Powell holds, Google slides, Mickey soars
To little surprise, U.S. Fed Chair Jerome Powell maintained the key lending rate amid Trump’s ongoing tariff war and the uncertainty it has created. Markets in New York and Toronto did climb after the mid-afternoon announcement to end a choppy session. The S&P rose 0.43%, the Nasdaq 0.27% and the Dow 0.7%. The U.S. 10-year yield edged down to 4.269%.
Major movers on Wall Street included Rockwell Automation, up 11.9%, Nvidia 3.1% and Charles River Laboratories 18.68%. Making headlines was Alphabet after Apple announced that Google’s internet search saw its first ever decrease (last April). GOOG sank 7.26%. Meanwhile, Disney reported a top and bottom line beat, plus an upbeat forecast, which sent shares soaring 10.76%.
In Toronto, nine sectors rallied, led by tech and industrials, to push the TSX 0.75% higher. Major movers included Enbridge up 1.84%, Whitecap Resources 1.17%, Premium Brands International 9.45% and Spin Master 6.71%. In commodities, gold declined US$63 to US$3,368 while WTI sank 2% to US$57.90.
🚚 Rockwell Automation Inc. (ROK-N) +11.9%
💾 NVIDIA Corporation (NVDA-Q) +3.1%
🧫 Charles River Labs Intl (CRL-N) +18.68%
🧮 Alphabet Inc (GOOG-Q) -7.26%
🕵️♀️ Walt Disney Co. (DIS-N) +10.76%
🛢 Enbridge (ENB-T) +1.84%
🛢 Whitecap Resources (WCP-T) +1.17%
🥫 Premium Brands Holdings Corp (PBH-T) +9.45%
🧸 Spin Master Corp (TOY-T) +6.71%
