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After initial weakness, Thursday’s markets in Toronto and New York climbed and stayed positive throughout the session to extend Wednesday’s gains. Dovish comments by the U.S. Fed’s Jay Powell triggered a surge in stocks late Wednesday. On Thursday, the New York benchmarks rose over 1% with the S&P reaching as far as 1.21%. The TSX added 1.05%.
Tech saw notable gains: Adobe up 2.73% and Microsoft 2.85%. Ford advanced 6.14% while Carnival rose 2.82% on a positive quarter. On the flipside, Meta/Facebook got crushed by 5.22% after issuing a disappointing quarter late Wednesday. Earnings continued to dominate Wall Street. After the bell, Amazon reported a beat and shares popped, but Intel missed and shares sank. It was basically green across the board. The U.S. 10-year yield slipped to 2.678% though Bitcoin surged 4.5% to $23,800.
Notable gainers in Toronto included Canadian Apartment REIT up 3.57%, utilities Boralex at 2.86% and Algonquin up 2.24%, and cannabis names Fire & Flower Holdings up 13.53% and Tilray 11.72%. Heading south were Athabasca Oil down 5.37%, Lundin Mining losing 3.05% and Tidewater Midstream sinking 6.87%. WTI crude was flat while WCS lost a dollar to $76.
💾 Adobe Systems (ADBE-Q) +2.73%
Ⓜ Microsoft (MSFT-Q) +2.85%
🚘 Ford Motor (F-N) +6.14%
🚢 Carnival Corp. (CCL-N) +2.82%
🕵️♂️ Meta Platforms, Inc. (META-Q) -5.22%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +4.5%
🏛 Canadian Apartment Properties (CAR.UN-T) +3.57%
♻ Boralex Inc. (BLX-T) +2.86%
♻ Algonquin Power & Utilities Corp (AQN-T) +2.24%
🌿 Fire & Flower Holdings (FAF-T) +13.53%
🌿 Tilray Inc. (TLRY-Q) +11.72%
🛢 Athabasca Oil Sands Corp (ATH-T) -5.37%
⛏ Lundin Mining Corp. (LUN-T) -3.05%
🛢 Tidewater Midstream and Infrastructure Ltd (TWM-T) -6.87%
