On Wednesday, the U.S. Labor Department issued inflation data for April which showed the biggest rise in almost 12 years. This triggered sharp selling across the board with the Nasdaq closing -2.67%, the S&P -2.14%, the Dow -1.99% and the TSX -0.91% which enjoyed some support from rising oil prices.<\/p>\n
Industrials were hard hit, like Boeing<\/a> at -3.54% and Honeywell<\/a> at -3.95%. Even the homebuilding space saw losses as Home Depot<\/a> closed down over 4%. Many FAANG names were down 2-3%, such Microsoft<\/a> at -2.94%. Oil was an oasis with Occidental Petroleum<\/a> rising 2.41%. The price of WTI climbed nearly 1% and the U.S. 10-year inched up to 1.695%. Bitcoin<\/a> slid 4% and gold retreated 1%. Wall Street is openly questioning how long the U.S. Fed can maintain its dovish stance on interest rates, though many see inflation as a transitory phase.<\/p>\n As mentioned, oil cushioned the TSX’s fall as the price of WCS rose nearly 1.5%. Cenovus<\/a> rallied 2.78% and Whitecap Resources<\/a> climbed 3.15%. In contrast, Western Forest Products<\/a> plunged 10.32%. Earnings continued to roll in. Intertape Polymer<\/a> jumped after reporting a strong quarter and Savaria<\/a> leapt 6.81% after beating its own quarter. However, Hudbay Minerals<\/a> plunged 7% after posting a Q1 loss.<\/p>\n 🛫 Boeing<\/a> -3.54% On Wednesday, the U.S. Labor Department issued inflation data for April which showed the biggest rise in almost 12 years. This triggered sharp selling across the board with the Nasdaq closing -2.67%, the S&P -2.14%, the Dow -1.99% and the […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-226195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/226195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=226195"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/226195\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=226195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=226195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=226195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n💾 Honeywell International<\/a> -3.95%
\n🛠 Home Depot<\/a> -4%
\nⓂ Microsoft<\/a> -2.94%
\n🛢 Occidental Petroleum Corp<\/a> +2.41%
\n🅱 The Bitcoin Fund<\/a> -4%
\n🛢 Cenovus Energy<\/a> +2.78%
\n🛢 Whitecap Resources<\/a> +3.15%
\n🌲 Western Forest Products Inc.<\/a> -10.32%
\n📦 Intertape Polymer Group<\/a> +3.58%
\n♿ Savaria Corp<\/a> +6.81%
\n⛏ Hudbay Minerals Inc.<\/a> -7%<\/p>\n","protected":false},"excerpt":{"rendered":"