Uranium fuels TSX higher

Allan Tong Posted On October 16, 2024

Recent deals by megatech companies to secure nuclear energy propelled the TSX on Wednesday to new highs. The Canadian index climbed 0.5% to 24,561 as uranium names soared: Cameco by 7.55%, Energy Fuels 14.87% and Denison Mines 11.57%. Meanwhile, Air Canada rallied 4.35%, but Celestica ended the day -4.68%. WTI remained at US$70.50 a barrel while gold added US$11 to US$2,673.

On Wall Street, the Dow advanced 0.79% to its own high of 43,077 while the S&P rose 0.47% and the Nasdaq 0.28%. Earnings were the key driver as United Airlines took off by 12.44%, Delta 6.79% and Morgan Stanley 6.5%. Nvidia rallied 3.13% as the most-active name while Walgreens gained another 6.24%. The U.S. 10-year yield held around 4.016% while Bitcoin increased 2% to US$67,860.

⛏ Cameco Corporation (CCO-T) +7.55%

⛏ Energy Fuels Inc. (EFR-T) +14.87%

⛏ Denison Mines Corp (DML-T) +11.57%

🛫 Air Canada (AC-T) +4.35%

🧬 Celestica Inc (CLS-T) -4.68%

🛫 United Airlines Holdings (UAL-Q) +12.44%

🛫 Delta Air Lines Inc (DAL-N) +6.79%

🏛 Morgan Stanley (MS-N) +6.5%

💾 NVIDIA Corporation (NVDA-Q) +3.13%

💊 Walgreen Boots Alliance (WBA-Q) +6.24%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2%