Warm inflation, Bitcoin ETFs launch

On Thursday, the U.S. December CPI print came in at 0.3%, pushing the annual rate to 3.4%, compared to the expected 0.2% and 3.2%. Core CPI was in in-line. The data suggests that future interest rate cuts may come slower than the street projected. The news triggered a volatile session, but American indices closed flat. The S&P and Nasdaq shed a handful of points while the Dow ended just where it started the day. However, the U.S. 10-year yield wound up below 4.0%. The other big news on Wall Street was that 11 Bitcoin ETFs began trading (after Wednesday’s false start).

Amid this excitement, Bitcoin itself declined 0.8% to trade around $46,300. Also grabbing headlines was Microsoft overtaking Apple during the session as the largest company by market cap as it made an all-time intraday high. Elsewhere, Netflix rallied 3.05%, Salesforce 2.91%, Paramount Global -5.56% and Warner Bros. Discovery -3.87%.

The TSX was quieter, though it slipped 0.34%. Sectors were mixed as staples and energy led and utilities and financials fell in reaction to U.S. inflation. Notable names were Cameco popping 3.46%, TD -1.34%, CIBC -1.62% and Aritizia which soared nearly 21% after reporting a convincing beat and breaking a long slump. Meanwhile, WTI crude climbed 1.4% to $72.35.

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.8%

📺 Netflix Inc. (NFLX-Q) +3.05%

💨 SalesForce.com Inc. (CRM-N) +2.91%

🎞 Paramount Global (PARA-Q) -5.56%

📺 Warner Bros. Discovery (WBD-Q) -3.87%

⛏ Cameco Corporation (CCO-T) +3.46%

🏛 Toronto Dominion (TD-T) -1.34%

🏛 Canadian Imperial Bank of Commerce (CM-T) -1.62%

👗 Aritzia Inc. (ATZ-T) +21%