Canadian inflation rises

Tuesday saw the bears return to the markets. The TSX closed below 21,000 after shedding 0.54%. Unexpectedly, December CPI came in at 3.4%, higher than November’s 3.1%. Sectors were evenly mixed, though strength in staples and telcos couldn’t offset deep losses in energy and materials.

Notable names were Barrick Gold, closing -8.8% after its 2023 gold production fell short of guidance. Parex Resources plunged 15.7% after reporting. Elsewhere, TD gave back Monday’s gains by slipping 1.28%, Tilray jumped 6.87% and Kinaxis popped 4.42%. WTI sank 1.25% to trade below $72 a barrel.

Wall Street returned to business with the S&P closing -0.37%, the Nasdaq -0.19% to below 15,000, and the Dow -0.62%. The U.S. 10-year yield returned to 4%. Major movers included chipmakers AMD surging 8.31% and Western Digital 4.45%. However, Boeing closed -7.59%, Bank of America -2.07% and Apple -1.23%. Bitcoin regained 2.25% to nearly $43,500.

🥇 Barrick Gold (ABX-T) -8.8%

🛢 Parex Resources Inc. (PXT-T) -15.7%

🏛 Toronto Dominion (TD-T) -1.28%

🌿 Tilray Inc. (TLRY-Q) +6.87%

💾 Kinaxis Inc (KXS-T) +4.42%

💾 Advanced Micro Devices (AMD-Q) +8.31%

💾 Western Digital (WDC-Q) +4.45%

🛫 Boeing (BA-N) -7.59%

🏛 Bank of America (BAC-N) -2.07%

🍎 Apple Inc (AAPL-Q) -1.23%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.25%