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Ongoing fears of more interest rate hikes created a choppy trading session Wednesday, which saw stocks sell off into the close. The main American indices all declined nearly around 1% with the Nasdaq shedding 1.15%. On the Dow, industrials and financials were in the red whole consumer names were very mixed.
Laggards included Boeing at -3.56%, Caterpillar -3.6% and American Express -2.88%. Apple had a rare move down by 2.13% while American Airlines dove 3.38%, Ford sank nearly 8% and GM fell 4.34%. Among the bright spots were Take-Two Interactive up 6.05% and Electronic Arts 2.48% which both basked in the afterglow of the Microsoft-Activision Blizzard deal. Dollar General gained 3.2% and Procter & Gamble rose 3.36%. The U.S. 10-year yield declined modestly to 1.847% while Bitcoin dropped 1.6% to around $41,700.
The TSX’s losses were muted compared to Wall Street’s as the Toronto index shed 0.29%. By far, materials were the strongest sector, leaving nearly all the others in the red. Anything with “gold” or “silver” in its name rallied, starting with Barrick which jumped 8.52% after issuing a pleasing quarterly report. Kinross Gold jumped 7.86%, First Majestic Silver leapt 12.41% while B2Gold added 6.32%. However, losing ground were Bombardier at -6.67%, TD at -1.61%, National Bank at -2.68% and Blackberry at -2.28%. WCS crude continued to rise, up 0.35% to nearly $72 a barrel while WTI advanced 1.25% to $86.50. The Canadian dollar held at $0.80 against the USD.
🛫 Boeing (BA-N) -3.56%
🏗 Caterpillar (CAT-N) -3.6%
🏛 American Express (AXP-N) -2.88%
🍎 Apple (AAPL-Q) -2.13%
🛫 American Airlines Group (AAL-Q) -3.38%
🚘 Ford Motor (F-N) -8%
🚗 General Motors Corporation (GM-N) -4.34%
💾 Take-Two Interactive Softwar (TTWO-Q) +6.05%
🎮 Electronic Arts Inc (EA-Q) +2.48%
🛒 Dollar General Corp. (DG-N) +3.2%
🧴 Procter & Gamble (PG-N) +3.36%
🅱 Bitcoin Cash (CRYPTO:BCH) -1.6%
🥇 Barrick Gold (ABX-T) +8.52%
🥇 Kinross Gold (K-T) +7.86%
⛓ First Majestic Silver (FR-T) +12.41%
🥇 B2Gold Corp. (BTO-T) +6.32%
🚂 Bombardier Inc (B) (BBD.B-T) -6.67%
🏛 Toronto Dominion (TD-T) -1.61%
🏛 National Bank of Canada (NA-T) -2.68%
📱 BlackBerry (BB-T) -2.28%
