Fed comments lift tech stocks
On Thursday, U.S. Fed Reserve Governor, Christopher Waller, said that pricing pressures showed signs of easing, which lowered the street’s expectations of an interest rate hike. This in turn pumped the tech-heavy Nasdaq 1.18% higher, the S&P 1.06% and the Dow 1.18%. Most of the big gainers on Wall Street were tech: Robinhood 16.57%, Nvidia 1.8% and Palantir 7.71%. In contrast Tyson Foods slid 7.26%. The U.S. 10-year yield edged down slightly to 4.772% while Bitcoin jumped 5.35% to US$81,525 and Coinbase rallied 10.14%.
In Toronto, the TSX jumped nearly 1.5% or close to 540 points after all but energy rallied. By far, tech and materials were the strongest sectors as silver rallied 2.5% to US$66.80 and gold added 2% to US$4,470. Major movers on Bay Street: Celestica 11.26%, Barrick 3.14%, Denison Mines 5.39% and Boyd Group 5.16%. Meanwhile, WTI climbed around 0.75% to US$91.70 with no end in sight to the U.S.-Iran war, though CNQ slid 1.54%.
🏛 Robinhood (HOOD) +16.57%
💾 NVIDIA Corporation (NVDA) +1.8%
💾 Palantir Technologies (PLTR) +7.71%
🍱 Tyson Foods Inc. (TSN) -7.26%
🅱 Bitcoin (BTCUSD) (BTC-USD) +5.35%
🏛 Coinbase Global (COIN) +10.14%
🧬 Celestica Inc (CLS.TO) +11.26%
⛏ Barrick Mining (ABX.TO) +3.14%
⛏ Denison Mines Corp (DML.TO) +5.39%
🚗 Boyd Group Services Inc. (BYD.TO) +5.16%
🛢 Canadian Natural Rsrcs (CNQ.TO) -1.54%
