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Spreadsheet
On Wednesday afternoon, the U.S. Fed’s Jay Powell announced a 75-basis point hike in interest rates and offered dovish comments about inflation. The street expected that move and reacted by buying. Though off the session highs, the S&P closed -1.46% higher, the Nasdaq 2.5% and the Dow 1% in a convincing rally that propelled all sectors except energy. Meanwhile, the U.S. 10-year yield retreated to 3.3% and Bitcoin fell another 2.5% to $21,500.
Major movers on Wall Street: Amazon 5.24%, Microsoft 2.96%, Nvidia 4.36%, Citigroup 3.52% and Meta/Facebook 3.43%. Weakness in energy accounted for many losers including Marathon at -3.67% and Valero -4.07%.
WTI fell $3 to $115 and WCS shed $1.60 to $98.25. Oil’s weakness limited the TSX’s gains to 0.32% though tech and real estate rallied. Algoma soared 18.55% after delivering a record record while Bombardier jumped 18.34%. Shopify rose 6.91%, Lightspeed 5.74% and Western Copper and Gold 5.67%. Losing ground were Pollard Banknote at -4.16% and Cenovus -3.55%. Bay Street is now expecting a 75-point hike by the Bank of Canada.
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2.5%
📦 Amazon.com (AMZN-Q) +5.24%
Ⓜ Microsoft (MSFT-Q) +2.96%
💾 Nvidia Corp (NVDA-Q) +4.36%
🏛 Citigroup Inc. (C-N) +3.52%
🕵️♂️ Meta Platforms Inc / Facebook (FB-Q) +3.43%
🛢 Marathon Oil (MRO-N) -3.67%
🛢 Valero Energy Corp (VLO-N) -4.07%
⛏ Algoma Steel Group Inc (ASTL-T) +18.55%
🚂 Bombardier Inc (B) (BBD.B-T) +18.34%
🛍 Shopify Inc. (SHOP-T) +6.91%
💾 Lightspeed Commerce Inc (LSPD-T) +5.74%
⛏ Western Copper (WRN-T) +5.67%
🏛 Pollard Banknote Ltd (PBL-T) -4.16%
🛢 Cenovus Energy (CVE-T) -3.55%
