China’s stimulus disappoints

On Tuesday, Beijing revealed details of its economic stimulus plan to revive the flagging Chinese economy, but it disappointed stock markets in North America initially. By the close, though, markets saw some gains: the S&P was up 0.7%, the Nasdaq 1.45% and the Dow 0.3%.

Major mover: Palantir 6.58%, Nvidia 4.05% as the most-active name, though Super Micro Computer closed -5.01%. Oil slumped as WTI slid more than 4% to below US$74 a barrel; Marathon Petroleum closed -7.66% and Valero Energy -5.31%. The U.S. 10-year yield held round 4.016% while Bitcoin declined 1.25% to US$62,200.

In Toronto, the TSX gave back 30 points in mixed trading. Tech excelled, but energy and materials lagged the most. Major movers: Baytex -3.93%, Shopify 2.33%, Tamarack Valley Energy -2.12% and Badger Infrastructure 2.96%. Gold slipped US$20 to US$2,622.

💾 Palantir Technologies (PLTR-N) +6.58%

💾 NVIDIA Corporation (NVDA-Q) +4.05%

💾 Super Micro Computer (SMCI-Q) -5.01%

🛢 Marathon Petroleum (MPC-N) -7.66%

🛢 Valero Energy Corp (VLO-N) -5.31%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.25%

🛢 Baytex Energy Corp (BTE-T) -3.93%

🛍 Shopify Inc. (SHOP-T) -2.33%

🛢 Tamarack Valley Energy (TVE-T) -2.12%

🛢 Badger Daylighting (BDGI-T) +2.96%