Wall Street advances, Bay Street pauses
There was less drama in North American markets Wednesday when American stocks advanced modestly, while the TSX retreated by 0.37%. The Dow added only 0.15%, the S&P 0.31% and the Nasdaq 0.64%. This follows two days of strong gains which saw the Nasdaq leap, for example, by 3% in a single session. On the Dow, healthcare and energy enjoyed solid gains, while consumer names were weak and other components were mixed.
Moves were modest, though Apple broke new highs by rallying 2.24%, Booking Holdings advanced 2.77%, and Beyond Meat 4%. Meanwhile, BioNTech gave back 3.55% after recent sharp gains, Costco closed -2.2% and Target -2.45%. Bitcoin made modest gains, hovering around $50,700, while the U.S. 10-year climbed to 1.528%.
Though WTI crude rose 0.7% to $72.50 a barrel and WCS added 1.7% to nearly 56%, the TSX modestly declined due to losses in industrials, telcos and especially tech. Nuvei slid 40% after a damning short-seller’s report, which mirrored another report by the same shorter that hit Lightspeed recently. Elsewhere, Enghouse closed -5.72%, Docebo -3.4% and WSP Global shed 3%. On a more positive note, Vermilion rallied 4.26%, Alimentation Couche-Tard gained 3.77% and Organigram rose 3.54%.
🍎 Apple (AAPL-Q) +2.24%
🧳 Booking Holdings Inc. (BKNG-Q) +2.77%
🥩 Beyond Meat Inc. (BYND-Q) +4%
🧫 BioNTech (BNTX-Q) -3.55%
🛒 Costco Wholesale (COST-Q) -2.2%
🛒 Target Corp (TGT-N) -2.45%
💳 Nuvei Corp (NVEI-T) -40%
💾 Enghouse Systems (ENGH-T) -5.72%
💿 Docebo (DCBO-T) -3.4%
👨💼 WSP Global Inc. (WSP-T) -3%
🛢 Vermilion Energy Inc (VET-T) +4.26%
🛒 Alimentation Couche-Tard (A) (ATD.A-T) +3.77%
🌿 OrganiGram Holdings Inc. (OGI-T) +3.54%