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    Retail lifts stocks, but oil falls

    Allan Tong Posted On August 16, 2022
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    Earnings by American retailers helped lift American stocks, while the TSX managed to gain despite the ongoing decline in crude oil prices. In New York, The S&P added 0.19% and the Dow 0.71% while the Nasdaq closed -0.19%.

    Noteable gainers were Walmart, jumping 5.11%, Best Buy up 4.45% and Bath & Body Works at 4.07%. Also up were Take-Two Interactive by 7.22% and Carnival at 4.48%. However, Moderna shed 5%. The U.S. 10-year yield inched up to 2.813% while Bitcoin slipped 0.5% to hover right below $24,000.

    Oil continued to struggle as WTI fell 3.33% to around $86.50 as WCS fell slightly more to $67 a barrel. That didn’t stop the TSX from rising 0.45% to 20,269. Consumer staples and tech were particularly strong. Moving up were AutoCanada, racing ahead by 7.41%, First Quantum Minerals which surged 3.72% and Canadian Tire which added 3.47%. As earnings approach, the banks rallied. TD climbed 1.54% and BMO 1.26%. Unsurprisingly, oil stocks lagged. Baytex closed -4.48%, Athabasca Oil -3.85% and Tamarack Valley Energy -3.92%.

    🛒 Walmart Inc (WMT-N) +5.11%
    🛍 Best Buy Company Inc (BBY-N) +4.45%
    🛍 Bath & Body Works (BBWI-N) +4.07%
    💾 Take-Two Interactive Softwar (TTWO-Q) +7.22%
    🚢 Carnival Corp. (CCL-N) +4.48%
    💉 Moderna (MRNA-Q) -5%
    🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.5%
    🛍 AutoCanada Inc. (ACQ-T) +7.41%
    ⛏ First Quantum Minerals (FM-T) +3.72%
    🛒 Canadian Tire Corporation Ltd. (A) (CTC.A-T) +3.47%
    🏛 Toronto Dominion (TD-T) +1.54%
    🏛 Bank of Montreal (BMO-T) +1.26%
    🛢 Baytex Energy Corp (BTE-T) -4.48%
    🛢 Athabasca Oil Sands Corp (ATH-T) -3.85%
    🛢 Tamarack Valley Energy (TVE-T) -3.92%

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