Tame U.S. inflation data lifts markets again
Tuesday saw the U.S. producers’ inflation numbers lower than expected and lower in recent months, which triggered a wide rally. Though stocks finished off their session highs, the S&P still advanced 0.87%, just shy of 4,000, the Nasdaq 1.45%, and the Dow 0.17%.
Tech enjoyed impressive gains, including AMD up 3.88%, and Alphabet rising 2.86%, Also rallying were Carnival by 5.28% and Walmart which popped 6.54% after strong earnings. Meanwhile, the U.S. 10-year yield edged down to 3.771% while Bitcoin inched up by 1.6% to $16,800.
In Toronto, most sectors were in the green, led by energy and tech while telcos and utilities lagged. The TSX advanced 0.37%, falling just short of a 20,000 close. Major movers were Algonquin Power, shedding another 2.55%, Canopy Growth down 3.87% while Shopify jumped 4.15% and Crescent Point Energy rose 3.35%. WTI crude added 1.3% to $87 a barrel while WCS popped 3% to $58.
💾 Advanced Micro Devices (AMD-Q) +3.88%
🧮 Alphabet Inc. / Google (GOOG-Q) +2.86%
🚢 Carnival Corp. (CCL-N) +5.28%
🛒 Walmart Inc (WMT-N) +6.54%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1.6%
💡 Algonquin Power & Utilities Corp (AQN-T) -2.55%
🌿 Canopy Growth Corp. (WEED-T) -3.87%
🛍 Shopify Inc. (SHOP-T) +4.15%
🛢 Crescent Point Energy Corp (CPG-T) +3.35%
