Markets climb on easing U.S. inflation

Wednesday saw the release of July’s consumer inflation print in the U.S. which reflected the four-straight month of declines. The numbers were modestly lower than what the street expected, reinforcing the belief that the U.S. Fed will cut interest rates in September. The S&P added 0.4%, the Nasdaq 0.1% and the Dow by 0.66%. Kellanova stole headlines, though, when Mars announced it was buying the snack company for US$36 billion in the biggest deal of 2024.

Other notable names: Tesla -3.02%, Albemarle -5.65%, Progressive Corp. 5.41% and Charles Schwab 4.8%. The U.S. 10-year yield edged down to 3.837% while Bitcoin slumped 2.5% to US$59,000.

Similarly, the TSX rose 0.54% in overall positive trading. CAE reported a beat and rallied 5%, though Franco-Nevada missed and sank 4.8%. Tilray announced it was buying several beer brands from Molson’s and jumped 4.33% while Element Fleet Management climbed 5.62%. CNQ added 1.02% as the most-active name. Gold retreated US $17 to US$2,447 an ounce while WTI slipped 1.6% to US$77.

🚗 Tesla Inc (TSLA-Q) -3.02%

⛏ Albemarle Corp (ALB-N) -5.65%

🏛 Progressive Corporation (PGR-N) +5.41%

🏛 Charles Schwab Corp (SCHW-N) +4.8%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2.5%

🚚 CAE Inc (CAE-T) +5%

⛏ Franco-Nevada Corp. (FNV-T) -4.8%

🌿 Tilray Inc. (TLRY-Q) +4.33%

🏛 Element Fleet Management (EFN-T) +5.62%

🛢 Canadian Natural Rsrcs (CNQ-T) +1.02%