TSX and silver rise, Wall Street fades

Commodities drove markets on Wednesday, driven by fears of an oil shock from tensions in oil nations, Venezuela and Iran.WTI rallied for much of the day on fears of the U.S. striking Iran in response to the Iranian government’s bloody crackdown on hungry demonstrators, but then Trump signalled that the U.S. may not attack imminently. The news sent WTI sinking 1.6% to US$60.20 when markets closed. The macro-uncertainty pushed silver 6.6% higher to a record US$92.55, gold up US$40 to $4,625 and Bitcoin 3.75% higher to US$97,585.

As a consequence, energy was by far the biggest winner on the TSX, followed by materials and telcos. Nine sectors gained while tech led the two laggards. The TSX advanced 46 points to a record 32,917. Major movers: CNQ up 4.44%, Nutrien 7.99%, Cenovus 4.54%, Aritzia -6.32% and Shopify -5.94%. On Wall Street: Intel 3.02%, Dow 6.44%, AppLovin -7.61%, Intuit -6.39% and Bank of America -3.78% during bank earnings week. The U.S. 10-year yield held at 4.14%.

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +3.75%

🛢 Canadian Natural Rsrcs (CNQ-T) +4.44%

🌿 Nutrien Ltd. (NTR-T) +7.99%

🛢 Cenovus Energy (CVE-T) +4.54%

👗 Aritzia Inc. (ATZ-T) -6.32%

🛍 Shopify Inc. (SHOP-T) -5.94%

💾 Intel (INTC-Q) +3.02%

💾 AppLovin Corporation (APP-Q) -7.61%

💾 Intuit Inc. (INTU-Q) -6.39%

🏛 Bank of America (BAC-N) -3.78%