Stocks extend gains
On Wednesday, markets on both sides of the border modestly extended gains as the U.S. 10-year yield held around 1.73%. The TSX climbed 0.54%, the Dow 0.11%, the S&P 0.28% and the Nasdaq 0.23%. American industrials were strong though financials and consumer names were mixed.
Notable movers included Tesla, up 3.93%, Freeport-McMoran by 5%, Applied Materials adding 4.66% and Take-Two Interactive rising 5.15%. Meanwhile, Goldman Sachs slipped 3.16%, Morgan Stanley slid 2.71% and American Airlines dove 2.73%. New inflation figures came in at 7%. In cryptos, Bitcoin regained 2.4% to trade near $44,000.
In Toronto, energy, financials and especially materials rallied as minerals, such as nickel, jumped in price. First Quantum soared 9.6%, Lundin Mining 9.44% and Hudbay Minerals 6.02%. Meanwhile, Interfor rose 6.68%, Crescent Point Energy added 4.84%, Lightspeed 2.2% and Cargojet 4.34%. In contrast, cannabis gave back recent gains as Hexo closed -4.65% and Aurora -2.97%. Elsewhere, Saputo finished -2.79% and Cogeco -2.75%. WTI crude rose nearly 2% to trade above $82 a barrel while WCS almost topped $70. Gold was flat, changing hands around $1,825 an ounce.
🚗 Tesla Motors Inc (TSLA-Q) +3.93%
⛏ Freeport McMoran Copper & Gold (FCX-N) +5%
🧱 Applied Materials (AMAT-Q) +4.66%
💾 Take-Two Interactive Softwar (TTWO-Q) +5.15%
🏛 Goldman Sachs (GS-N) -3.16%
🏛 Morgan Stanley (MS-N) -2.71%
🛫 American Airlines Group (AAL-Q) -2.73%
🅱 Bitcoin Cash (CRYPTO:BCH) +2.4%
⛏ First Quantum Minerals (FM-T) +9.6%
⛏ Lundin Mining Corp. (LUN-T) +9.44%
⛏ Hudbay Minerals Inc. (HBM-T) +6.02%
🌲 Interfor Corp (IFP-T) +6.68%
🛢 Crescent Point Energy Corp (CPG-T) +4.84%
💾 Lightspeed Commerce Inc (LSPD-T) +2.2%
✈ Cargojet Inc (CJT-T) +4.34%
🌿 Hexo Corp (HEXO-T) -4.65%
🌿 Aurora Cannabis (ACB-T) -2.97%
🥛 Saputo Inc. (SAP-T) -2.79%
📡 Cogeco Communications (CCA-T) -2.75%