Stocks fade as central banks hold rates

Allan Tong Posted On July 30, 2025

Markets eagerly awaited the latest interest rate decisions by the U.S. Fed and Bank of Canada on Wednesday. There were few surprises, though, as the banks held rates at 4.3% and 2.75%, respectively, citing uncertainty caused by Trump’s tariffs. The S&P ended the session -0.12%, the Nasdaq up 0.15%, the Dow -0.38% and the TSX -0.58% after just making a record high.

On Wall Street, major movers included Nvidia up 2.14% to continue its record run, Generac soaring 19.61%, Freeport McMoRan -9.46% and GE Healthcare -7.82%. After the close, Meta reported and shot up 10% while Microsoft posted its quarter and rallied nearly 7%. The U.S. 10-year yield held at 4.368% while Bitcoin sank over US$200 to US$117,270. In Toronto, only utilities saw any gains as healthcare and materials lead the sell off. Major movers: Parex 6.34%, Manulife -2.01%, Capital Power -6.87%, Hudbay Minerals -6.55%, and Intact Financial -6.47%. Gold sank US$51 to US$3,275 while WTI rose US$1.20 to US$70.40.