Banks drag down TSX
On Wednesday, the first bank reports dragged down the TSX, which closed more than 1% lower and fell below 20,000. BMO reported a serious miss and sank 3.91%. Financials as well as materials and industrials led most sectors down with consumers staples being the only sector enjoying any real gains.
Other major movers were Manulife at -2.23%, Shopify up 1.79% as a rare bright spot and Dye & Durham sliding 8.11%.
On Wall Street, ongoing squabbling in Washington to resolve the lingering debt ceiling crisis continued to wear on American markets. The S&P finished -0.73%, the Nasdaq -0.61%, and the Dow -0.77% to tumble below 32,800. All sectors except energy finished int he red as WTI spiked 1.3% to nearly $74 a barrel. Notable movers were Analog Devices sinking 7.83% after reporting a miss, Palo Alto surging 7.68% after a strong beat, Intuit falling 7.53%, and Netflix gaining 2.47%. Nvidia reported after the bell and shares soared after hours. The U.S. 10-year yield was 3.734%, and Bitcoin slid 3.5% to $26,200.
🏛 Manulife Financial (MFC-T) -2.23%
🛍 Shopify Inc. (SHOP-T) +1.79%
💾 Dye & Durham (DND-T) -8.11%
💾 Analog Devices (ADI-Q) -7.83%
💾 Palo Alto Networks (PANW-N) +7.68%
💻 Intuit Inc. (INTU-Q) -7.53%
📺 Netflix Inc. (NFLX-Q) +2.47%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -3.5%