Stocks jump on light inflation numbers
On Wednesday, July’s American inflation rate clocked in at 8.5%, lower than the expected 9.1%. The lower figure triggered a rally on both sides of the border and lifted all sectors. The S&P jumped 2.13%, the Dow 1.55% and the Nasdaq 2.85%. In particular, the cruise lines soared as Norwegian leapt 12.07%, Royal Caribbean 9.45% and Carnival 9.08%. Tech was also a major gainer as AMD rose 3.72%, Etsy nearly 7%, Apple 2.5%, Meta 5.82% and Amazon 3.43%. Disney added nearly 4% ahead of earnings. One of the few losers of the session was CME Group, down 2.62%. Meanwhile, Bitcoin climbed 2.3% to $23,700. The U.S. 10-year yield held around 2.78%.
In Toronto, all sectors were in the green, starting with real estate, consumer staples, financials and tech. The TSX rose 1.56% and closed within striking distance of 20,000. Major movers were Boyd Group Services Inc. up 20.6%, Bombardier at 13.5%, Shopify 9.75%, Lightspeed 9.31% and Hudbay Minerals 10.71%. Weed stocks continued to yo-yo. Canopy Growth leapt 13.5% and Aurora nearly 10%. A rare loser was CAE, down 17.62%. Finally, WTI advanced 1% to $91.50.
🚢 Norwegian Cruise Line Holdings (NCLH-N) +12.07%
🚢 Royal Caribbean Cruises (RCL-N) +9.45%
🚢 Carnival Corp. (CCL-N) +9.08%
💾 Advanced Micro Devices (AMD-Q) +3.72%
🛍 Etsy Inc. (ETSY-Q) +7%
🍎 Apple (AAPL-Q) +2.5%
🕵️♂️ Meta Platforms, Inc. (META-Q) +5.82%
📦 Amazon.com (AMZN-Q) +3.43%
👸 Walt Disney Co. (DIS-N) +4%
🏛 CME Group Inc. (CME-Q) -2.62%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.3%
🛍 Boyd Group Services Inc. (BYD-T) +20.6%
🚂 Bombardier Inc (B) (BBD.B-T) +13.5%
🛍 Shopify Inc. (SHOP-T) +9.75%
💾 Lightspeed Commerce Inc (LSPD-T) +9.31%
⛏ Hudbay Minerals Inc. (HBM-T) +10.71%
🌿 Canopy Growth Corp. (WEED-T) +13.5%
🌿 Aurora Cannabis (ACB-T) +10%
✈ CAE Inc (CAE-T) -17.62%
