Relief rally despite hot inflation

A bearish week ended on a positive note after the New York indices rose nearly 1% higher on Friday and the TSX gained 0.54% or nearly 200 points. For the week, however, the S&P sank 1.2%, the Dow shed more than 2% and the Nasdaq slipped about 1%. The TSX sank 2.5% despite crude oil topping $100. WTI gave back 2.2% on Friday, but still traded at US$100 as the U.S.-Iran war rages. August inflation came in at 3.4%, in line with expectations, but still far from the Fed’s 2.0% target. The U.S. 10-year yield rose to another 52-week high of 4.971% as odds of a rate hike keep climbing.

Key names on Bay Street: Boyd Group up 10.51%, TC Energy -1.54%, Descartes 6.87%, Celestica 6.64% and Denison Mines -6.26%.By far, tech was the strongest sector in Toronto while healthcare led four sectors down. Movers on Wall Street: Hewlett Packard 12.44%, Dell 11.98%, Intel 2.61%. Albemarle -3.76% and Seagate -3.7%. Meanwhile, silver gained 1.3% to US$64.25 and gold $30 to US$4,349. Bitcoin increased US$115 to US$77,360.

🚗 Boyd Group Services Inc. (BYD.TO) +10.51%

🛢 TC Energy (TRP.TO) -1.54%

💾 Descartes (DSG.TO) +6.87%

🧬 Celestica Inc (CLS.TO) +6.64%

⛏ Denison Mines Corp (DML.TO) -6.26%

💻 Hewlett Packard Enterprise Co. (HPE) +12.44%

💾 Dell Computers (DELL) +11.98%

💾 Intel (INTC) +2.61%

⛏ Albemarle Corp (ALB) -3.76%

🧬 Seagate Technology (STX) -3.7%