The TSX opened flat on Tuesday as investors weighed upbeat earnings from Shopify and a surge in U.S. tech stocks against ongoing weakness in commodities.
Oil prices fell for a second session on concerns of oversupply and a stronger U.S. dollar, while copper extended losses as investors trimmed exposure to industrial metals. Meanwhile, gold edged lower as traders reassessed rate expectations following last week’s central bank commentary.
In the U.S., the Nasdaq climbed nearly half a percent at the open, boosted by Amazon’s record-breaking rally after a landmark partnership with OpenAI.
Market numbers
TSX: Up (0.05%), 30,275.06
TSXV: Down (0.18%), 894.47
DOW: Down (0.82%), 46,947.19
NASDAQ: Up (0.44%), 25,972.94
FTSE: Down (0.27%), 9,703.50
In the headlines
- Amazon hits record high after OpenAI deal – Amazon (NDAQ:AMZN) stock jumped 4% to an all-time high after announcing a US$38 billion computing deal with OpenAI, extending the rally in AI-related tech names. The partnership will see Amazon Web Services provide cloud infrastructure and chips for OpenAI’s next generation of models.
- Shopify revenue jumps 32% – Shopify (TSX:SHOP) reported a 32% increase in third-quarter revenue from a year ago, driven by strong growth in enterprise sales and new merchant subscriptions. The company said AI-powered commerce tools and expanded payment services contributed to the performance.
Currencies
USD: Down (0.21%), $0.7095
GBP: Up (0.54%), $0.5439
EUR: Up (0.13%), $0.6183
JPY: Down (0.67%), ¥108.96
Bitcoin: Down (2.80%), US$103,573.97
(Conversion to C$1)
Commodities
Copper: Down (1.79%), 5.0085
Gold: Down (1.20%), 3,953.44
WTI: Down (0.96%), 60.66
Natural Gas: Down (0.19%), 4.23
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