Carney projects pushes TSX to fresh highs
On Thursday, Prime Minister Carney announced that Ottawa will fast-track five infrastructure projects, including LNG in Kitamat, B.C. The news boosted the industrials sector and the TSX itself which rallied 0.78% to a record high of 29,407. Eight sectors gained, while energy lagged the most. Major movers were infrastructure names Aecon, jumping 9.55%, AtkinsRealis 8% and Bird Construction 6.88%. Meanwhile, Air Transat reported a miss and issued a dour forecast, which sent its shares diving 10.87%. In minerals, First Majestic Silver rallied 10.03%. Gold backed off from record levels to US$3,636 while WTI sank over 2% to US$62.30
The August U.S. CPI print hit Wall Street. Inflation rose to 2.9% in August, higher than the previous month’s 2.7% and well above the U.S. Fed’s target of 2%. (Canada’s is 1.7%.) The number pushed stocks higher and increased the chances of the Fed cutting interest rates this month to slamdunk levels. Once again, the three major indices made record closes: the S&P up 0.85%, the Nasdaq 0.72% and the Dow 1.36% to 46,108. Major movers: Oracle gave back 6.23% after a monster move higher yesterday, Synopsis leapt 12.98%, and Centene 8.99%. A report came out that Paramount Skydance is preparing a bid for Warner Bros. Discovery, which catapulted the stocks 15.55% and 28.85% higher, respectively. Meanwhile, Bitcoin added 0.66% to US$114,370. The U.S. 10-year-yield held around 4.024%.
⚙ Aecon Group Inc (ARE-T) +9.55%
⚙ AtkinsRealis Group (ATRL-TO) +8%
🧱 Bird Construction Income Fund (BDT-T) +6.88%
🛫 Transat AT Inc. (TRZ-T) -10.87%
🥈 First Majestic Silver (FR-T) +10.03%
💾 Oracle (ORCL-N) -6.23%
💾 Synopsys Inc (SNPS-Q) +12.98%
👨⚕️ Centene (CNC-N) +8.99%
🎞 Paramount Skydance Corporation (PSKY-Q) +15.55%
📺 Warner Bros. Discovery (WBD-Q) +28.85%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +0.66%
