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Markets recovered some of the ground lost in previous days upon comments made by the U.S. Fed’s Jerome Powell and after the Bank of Canada held interest rates. However, the initial rally lost steam by the end of the session. The TSX managed to to gain 0.3% as most sectors rose, led by staples and materials.
Notable names included Baytex up 3.1%, Paramount Resources at -12.37%, and Nuvei -10.34% after reporting. Lithium Americas popped 7.73% and Orla Mining climbed 6.69% as minerals continued to rally just as PDAC, the mining conference in Toronto, wound down. By the way, gold continue to break new highs as the spot price touched $2,153.
American stocks saw some recovery. The Nasdaq rose 0.59% to return above 16,000, the S&P added 0.54% to surpass 5,100, and the Dow climbed 0.21%. Key names included Pfizer up 4.06%, Tesla -2.24%, Albemarle rebounding 9.02%, Morgan Stanley at -3.77% and New York Community Bank jumping 7.45% after recently plunging. The U.S. 10-year yield edged down 4.108% as Bitcoin rallied 4.65% to $66,700.
🛢 Baytex Energy Corp (BTE-T) +3.1%
🛢Paramount Resources (POU-T) -12.37%
💾 Nuvei Corp (NVEI-T) -10.34%
⛓ Lithium Americas Corp (LAC-T) +7.73%
⛏ Orla Mining (OLA-T) +6.69%
💉 Pfizer Inc (PFE-N) +4.06%
🚗 Tesla Inc (TSLA-Q) -2.24%
⛏ Albemarle Corp (ALB-N) +9.02%
🏛 Morgan Stanley (MS-N) -3.77%
🏛 New York Community Bankcor Inc. (NYCB-N) +7.45%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +4.65%
