Materials lead modest rebound
Wednesday’s markets regained some of the ground they lost the day before, led by a rally in materials. Silver popped 2% to US$65.20 and gold advanced nearly $60 to US$4,387 while the best performers in Toronto were all metals: Endeavour Silver 8.15% and Silvercorp 7.14%, for instance. The TSX regained 0.74% or 265 points as sectors were mixed. However, a strong showing in materials, healthcare and financials outbid weakness from tech. Celestica sank 5.62% and BlackBerry slid 3.13% Although WTI crude edged up 0.45% to US$90.65 as the U.S. and Iran continued to trade fire, stocks such as Enbridge slipped 1.19%. The Bank of Canada held its key rate at 2.25% to little surprise.
In New York the main indices gained half a percent. Tech once again made the biggest moves: Dell 15.81%, Nvidia 3.21%, Reddit 9.31% and Palo Alto -9.28%. Meanwhile, PG&E slipped 5.19%. The U.S. 10-year yield edged down to 4.782% as Bitcoin held at US$77,465.
🥈 Endeavour Silver Corp. (EDR.TO) +8.15%
🥈 Silvercorp Metals Inc. (SVM.TO) +7.14%
🧬 Celestica Inc (CLS.TO) -5.62%
📱 BlackBerry (BB.TO) -3.13%
🛢 Enbridge (ENB.TO) -1.19%
💻 Dell Computers (DELL) +15.81%
💾 NVIDIA Corporation (NVDA) +3.21%
💻 Reddit Inc. (RDDT) +9.31%
💾 Palo Alto Networks (PANW) -9.28%
💡 PG&E Corp (PCG) -5.19%
