Stocks soar on light inflation data
On Thursday morning, U.S. CPI data came in slightly lighter than expected, but triggered a sharp rebound in stocks across the board. Volumes were higher than usual and the session closed on strength. The S&P vaulted 5.53% to nearly 4,000, the Nasdaq jumped 7.35% beyond 11,000, and the Dow added 3.69%. All sectors were positive and the Nasdaq enjoyed its best day in two years. Megacap tech, which has beaten down lately, led gains.
Amazon jumped 11.79%, Tesla 6.68%, Apple 7.91 and Meta 10.37% as the most-traded stocks on Wall Street. Elsewhere, Caesars Entertainment soared 18.9% and Invesco 18.29%. Meanwhile, the U.S. 10-year sank to 3.827% though Bitcoin recovered some ground, adding 9% to nearly $18,000.
Toronto also saw green across the screen as the TSX popped 3.37%. Major gainers were Shopify, up 16.47% and Brookfield Asset Management by 8.57%. The street was impressed by the quarterly reports of CAE and big up shares by 18.21% and Chartwell Retirement Residences which advanced 5.69%. WTI crude added half a percent to $86 a barrel.
📦 Amazon.com (AMZN-Q) +11.79%
🚗 Tesla Motors Inc (TSLA-Q) +6.68%
🍎 Apple (AAPL-Q) +7.91%
🕵️♂️ Meta Platforms Inc / Facebook (META-Q) +10.37%
♠ Caesars Entertainment (CZR-Q) +18.9%
🏛 Invesco Ltd. (IVZ-N) +18.29%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +9%
🛍 Shopify Inc. (SHOP-T) +16.47%
🏛 Brookfield Asset Management Inc. (BAM-N) +8.57%
🏛 CAE Inc (CAE-T) +18.21%
🏛 Chartwell Seniors Housing (CSH.UN-T) +5.69%