Stocks lacked direction Wednesday though inflation fears lingered. The TSX closed -0.76% as most sectors were in the red apart from consumer staples and industrials.
WTI sank over 2% to $109 and several energy names declined with it, including Whitecap Resources which tanked 6.46% (after announcing an acquisition) and Crescent Point down 7.59%, Baytex losing 6.47% and Cenovus sliding 4.51%. Moving up were Boyd Group by 2%, Weston by 2.79% and Alamos Gold at 4.35%.
On Wall Street, the S&P and Nasdaq were flat while the Dow gained 0.27%. Major gainers were General Mills up 6.35%, Amazon 1.42% and Meta 2%. Heading down were AMC at -3.45%, Carnival -14.13% and Nvidia -2.75%. The U.S. 10-year yield returned stood at 3.1% while Bitcoin was flat at $20,250. U.S. Fed chief Jay Powell offered some optimism by stating that the U.S. economy is in good shape and that the Fed can avert a recession.
🛢 Whitecap Resources (WCP-T) -6.46%
🛢 Crescent Point Energy Corp (CPG-T) -7.59%
🛢 Baytex Energy Corp (BTE-T) -6.47%
🛢 Cenovus Energy (CVE-T) -4.51%
🛍 Boyd Group Services Inc. (BYD-T) +2%
🍱 George Weston Ltd. (WN-T) +2.79%
🥇 Alamos Gold Inc (AGI-T) +4.35%
🥫 General Mills (GIS-N) +6.35%
📦 Amazon.com (AMZN-Q) +1.42%
🕵️♂️ Meta Platforms Inc / Facebook (FB-Q) +2%
🎞 AMC Entertainment Holdings Inc. (AMC-N) -3.45%
🚢 Carnival Corp. (CCL-N) -14.13%
💾 Nvidia Corp (NVDA-Q) -2.75%