Crude oil and data lifts markets
Drawdowns in America’s oil supply and economic data hinting at waning inflation drove Wednesday’s markets. The TSX rallied 0.73%, the Dow 0.68% and the S&P and Nasdaq both 0.82%. Aside from energy, the major Dow components enjoyed gains.
Big gainers included Walgreens popping nearly 4%, Adobe up 2.46%, Devon Energy at 7.46% and Ebay by 3.64%. Ford advanced 2.72%, but Clorox slipped nearly 2%.Travel names took a hit as Wynn Resorts slid 6.3% and Las Vegas Sands slid 1.7% as China restricts Macau’s casinos. Apple unveiled its latest iPhone and gained 0.61% as the most-traded stock on Wall Street.
Crude oil led the TSX’s gains. The price of WSC and WTI leapt over 3% to top $72 and $60 per barrel respectively. Aside from energy, financials and industrials also rallied on the TSX. Cenovus surged 5.82%, Suncor 5%, and Crescent Point 6.39%. However, Canada Goose dove 4%, Ballard Power fizzled by 2.64% and Transat sank 3%. The Canadian dollar gained half a penny to flirt with 80 cents while gold slipped below $1,800 an ounce. Bitcoin jumped 3.5% past $48,000.
💊 Walgreen Boots Alliance +4%
💾 Adobe Systems +2.46%
🛢 Devon Energy Corp +7.46%
🛍 eBay Inc +3.64%
🚍 Ford Motor +2.72%
🧴 Clorox Company +2%
♠ Wynne Resorts Ltd. -6.3%
♠ Las Vegas Sands Corp. -1.7%
🍎 Apple +0.61%
🛢 Cenovus Energy +5.82%
🛢 Suncor Energy Inc +5%
🛢 Crescent Point Energy Corp +6.39%
🧣 Canada Goose Holdings -4%
🧬 Ballard Power Systems -2.64%
🛫 Transat AT Inc. -3%
🅱 The Bitcoin Fund +3.5%
