W.E Aug 28: Sectors

• TSX Composite: 36,553.92, −280.33 (−0.76%)
• Gold Dec futures: $4,529.9, −$134.1 (−2.88%) — same print Reuters used
• WTI settle: $83.40, −$0.13 (−0.16%)
• Capped indexes in the screenshot: confirmed for tech 324.49 (−1.17%) and discretionary 395.46 (+0.45%). Materials ETF XMA −2.78% lines up with TTMT −2.80%.

Gold / Materials — confirmed
Warsh at Jackson Hole: inflation not improving enough, 2% PCE is a “firm, fixed” target, Fed “has work to do.” Sept hike odds moved from ~35–36% to ~55–60% (sources differ inside that band; I over-specified 58–60%). Dollar up, gold sold. Materials followed gold miners. Extra fact I underweighted: some of the worst Composite names were uranium (Denison −7.1%, NexGen −7.0%, Energy Fuels −6.5%), not only gold. Baystreet miner prints (Eldorado ~−5.7%, Torex ~−5.2%, AbraSilver ~−6%) are recap figures, not exchange official lasts.

Energy / oil — confirmed, nuance added
Friday oil move was tiny. The weekly WTI drop was the real story (~−4% from $87.06 the prior Friday). Driver: Hormuz risk premium fading (Oman–Iran corridor talk + uneven but recovering Gulf flows). Energy index −1.0% is larger than WTI −0.16%, so it was oil + risk-off in producers, not a one-for-one oil print. Spartan Delta ~−4% is a recap, not independently verified here.

Tech — corrected
Keel on TSX: $4.49, −7.80% (Nasdaq KEEL was −8.26% to $3.22). I had rounded that to “~8%.” Company-specific: Q2 revenue halved, still pre-lease on the 2.2 GW AI/data-centre conversion. That, plus weaker U.S. chip/AI-infra tape, explains most of TTTK −1.17%. Celestica ~−5.5% was a secondary recap — treat as unverified.

Financials / discretionary — holds
Banks bid enough to leave TTFS +0.16% after earnings week + the GDP print. Discretionary +0.45% confirmed. Baystreet: Canadian Tire +$1.81 to $190.32, Magna +$0.73 to $91.77 — consistent with the sector, still recap-level.

Staples / industrials / healthcare / nat gas
No better single-name catalyst found. Small moves. Treat as tape/rotation, not a headline. Nat gas $2.888 (−0.89%) matches the screenshot and a weekly desk table; no separate gas shock.