Stocks and oil fade ahead of inflation data
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Wednesday’s pessimism extended into Thursday as oil and stocks both sank, though oil regained some ground. Otherwise, investors are waiting for Friday morning’s key American CPI data. On Wall Street, the S&P closed -2.38%, the Nasdaq -2.75% and the Dow -1.94%. The U.S. 10-year yield held above 3% while Bitcoin gave back 0.6% to dip below $30,000.
Major gainers included NXP Semis by 4.05% and Pool Corp up 2.45%. However, they were outnumbered by the losers: Amazon -4.15%, Apple -3.54%, AMD -3.01% and Carnival -9.16%. All sectors of the S&P were down.
Weakness in crude oil prices weighed on the TSX which closed -1.05%. Tech and financials also lagged. WTI declined 0.66% to $121. Major movers were Baytex up 2.86%, Bombardier down 6.72%, Whitecap Resources -2.47%, Air Transat -2.82% after a weak quarter, and Air Canada -2.3% blaming flight delays and cancellations though assuring a skeptical public that things are improving. Meanwhile, Nutrien rose 2.18% after announcing it will boost fertilizer production.
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.6%
🧬 NXP Semiconductors (NXPI-Q) +4.05%
🚚 Pool Corporation (POOL-Q) +2.45%
📦 Amazon.com (AMZN-Q) -4.15%
🍎 Apple (AAPL-Q) -3.54%
💾 Advanced Micro Devices (AMD-Q) -3.01%
🚢 Carnival Corp. (CCL-N) -9.16%
🛢 Baytex Energy Corp (BTE-T) +2.86%
🚂 Bombardier Inc (B) (BBD.B-T) -6.72%
🛢 Whitecap Resources (WCP-T) -2.47%
🛫 Transat AT Inc. (TRZ-T) -2.82%
✈ Air Canada (AC-T) -2.3%
🌿 Nutrien Ltd. (NTR-T) +2.18%