Powell nudges Wall Street even higher

Allan Tong Posted On July 10, 2024

Wednesday saw the second day of U.S. Fed Chief Jay Powell facing Congress and again he hinted at making progress in the fight against inflation. His dovish sentiments pushed the S&P and Nasdaq to yet more record closes. Both indices rallied over 1% to 5,633 and 18.647 respectively as once more tech led the way.

Nvidia was the most influential name, surging 2.69%, followed by Apple which rose 1.88% to make a record high. Elsewhere, Albermarle jumped 7.11%, CarMax 6.46% and Walgreens 4.36%. The Dow finished 1.09% higher as the U.S. 10-year yield stayed below 4.3% and Bitcoin declined 1.3% to nearly US$57,300.

This time, the TSX beat its American peers by climbing 1.4% or more than 300 points. Major movers: Cameco 9.4%, CNQ 1.53%, NFI -5.07%, NexGen Energy 8.65% and Denison Mines 6.6%. Gold edged up to US$2,371 and WTI gained US$1 to US$82.40.

💾 NVIDIA Corporation (NVDA-Q) +2.69%

🍎 Apple Inc (AAPL-Q) +1.88%

⛏ Albemarle Corp (ALB-N) +7.11%

🚗 CarMax (KMX-N) +6.46%

💊 Walgreen Boots Alliance (WBA-Q) +4.36%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.3%

⛏ Cameco Corporation (CCO-T) +9.4%

🛢 Canadian Natural Rsrcs (CNQ-T) +1.53%

🚘 New Flyer Industries Inc. (NFI-T) -5.07%

🛢 NexGen Energy (NXE-T) +8.65%

⛏ Denison Mines Corp (DML-T) +6.6%