Stocks recover, yields slip
Wednesday saw the U.S. 10-year-yield retreat from the previous day’s surge and settled around 4.58% by the close. In response, American stocks rallied nearly across the board as the S&P advanced 1.08%, the Nasdaq 1.54% and the Dow 1.31%. In Canada, the TSX jumped 420 points or 1.25% on the strength of materials, discretionary and real estate. Only energy suffered losses as WTI sank 5.5% to US$98.45. Silver climbed 3% to US$75.75, and gold added US$62 to US$4,545.
Key names on Wall Street: Intel 7.36%, Super Micro Computer 9.49% and travel names United Airlines soaring 9.99% and Delta 9.39%. All eyes were on Nvidia after the close. NVDA rose 1.3% for the session, and delivered a revenue beat, raised guidance and announced a large share buyback, but it wasn’t enough to lift the stock after hours. On Bay Street: Goeasy popped 11.81%, Cenovus -4.05%, Bombardier 6.11%, First Majestic Silver 5.64% and Eldorado Gold 5.52%.
💾 Intel (INTC-Q) +7.36%
💾 Super Micro Computer (SMCI-Q) +9.49%
🛫 United Airlines Holdings (UAL-Q) +9.99%
🛫 Delta Air Lines Inc (DAL-N) +9.39%
💾 NVIDIA Corporation (NVDA-Q) +1.3%
🏛 goeasy (GSY-T) +11.81%
🛢 Cenovus Energy (CVE-T) -4.05%
🧬 Bombardier Inc (B) (BBD.B-T) +6.11%
🥈 First Majestic Silver (AG-N) +5.64%
🥇 Eldorado Gold (ELD-T) +5.52%
