TSX fades, but Wall Street recovers
Tuesday saw general, though undramatic selling for most of the session on both sides of the border until the major indices closed on strength. All the U.S. indices finished positive, though the S&P was essentially flat, the Nasdaq added 0.17% and the Dow 0.36%. The U.S. 10-year-yield continued to slip and hovered around 4.334% by the close.
Amid mixed trading, the cruise lines emerged on top as Carnival rallied 5.81% and Norwegian 3.96%. However, AMD closed -2.18%, Stanley Black & Decker -4.56% and Bath & Body Works -12.82% after reporting disappointing results. In contrast, Bitcoin jumped 2% to return above US$70,000.
Despite rallying late in the day, the TSX still lost ground to the tune of -0.63% to close below 22,000. Sectors were mixed as staples and industrials soared, but materials and energy tanked. Enghouse rallied 5.35% as did GFL Environmental by 6.9%. WTI slipped 1.15% to US$73.35 and the most active stocks were energy: Suncor -1.8% and CNQ -1.84%. Park Lawn announced it was privatizing, and its shares soared 58.59%. Gold edged down to US$2,326. Bay Street will be watching the Bank of Canada’s interest rate announcement on Wednesday.
🚢 Carnival Corp. (CCL-N) +5.81%
🚢 Norwegian Cruise Line Holdings (NCLH-N) +3.96%
💾 Advanced Micro Devices (AMD-Q) -2.18%
🔌 Stanley Black and Decker (SWK-N) -4.56%
🧼 Bath & Body Works (BBWI-N) -12.82%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2%
💾 Enghouse Systems (ENGH-T) +5.35%
♻ GFL Environmental Inc. (GFL-T) +6.9%
🛢 Suncor Energy Inc (SU-T) -1.8%
🛢 Canadian Natural Rsrcs (CNQ-T) -1.84%
🏛 Park Lawn Corp (PLC-T) +58.59%