Markets rise on hopes to end Mideast war

Markets swung to optimism Wednesday that the US and Iran will end the current war, but Iran maintains that no diplomatic talks are happening. Despite that, the S&P climbed 0.54%, the Nasdaq 0.77%, the Dow 0.66% and the TSX 1.38%. As WTI fell 1.2% to US$91.25, gold advanced by as much to US$4,530 and silver climbed 0.6% to US$71.60. On Bay Street, materials led the rally with Barrick rallying 2.84%, SSR Mining 7.08% and Hudbay Minerals 6.3%. Industrials and discretionary also excelled while telcos were the only lagging sector, and not by much. Elsewhere, Cenovus increased 2.37% while Boralex soared 10.97% on news that the Caisse de Depot and Brookfield Asset Management (2.32%) were buying out the renewable.

In New York, Super Micro Computer rallied 8.19%, Hewlett Packard 7.87%, Intel 7.07% and AMD 7.26%, though Sandisk slid 3.5%. Bitcoin recovered US$700 to $70,765 while the U.S. 10-year yield held at 4.33%.

⛏ Barrick Mining (ABX-T) +2.84%

⛏ SSR Mining (SSRM-T) +7.08%

⛏ Hudbay Minerals (HBM-T) +6.3%

🛢 Cenovus Energy (CVE-T) +2.37%

💡 Boralex Inc. (BLX-T) +10.97%

💾 Super Micro Computer (SMCI-Q) +8.19%

💾 Hewlett-Packard Co (HPQ-N) +7.87%

💾 Intel (INTC-Q) +7.07%

💾 Advanced Micro Devices (AMD-Q) +7.26%

💾 Sandisk Corp (SNDK-Q) -3.5%