Markets rallied in the U.S. and overseas today as Wall Street tried to sort winners from losers following the Republican midterm wipeout, though the TSX lagged. The TSX fell 0.75% and the TSX Venture Index dropped 0.77%, while the Dow surged 2.65% and the Nasdaq gained 1.60%. The FTSE 100 climbed 2.23%, even as Tesla and SpaceX shares took an early hit on warnings that a Democratic victory could create hurdles for the AI build-out.
Oil fell 3.28% to 93.00 even as Iran war uncertainty lingered after the election, while gold jumped 2.91% to reclaim the $4,000 level and natural gas rose 0.80%. Copper slipped 0.11%, and Bitcoin gained 2.13% to just above C$110,000 as it recovered from the election shakeup. At home, StatCan reported a $5.4 billion merchandise trade surplus for September, while the CRA announced 735 job cuts weeks before tax season.
Market numbers
TSX: Down (-0.75%) 35,532.28
TSXV: Down (-0.77%) 794.69
DOW: Up (+2.65%) 53,051.4
NASDAQ: Up (+1.60%) 28,647.4
FTSE 100: Up (+2.23%) 10,833.67
In the headlines
- AMD jumps 5% as quarterly report shows AI sales stay strong: Advanced Micro Devices (NASDAQ:AMD), the semiconductor company, rose 5% after its quarterly report showed continued strength in AI chip sales. The results reinforced investor confidence in demand for AI hardware.
- Novo Nordisk CEO says Wegovy pill “exceeded our expectations”: Novo Nordisk (NYSE:NVO), the Danish pharmaceutical company behind the weight-loss drugs Wegovy and Ozempic, said its CEO believes the launch of the Wegovy pill has exceeded the company’s expectations. The comments point to strong early demand for the oral version of its blockbuster obesity treatment.
Currencies
USD: Up (+0.38%) $0.7161
GBP: Down (-0.09%) $0.5312
EUR: Down (-0.18%) $0.63663
JPY: Up (+0.27%) ¥113.594
AUD: Down (-0.37%) $1.0205
Bitcoin (BTC/CAD): Up (+2.13%) 110,659.4
(Conversion to C$1)
Commodities
Copper: Down (-0.11%) 6.47973
Gold: Up (+2.91%) 4,044.59
WTI: Down (-3.28%) 93.00
Natural Gas: Up (+0.80%) 2.895
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