Markets are pulling back today as Nvidia’s earnings, while strong on the surface, failed to satisfy elevated expectations, rattling sentiment across the technology sector.
The TSX is firmly lower, tracking weakness in U.S. equities as investors digest profit‑taking after recent record highs. The Nasdaq is barely holding positive territory, while broader indexes slide as oil prices move higher again, re‑introducing inflation pressure.
Commodities and crypto are adding to volatility. Oil is surging nearly 4% as supply risks resurface, while gold is slipping close to 2% as higher energy prices complicate the inflation outlook. Copper is weaker on global growth concerns, natural gas is little changed, and Bitcoin is lower in Canadian‑dollar terms despite holding key long‑term technical support in U.S. trading.
Market numbers
TSX: Down (‑0.26%), 34,073.68
TSXV: Down (‑0.94%), 970.44
DOW: Down (‑0.34%), 49,789.5
NASDAQ: Up (+0.05%), 29,111.9
FTSE 100: Down (‑0.25%), 10,411.53
In the headlines
- Nvidia slips despite a double beat: Nvidia Nvidia (TSX:NVDA) — the dominant AI and data‑centre chipmaker — fell even after beating earnings and revenue expectations, as investors focused on slowing growth momentum and sky‑high expectations built into the stock. The reaction underscores how unforgiving the market has become toward AI leaders.
- SpaceX reveals financials ahead of massive IPO: SpaceX — Elon Musk’s aerospace and satellite company — finally disclosed financial details ahead of a highly anticipated IPO. While the valuation narrative targets as much as $2 trillion, analysts note margins and profitability still lag the ambition behind the rockets‑to‑AI vision.
Currencies
USD: Down (‑0.29%), $0.7250
GBP: Up (+0.02%), $0.5411
EUR: Up (+0.08%), $0.62635
JPY: Down (‑0.05%), ¥115.578
AUD: Up (+0.20%), $1.0184
Bitcoin (BTC/CAD): Down (‑0.69%), 105,827.9
(Conversion to C$1)
Commodities
Copper: Down (‑1.18%), 6.28174
Gold: Down (‑0.95%), 4,500.46
WTI: Up (+3.73%), 97.40
Natural Gas: Down (‑0.03%), 3.169
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