BoC cuts again, but markets flat

To little surprise, the Bank of Canada cut interest rates Wednesday yet again, taking the prime rate down by 25 basis points to 4.25% and signalling further cuts. The TSX initially popped Wednesday morning on the news, then became choppy until it closed the session flat. Most sectors gained modestly, while energy sank after WTI fell 2% to below US$69 a barrel.

Top gainers were renewable energy names Innergex by 4.2% and Brookfield up 3.76%. Losing ground was Canada Goose at -4.5%, Torex -4.31% and Suncor -2.51%. Gold, too, was flat, holding around US$2,494.

Wall Street also saw choppy trading with the Dow essentially flat and failing to break 41,000. The S&P shed a handful of points while the Nasdaq declined by 0.3%. The U.S. 10-year slipped to 3.759%. Major gainers were Tesla and Mondelez, both up 4.18%. Losing ground were Nvidia by -1.66%, Intel -3.33% and Dollar Tree plunging 22.16% after cutting its full-year forecast. Bitcoin regained 0.88% to nearly US$58,000.

💡 Innergex Renewable Energy (INE-T) +4.2%

♻ Brookfield Renewable Energy (BEP.UN-T) +3.76%

🧣 Canada Goose Holdings (GOOS-T) -4.5%

🥇 Torex Gold Resources (TXG-T) -4.31%

🛢 Suncor Energy Inc (SU-T) -2.51%

🍭 MONDELEZ INTERNATIONAL INC Common Stock (MDLZ-Q) +4.18%

💾 NVIDIA Corporation (NVDA-Q) -1.66%

💾 Intel (INTC-Q) -3.33%

🚗 Tesla Inc (TSLA-Q) +4.18%

🛒 Dollar Tree (DLTR-Q) -22.16%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +0.88%