Stocks climb, oil sinks
On Wednesday, Wall Street rallied before the American Thanksgiving break while rising supplies pressured crude oil prices. With ten of 11 sectors up, the S&P closed 0.59% to stay above 4,000, the Nasdaq added nearly 1%, and the Dow climbed 0.28%.
Major movers included Tesla which rebounded 7.82% after a recent sell-off, Deere which jumped 5% on a positive quarter, Warner Bros. Discovery which also popped 5% and Nvidia which rallied 3%. Energy was the day’s big loser, with Schlumberger for example sinking 4.14%. The U.S. 10-year yield inched down to 3.693% while Bitcoin rose 2% to $16,500.
WTI sank 4.35% to $77 a barrel and WCS lost 6% to trade at $50.75. Energy was the biggest laggard on the TSX, though most sectors rallied, starting with tech and utilities. Making moves were Converge Technology Solutions soaring 22.56% after announcing a “strategic review,” Algonquin Power regaining 2.4% after recent sharp selling, Innergex Renewable Energy rising 4.26%, though West Fraser Timber closed -3.77% and Capstone Copper -3.3%. Wall Street will be closed tomorrow, but Toronto will be open as usual.
🚗 Tesla Motors Inc (TSLA-Q) +7.82%
🦌 Deere & Co. (DE-N) +5%
📺 Warner Bros. Discovery (WBD-Q) +5%
💾 Nvidia Corp (NVDA-Q) +3%
🛢 Schlumberger Ltd. (SLB-N) -4.14%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2%
💾 Converge Technology Solutions (CTS-T) +22.56%
💡 Algonquin Power & Utilities Corp (AQN-T) +2.4%
♻ Innergex Renewable Energy (INE-T) +4.26%
🌲 West Fraser Timber (WFG-T) -3.77%
⛏ Capstone Copper Corp (CS-T) -3.3%
