TSX edges up, Wall Street fades
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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%