Bitcoin surges as stocks fade

Continuing its rally, Bitcoin broke $60,000 during Wednesday trading and finished the day 4.8% higher just below that mark. Meanwhile, stocks in New York and Toronto showed weakness with the S&P closing -0.39%, the Nasdaq -0.67% to fall below 16,000, and the Dow -0.17%.

Earnings drove the the headline stocks on Wall Street. Ebay beat and shares jumped 7.81%, Bumble stumbled and finished -14.8%, while Beyond Meat surprised many with a solid beat and soared 30.72%. Elsewhere, Alphabet (A shares) closed -1.86%. The U.S. 10-year yield hovered around 4.264%.

The TSX ended the session -0.36% with nearly all sectors down, led by staples, industrials and real estate. Consumer discretionary was a rare gainer. Trading the most hands were Suncor up 1.01% and Manulife at -1.16%. Parkland closed -6.19% after reporting disappointing revenues. Banks continued to report. Royal rallied in the morning but closed -0.22% on a positive, but not overwhelming quarter, though National jumped 2.32%. WTI crude declined 0.5% to $78.40.

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +4.8%

🛍 eBay Inc (EBAY-Q) +7.81%

💾 Bumble (BMBL-Q) -14.8%

🥩 Beyond Meat Inc. (BYND-Q) +30.72%

🧮 Alphabet Inc (GOOG-Q) -1.86%

🛢 Suncor Energy Inc (SU-T) +1-01%

🏛 Manulife Financial (MFC-T) -1.16%

🚚 Parkland Fuel Corp (PKI-T) -6.29

🏛 Royal Bank (RY-T) -0.22%

🏛 National Bank of Canada (NA-T) +2.32%