Retail weighs on stocks, yield declines
Wednesday saw a mostly down day in trading, highlighted by American retail stocks. In particular, Target sank over 13% after warning of soft holiday sales ahead. The retail chain helped drag the S&P down by 0.83% below 4,000, the Dow shed only 0.12% while the Nasdaq slipped 1.54%.
Major movers on Wall Street included the semis with AMD sliding 4.81% and Intel losing 3.84%. Elsewhere, cruise line Caribbean sank 13.71% and Tesla skidded by 3.86%. In contrast, TJX surged 5.19%. The U.S. 10-year yield ticked down to 3.694% as Bitcoin retreated 2% to around $16,500.
Canadian stocks fared a little better with the TSX shedding only 0.18%. Half the sectors were positive, led by consumer staples and industrials while energy and materials led the laggards. Big gainers were Stelco, popping 10.88% and fast-food giant QSR delivering a 7% rise. However, Lundin Mining closed -3.39%, CNQ -2.29% and Vermilion -5.88%.
🛒 Target Corp (TGT-N) -13%
💾 Advanced Micro Devices (AMD-Q) -4.81%
💾 Intel (INTC-Q) -3.84%
🚢 Royal Caribbean Cruises (RCL-N) -13.71%
🚗 Tesla Motors Inc (TSLA-Q) -3.86%
👗 TJX Companies (TJX-N) +5.19%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -2%
⛓ Stelco Holdings Inc. (STLC-T) +10.88%
🍱 Restaurant Brands International (QSR-T) +7%
⛏ Lundin Mining Corp. (LUN-T) -3.39%
🛢 Canadian Natural Rsrcs (CNQ-T) -2.29%
🛢 Vermilion Energy Inc (VET-T) -5.88%