Nasdaq jumped 1.25% and Bitcoin surged past $119,000 CAD as easing yields fueled a global tech rally and oil slid.
Nasdaq jumped 1.25% and Bitcoin surged past $119,000 CAD as easing yields fueled a global tech rally and oil slid.

Markets climbed broadly today as easing oil prices and bond yields gave investors room to buy back into risk assets, particularly tech. The Nasdaq jumped 1.25% and the Dow added 0.16%, while the TSX slipped 0.09% and the TSX Venture Index dipped 0.30%. The FTSE 100 rose 0.96%, extending the global rally.

Bitcoin surged 5.51% as it tested the $82,000 U.S. level for a third time, with tech stocks broadly benefiting as Treasury yields eased and an Asia chip rally helped investors look past a hawkish Fed tone. Oil fell 2.03% and gold slipped 0.64%, while copper gained 1.19%. Analysts noted tech valuations haven’t looked this cheap since ChatGPT’s launch, adding to the case for the rebound.

Market numbers

TSX: Down (-0.09%) 35,772.89

TSXV: Down (-0.30%) 920.34

DOW: Up (+0.16%) 51,820.8

NASDAQ: Up (+1.25%) 30,102.4FTSE 100: Up (+0.96%) 10,724.24

In the headlines

  • Unitree slides 55% from peak as IPO euphoria fades: Unitree, the Chinese robotics manufacturer known for its humanoid and quadruped robots, has tumbled 55% from its post-IPO peak as early enthusiasm gives way to harsher market realities. The pullback highlights how quickly sentiment can turn for high-flying tech debuts once initial hype cools.
  • Paramount, Warner Bros shares rally on merger settlement reports: Paramount Skydance (NASDAQ:PSKY) and Warner Bros. Discovery (NASDAQ:WBD), the media and entertainment giants, both rallied on reports that talks to settle a potential merger dispute are advancing. Investors are watching closely for signs of consolidation across the traditional media landscape.

Currencies

USD: Down (-0.21%) $0.7132

GBP: Down (-0.04%) $0.5330

EUR: Down (-0.09%) $0.62205

JPY: Up (+0.14%) ¥112.364

AUD: Down (-0.30%) $1.0007

Bitcoin (BTC/CAD): Up (+5.51%) 119,797.2

(Conversion to C$1)

Commodities

Copper: Up (+1.19%) 6.82054

Gold: Down (-0.64%) 4,350.03

WTI: Down (-2.03%) 89.15

Natural Gas: Down (-0.31%) 2.869

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