TSX flat, oil down, Wall Street up
Wednesday started with better-than-expected U.S. retail numbers, reflecting a resilient American consumer, but hinting at more interest rate hikes. Markets hovered around the flatline for most of the session, and the TSX closed only 0.08% higher. Most Canadian sectors were higher, led by consumer staples and tech, but materials and energy lagged.
Shopify jumped 6.91% ahead of its latest earnings report while Lightspeed and Nuvei both popped about 6%. Elsewhere, Bausch Health soared nearly 20% while Kinross Gold sank over 5%. WTI oil declined 0.59% to around $78.60 a barrel.
American markets were headed to a flat close until a rally in the final minutes. The S&P closed 0.28%, the Nasdaq 0.92% to return above 12,000, and the Dow 0.11%. Energy was among the big losers with Devon sliding 10.57% and Occidental Petroleum shedding 5.13%. However, Etsy leapt 6.4% while Cisco added 1.57%, but 8% after hours and Roku soared 12.09% during the day and that much after the bell, both stocks triggered by positive quarterly reports. The U.S. 10-year yield climbed to 3.8% as Bitcoin popped 8.5% past $24,000.
🛍 Shopify Inc. (SHOP-T) +6.91%
💾 Lightspeed Commerce Inc (LSPD-T) +6%
💾 Nuvei Corp (NVEI-T) +6%
👨⚕️ Bausch Health Companies Inc. (BHC-T) +20%
🥇 Kinross Gold (K-T) -5%
🛢 Devon Energy Corp (DVN-N) -10.57%
🛢 Occidental Petroleum Corp (OXY-N) -5.13%
🛍 Etsy Inc. (ETSY-Q) +6.4%
💾 Cisco (CSCO-Q) +1.57%
📺 Roku Inc (ROKU-Q) +12.09%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +8.5%