdaq jumped 1.19% to its own high of 26,656. However, not everything rallied. The Dow sank 0.23%. Once again, tech led the gains with Micron soaring 19.29% and ON Semiconductor 9.29%. Elsewhere, AutoZone skidded 8.99%, Intuit slumped 4.87% and Ford rose 2.61%. Though Washington assured the public that the U.S.-Iran peace talks were progressing, the U.S. launched fresh strikes at Iran. Nonetheless, WTI crude sank US$3 to US$93.65. The U.S. 10-year yield slipped to 4.493%.
SIlver declined 1.45% to US$76.80 and gold fell US$62 to US$4,508. Their weakness didn’t help the TSX which saw seven sectors fade, led by staples, tech and healthcare. Utilities was the best performer. Major movers on Bay Street: Enbidge -1.22%, Manulife -1.19%, BlackBerry 5.14%, Boyd Group -4.35% and Brookfield Renewables 4.96%. Finally, Bitcoin sank 1.6% to US$75,980.
However, the Dow slipped 0.23% and the TSX stepped back from historic highs by 0.52%.
💾 Micron Technology (MU) +19.29%
🧬 ON Semiconductor (ON) +9.29%
🚗 Autozone Inc. (AZO) -8.99%
💾 Intuit Inc. (INTU) -4.87%
🚘 Ford Motor (F) +2.61%
🛢 Enbridge (ENB.TO) -1.22%
🏛 Manulife Financial (MFC.TO) -1.19%
📱 BlackBerry (BB.TO) +5.14%
🚗 Boyd Group Services Inc. (BYD.TO) -4.35%
♻ Brookfield Renewable Partners (BEP.UN.TO) +4.96%
🅱 Bitcoin (BTCUSD) (BTC-USD) -1.6%
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We forget to look at the positives in the market, possibly: a resolution to the US-Iran war, continued AI investment, continued infrastructure investment amid re-shoring, or an economic boom from AI efficiency, possibly in increased jobs or productivity. Also, possibly good, old-fashioned earnings growth. There's also something to worry about, like geopolitical risk. About 70% of the TSX is financials, commodities and energy, which worked well in 2025, but if say two of those three go sideways, then the TSX could lag other markets. He focuses on growth and momentum, tech and AI. He looks at strong balance sheets, good momentum like 52-week highs and positive cash flow.
He is optimistic in spite of the volatility and is still seeing earnings estimates for the S&P 500 continue to climb and even accelerate a bit in March and April. He hasn't seen the AI parade affected by higher oil prices as well as the consumers too much. Corporations are still doing quite well and AI will benefit many companies throughout the whole economy. He has seen big pullbacks when investors get shaken up regarding the future of AI which presents buying opportunities for trading. The market is expecting a relatively short term for the war with Iran. However if it drags on for a long time this would have an impact everywhere in the economy including a spike of oil to $200.
Mideast peace hopes drive TSX to record close
With U.S. markets closed for a holiday, the TSX surged 0.88% or over 300 points to a record close of 34,774. Minerals soared, leading every sector except energy higher. Silver jumped 3.4% to nearly US$78 while gold climbed over US$60 to US$4,570. Winners included Hudbay Minerals, up 8.94%, First Quantum Minerals 8.36% and Capstone Copper 7.44%. The price of WTI crude plunged by 6.5% to US$90.30 a barrel as Baytex slid 5.2% and Whitecap Resources tumbled 3.69%. Meanwhile, Bitcoin advanced over 1% to US$77,385.
⛏ Hudbay Minerals (HBM-T) +8.94%
⛏ First Quantum Minerals (FM-T) +8.36%
🥉 Capstone Copper Corp (CS-T) +7.44%
🛢 Baytex Energy Corp (BTE-T) -5.2%
🛢 Whitecap Resources (WCP-T) -3.69%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1%
Most Anticipated Earnings: BNS-T, TD-T and more Canadian Companies Reporting Earnings this Week (May 25-29)
Here are the Canadian companies listed on Stockchase who are reporting earnings this week: 🏛 Financials 🛢Basic Materials 💻 Technology 💡 Utilities 🛍 Consumer 🚚 Industrials Use this list wisely to identify buying opportunities.Happy trading !!! read more
