Rally pauses

Allan Tong Posted On December 20, 2023

Wednesday’s session tried to extend the record-breaking rally, but indices in Toronto and New York faded into the close. The S&P and Nasdaq sank around 1.5% with the Dow doing only slightly better. This despite the U.S. 10-year yield edging down to 3.849%.

Major movers included CVS up 1.29%, Alphabet (class A) at 1.24%, Caesars -5.7%, Tesla -3.92% and FedEx which slid 12.05% after lowering guidance and an earnings miss. Bitcoin rebounded 3.1% to $43,600.

The TSX fell 1.15% as sectors declined, particularly materials, staples, real estate and utilities. Major movers on Bay Street were Aritizia popping 3.24%, Athabasca Oil up 1.48%, Cargojet -7.4%, Kelt Exploration -4.59% and Storagevault -4.58%. Meanwhile, WTI crude declined 0.2% to $73.70.

👨‍⚕️ CVS Health Corp (CVS-N) +1.29%

🧮 Alphabet Inc (GOOG-Q) +1.24%

♠ Caesars Entertainment (CZR-Q) -5.7%

🚗 Tesla Inc (TSLA-Q) -3.92%

📦 FedEx (FDX-N) -12.05%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +3.1%

👗 Aritzia Inc. (ATZ-T) +3.24%

🛢 Athabasca Oil Sands Corp (ATH-T) +1.48%

🛫 Cargojet Inc (CJT-T) -7.4%

🛢 Kelt Exploration (KEL-T) -4.59%

🚚 StorageVault Canada (SVI-T) -4.58%