Inflation data lifts markets, Starbucks shake-up
Tuesday morning saw the latest U.S. producers’ inflation print come in lower than expected, which sparked a broad rally in New York. Both the Nasdaq and Dow jumped over 400 points or 2.31% and 1.03% respectively, while the S&P rose 1.59%.
Major movers included Estee Lauder up 6.73%, Nvidia 6.17%, and Intel 5.55%. However, Starbucks captured the biggest headlines by poaching Chipotle‘s CEO. The coffee chain rocketed 23.61% while the fast food company sank 7.27%. With the lower inflation number, investors increasingly expect the U.S. Fed to cut interest rates in September, while yields sank Tuesday. The 10-year slipped to 3.852%. Meanwhile, Bitcoin rallied 3.5% to US$60,900.
The TSX enjoyed its own rally, climbing 0.88%. Major movers: BlackBerry up 5.05%, Manulife 1.66%, Sun Life 4.99% after reporting a beat, Sienna Senior Living -3.28% and SilverCrest Metals 4.14%. Gold gave back US$6 to US$2,466 as WTI crude slid 2% to US$78.50…,,,
💄 Estee Lauder (EL-N) +6.73%
💾 NVIDIA Corporation (NVDA-Q) +6.17%
💾 Intel (INTC-Q) +5.55%
☕ Starbucks (SBUX-Q) +23.61%
🌶 Chipotle Mexican Grill (CMG-N) -7.27%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +3.5%
📱 BlackBerry (BB-T) +5.05%
🏛 Manulife Financial (MFC-T) +1.66%
🏛 Sun Life Financial Inc (SLF-T) +4.99%
👨⚕️ Sienna Senior Living Inc (SIA-T) -3.28%
⛏ SilverCrest Metals Inc (SIL-T) +4.14%
