Markets stabilize after rout
After Tuesday’s rout and hot U.S. consumer inflation numbers, Wednesday saw stability return to markets as producer’s inflation numbers were in-line with expectations. Those figures were held in check by crude oil prices falling in August. On Wednesday, the S&P closed 0.34%, the Nasdaq 0.74 and the Dow added 0.1%. Tech, which led Tuesday’s sell-off, saw consistent gains on Wednesday.
Heading up were Tesla by 3.55%, Comcast up 2.84% as well as Starbucks rising 5.31% and Moderna climbing 5.81% as healthcare looked robust. In contrast, Nucor sank 11.75% and Dish Network slid 6.55%. The U.S. 10-year yield inched down to 3.412% while Bitcoin sank 1.5% below $20,000.
In Toronto, stocks added 0.31% as WTI rose 1.5% to nearly $89. Energy rallied while real estate and staples were weak. Big gainers were New Gold up 9.71%, Suncor at 1.88%, CNQ 2.37% and Cenovus by 5.18%. Moving down were BCE at-2.26% and SNC-Lavalin at -2.97%.
🚗 Tesla Motors Inc (TSLA-Q) +3.55%
📺 Comcast Corp (CMCSA-Q) +2.84%
☕ Starbucks (SBUX-Q) +5.31%
💉 Moderna (MRNA-Q) +5.81%
⛓ Nucor Corp. (NUE-N) -11.75%
📺 DISH Network Corporation (DISH-Q) -6.55%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.5%
🥇 New Gold Inc. (NGD-T) +9.71%
🛢 Suncor Energy Inc (SU-T) +1.88%
🛢 Canadian Natural Rsrcs (CNQ-T) +2.37%
🛢 Cenovus Energy (CVE-T) +5.18%
📡 BCE Inc. (BCE-T) -2.26%
♻ SNC-Lavalin Group Inc. (SNC-T) -2.97%
