Mixed day before U.S. Fed hike
Tuesday markets in Toronto and New York were mixed following Monday’s rout which saw the TSX enter a correction and New York’s indices a bear market. The S&P closed -0.37%, the Nasdaq 0.32% and the Dow -0.5% after opening in slight positivity and sinking for much of the day. Meanwhile, the U.S. 10-year yield continued to climb, hitting 3.479% while Bitcoin slid further to nearly $22,000.
Big movers included FedEx which soared 14.41% after raising its dividend over 50% and overhauling its executive suite. Oracle jumped 10.51%, Boeing 4.73% and Ford 3.34%. Meanwhile, Carnival closed -4.19%, Crown Castle -4.81%, Royal Caribbean -4.41% and American Airlines -2.82% as travel names took a hit.
Weakness in energy and utilities pressured the TSX down nearly 1%. WTI crude fell to nearly $118 a barrel and WCS to below $100. Baytex fell 4.85%, Crescent Point slid 4% and Air Canada dipped nearly 5%. Meanwhile, Bombardier tanked by 18.21%. In contrast, weed names like Aurora surged about 7% as Nutrien climbed 4%. Meanwhile, the market waits for the U.S. Fed to announce its next interest hike, widely expected to be 75 basis points.
📦 FedEx (FDX-N) +14.41%
💾 Oracle (ORCL-N) +10.51%
🛫 Boeing (BA-N) +4.73%
🚘 Ford Motor (F-N) +3.34%
🚢 Carnival Corp. (CCL-N) -4.19%
🏛 Crown Castle International (CCI-N) -4.81%
🚢 Royal Caribbean Cruises (RCL-N) -4.41%
🛫 American Airlines Group (AAL-Q) -2.82%
🛢 Baytex Energy Corp (BTE-T) -4.85%
🛢 Crescent Point Energy Corp (CPG-T) -4%
🛫 Air Canada (AC-T) -5%
🚂 Bombardier Inc (B) (BBD.B-T) -18.21%
🌿 Aurora Cannabis (ACB-T) +7%
🌿 Nutrien Ltd. (NTR-T) +4%
