Light U.S. inflation data sparks rally
Lighter-than-expected U.S. inflation numbers propelled a strong rally early Tuesday, but those gains faded throughout the day. Nonetheless, the S&P still gained 0.73%, the Nasdaq 1.01%, and the Dow 0.3%. Meanwhile, crude oil rally as WTI popped 3% to $75.
Tech enjoyed outsized gains, such as Meta up 4.74%. Halliburton surged 8.31%, but airlines sank like United which closed -6.75%. Moderna rocketed over 20% on positive news on its skin cancer drug. However, Tesla continued to sink, losing another 3.92%. The U.S. 10-year yield slipped 30 3.508%.
The TSX was flat for the day, but stayed above 20,000. Most sectors were positive, led by consumer staples and materials. Financials led the laggards, such as BMO at -1.79% and TD at -2.74%. Barrick Gold rallied 3.91% and Suncor added 1.96%. Brookfield Asset Management, which just spun off ticker BN-T, fell 7.08%.
🕵️♂️ Meta Platforms Inc / Facebook (META-Q) +4.74%
🛢 Halliburton Co (HAL-N) +8.31%
🛫 United Airlines Holdings (UAL-Q) -6.75%
💉 Moderna (MRNA-Q) +20%
🚗 Tesla Motors Inc (TSLA-Q) -3.92%
🏛 Bank of Montreal (BMO-T) -1.79%
🏛 Toronto Dominion (TD-T) -2.74%
🥇 Barrick Gold (ABX-T) +3.91%
🛢 Suncor Energy Inc (SU-T) +1.96%