TSX edges up, Wall Street fades
The TSX advanced 13 points on Wednesday in mixed trading. Staples and materials led while industrials and real estate lagged.
Key movers were Goeasy rallying 6.27%, Air Canada 6.27%, Birchcliffe Energy 4.51% while Baytex Energy finished -1.39% and TFI International -7.03%. Gold retreated slightly to US$2,370, but remained near historic highs, while WTI crude slid $2.50 to $82.85.
The words of U.S. Fed chief, Jay Powell, echoed from late Tuesday on Wall Street and resulted in mild losses Wednesday: the S&P -0.58%, the Nasdaq -1.15% and the Dow -0.12%. Powell said that it would probably take “longer than expected” to reach the Fed’s 2% inflation goal. Major movers of the day included airlines after United reported a beat and soared 17.45%. American Airlines rose 6.6%. Meanwhile, Bank of America rose 1.59% as bank earnings continued, though AMD closed -5.78% and Prologis -7.19%. Bitcoin sank 3.8% to trade around $61,350.
🏛 goeasy (GSY-T) +6.27%
🛫 Air Canada (AC-T) +6.27%
🛢 Birchcliff Energy Ltd. (BIR-T) +4.51%
🛢 Baytex Energy Corp (BTE-T) -1.39%
🚚 TFI International Inc (TFII-T) -7.03%
🛫 United Airlines Holdings (UAL-Q) +17.45%
🛫 American Airlines Group (AAL-Q) +6.6%
🏛 Bank of America (BAC-N) +1.59%
💾 Advanced Micro Devices (AMD-Q) -5.78%
🏛 Prologis (PLD-N) -7.19%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -3.8%