U.S. inflation declines, stocks rally
The latest CPI number in the U.S. came in slightly lower than expected at 2.5% year over year instead of 2.6%. In August, prices climbed 0.2% over the previous month as predicted. Markets greeted the news by buying: the Nasdaq 1.77%, the S&P 0.7% and the Dow only 18 points.
Key names: Nvidia 7.43%, AMD 4.63%, First Solar 14.01% and Albemarle 10.68%. The U.S. 10-year yield hovered around 3.663% while Bitcoin inched up to US$57,700.
Excepting telcos, every TSX sector rallied to lift the index by 0.72%. Dollarama jumped 8.18%, First Majestic Silver 7.5%, Energy Fuels 7.45% and First Quantum Minerals 6.6%. Gold slipped a few dollars to US$2,513 and WTI regained 2% to US $67.10.
💾 NVIDIA Corporation (NVDA-Q) +7.43%
💾 Advanced Micro Devices (AMD-Q) +4.63%
🧬 First Solar Inc. (FSLR-Q) +14.01%
⛏ Albemarle Corp (ALB-N) +10.68%
🛒 Dollarama Inc. (DOL-T) +8.18%
🥈 First Majestic Silver (FR-T) +7.5%
⛏ Energy Fuels Inc. (EFR-T) +7.45%
⛏ First Quantum Minerals (FM-T) +6.6%
