U.S. inflation data dampens markets
The latest CPI data landed on Wall Street Thursday. Indices in New York actually rose in the early going, but fell in the end, while the TSX was in the red for the entire session. Consumer inflation numbers came in slightly higher than expected, but were enough to trigger investor jitters of the Fed raising rates next month. The S&P closed -0.62%, the Nasdaq -0.63%, and the Dow -0.51%.
Notable names included Adobe adding 1.77%, Walgreens spiking over 7%, but Hormel Foods finished -9.83%, Ford -2.04% and American Airlines -3.37%. The U.S. 10-year yield ticked up to 4.699% while Bitcoin sank 0.55% to $26,700.
Energy was a rare bright spot on Bay Street as nearly all sectors declined on the TSX, down 0.83% to 19,500. Utilities, materials and discretionary sold off hard. Major movers included Spin Master up 4.06%, Lundin Mining at -3.59%, Capstone Copper -6.04%, Algonquin Power -2.59% and Curaleaf jumping 3.92%. WTI oil was flat at $83.50
💾 Adobe Systems (ADBE-Q) +1.77%
🍵 Hormel Foods Corp (HRL-N) -9.83%
🚘 Ford Motor (F-N) -2.04%
🛫 American Airlines Group (AAL-Q) -3.37%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.55%
🧸 Spin Master Corp (TOY-T) +4.06%
⛏ Lundin Mining Corp. (LUN-T) -3.59%
⛏ Capstone Copper Corp (CS-T) -6.04%
🌿 Curaleaf Holdings Inc (CURA-CSE) +3.92%