Inflation roils markets
January’s U.S. producer’s inflation numbers came in higher than expected, pressuring stocks across many sectors on Thursday. The sell-off was pronounced in the final hour of trading. The S&P closed -1.38%, the Nasdaq -1.78% to fall below 12,000, and the Dow -1.26%.
Major movers were Tesla at -5.27%, Cisco up 5.16% after an earnings beat, AMD -5.38%, Albemarle 5.22% and Etsy -8.4%. The U.S. 10-year yield rose to 3.85% while Bitcoin rallied over 2% to $24,500.
The TSX was mixed with materials and consumer discretionary showing strength, but tech and energy tumbling. The TSX declined 0.55%. Notable mover were Canadian Tire (A class) jumping TSX 5.05%, Teck Resources 4.98%, Manulife 3.79%, but Cenovus finishing -4.46% and Shopify tanking 15.47% after issue lacklustre guidance.
🚗 Tesla Inc (TSLA-Q) -5.27%
💾 Cisco (CSCO-Q) +5.16%
💾 Advanced Micro Devices (AMD-Q) -5.38%
⛏ Albemarle Corp (ALB-N) +5.22%
🛍 Etsy Inc. (ETSY-Q) -8.4%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2%
🛒 Canadian Tire Corporation Ltd. (A) (CTC.A-T) +5.05%
⛏ Teck Resources Ltd. (B) (TECK.B-T) +4.98%
🏛 Manulife Financial (MFC-T) +3.79%
🛢 Cenovus Energy (CVE-T) -4.46%
🛍 Shopify Inc. (SHOP-T) -15.47%
