Hot U.S. inflation, shaky markets
April’s inflation number in the U.S. jumped from 3.3% in March to 3.8% in April, hotter than expected. The increase was driven by high oil prices, caused by the US-Iran war which sees little sign of resolution. The S&P retreated from record highs Tuesday and closed -0.16%, the Nasdaq -0.71% as the AI trade took a breather, and the Dow gained 0.11%. WTI returned to $100 after jumping 4.4% to US$102.40. The U.S. 10-year yield climbed to 4.46%.
Major movers on Wall Street: Intel -6.82%, Micron -3.61%, Tesla -2.6%, Humana 7.69% and Centene 5.23%. In Toronto: Denison Mines -3.24%, Ivanhoe Mines 5.81%, Suncor 2.36%, CNQ 4.06% and ERO Copper 10.29%. Energy and staples were among seven sectors that rallied while tech and healthcare lagged the most. Silver edged up by 0.75% to US$86.65 while gold slipped US$22 to US$4,716. Meanwhile, Bitcoin sank over US$1,000 to US$80,765.
💾 Intel (INTC-Q) -6.82%
💾 Micron Technology (MU-Q) -3.61%
🚗 Tesla Inc (TSLA-Q) -2.6%
👨⚕️ Humana Inc (HUM-N) +7.69%
👨⚕️ Centene (CNC-N) +5.23%
⛏ Denison Mines Corp (DML-T) -3.24%
⛏ Ivanhoe Mines Ltd (IVN-T) +5.81%
🛢 Suncor Energy Inc (SU-T) +2.36%
🛢 Canadian Natural Rsrcs (CNQ-T) +4.06%
🥉 Ero Copper Corp (ERO-N) +10.29%
