Energy lifts TSX, Wall Street weakens
Wednesday saw crude oil’s ongoing rally lift the TSX 0.34% higher, helped by a strong showing in consumer staples, industrials and utilities, while discretionary names lagged. WTI jumped another 1.6% way past $84 a barrel.
Major movers in Toronto included Vermilion Energy up nearly 6%, CAE soaring 8.04% on a strong quarter, Stella-Jones popping 4.8%, though Tilray gave back 5.42% after its recent rally, and Nuvei plunged nearly 40% on a disappointing quarter.
News of deflation in China’s consumer sector challenged Wall Street which faces American inflation data in the days ahead. The S&P closed -0.7% to trade below 4,500, the Nasdaq -1.17%, and the Dow -0.54%. Most sectors were in the red. Tesla finished -3.01%, Nvidia -4.72%, Paramount Global -4.46%, Broadcom -3.67% and Fortinet 2.07%. The U.S. 10-year yield held at 4.014% while Bitcoin declined 1% to $29,500.
🛢 Vermilion Energy Inc (VET-T) +6%
🚚 CAE Inc (CAE-T) +8.04%
🌲 Stella-Jones Inc. (SJ-T) +4.8%
🌿 Tilray Inc. (TLRY-Q) -5.42%
💾 Nuvei Corp (NVEI-T) -40%
🚗 Tesla Inc (TSLA-Q) -3.01%
💾 NVIDIA Corporation (NVDA-Q) -4.72%
🎞 Paramount Global (PARA-Q) -4.46%
💾 Broadcom (AVGO-Q) -3.67%
💻 Fortinet Inc (FTNT-Q) +2.07%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1%
