TSX climbs on BoC cut, Wall Street fades

It was a tale of two markets on Wednesday. The Bank of Canada cut the key lending rate by an expected 25 basis points to 3.0%. Though sectors were mixed, the TSX added 40 points or 0.16% as energy and materials led and real estate and healthcare lagged.

Royal Bank was the most influential name, shedding 0.56%, as Celestica popped 6.57%. NexGen Energy 6.71%, though MDA Space closed -9.48% and Innergex Renewables -4.28%. Gold gave back US$8 to US$2,755 while WTI declined over 1% to US$73.

In contrast, the Fed kept American rates at 4.25%-4.5%. The three main indices closed moderately lower, about half a percent, while the Dow fared the best at -0.31%. Bellwether Nvidia slipped 4.1%. Besides, the Fed, earnings dominated the headlines. Starbucks soared 8.14%, Danaher plunged 9.73% and after the bell, Microsoft faded after reporting a beat, but soft Azure growth numbers. MSFT declined 1.09% during the session. Tesla sank 2.26% by the closing bell, but its report after hours saw shares zigazagging up and down. The U.S. 10-year yield edged down to 4.536% while Bitcoin jumped more than US$3,800 to $104,100.

🏛 Royal Bank (RY-T) -0.56%

🧬 Celestica Inc (CLS-T) +6.57%

⛏ NexGen Energy (NXE-T) +6.71%

🧬 MDA Ltd. (MDA-T) -9.48%

♻ Innergex Renewable Energy (INE-T) -4.28%

💾 NVIDIA Corporation (NVDA-Q) -4.1%

☕ Starbucks (SBUX-Q) +8.14%

⚙ Danaher Corp. (DHR-N) -9.73%

Ⓜ Microsoft Corp (MSFT-Q) -1.09%

🚗 Tesla Inc (TSLA-Q) -2.26%