{"id":231434,"date":"2021-06-16T19:21:15","date_gmt":"2021-06-16T23:21:15","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=231434"},"modified":"2021-06-16T19:21:15","modified_gmt":"2021-06-16T23:21:15","slug":"u-s-markets-dip-but-powell-reassures-wall-st","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/u-s-markets-dip-but-powell-reassures-wall-st\/","title":{"rendered":"U.S. markets dip, but Powell reassures Wall St."},"content":{"rendered":"

American markets dipped as the U.S. Fed’s Jerome Powell<\/a> after projecting two interest rate hikes in 2023. “Lift-off is well into the future,” he said, though acknowledged that inflation could wind up “higher and more persistent” than expected. American stocks dipped to session lows during his 2:00 pm remarks, but recovered to finish between Wednesday’s highs and lows. The Dow finished -0.77%, the S&P -0.54% and the Nasdaq -0.37% while the U.S. 10-year yield jumped 5.5% to 1.575%. In contrast, gold slid 1.4% to $1,830 per ounce.<\/p>\n

There was weakness across the board as Walmart<\/a> closed -2.04%, Dow -2.42% and Citigroup<\/a> -3.2%. Energy continued to flex its muscles as Occidental Petroleum<\/a> surged 4.59% and the cruise lines recovered ground as Norwegian<\/a> advanced 2.62%.<\/p>\n

As for Canadian stocks, the TSX closed precisely flat though spent most of the session in the green. Air Transat<\/a> announced its schedule of winter 2021-22 flights and shares soared 12.73%. Mining stocks shone, including Denison mines<\/a> by 5.88%, while Cardinal Energy<\/a> rallied 3.73% and Shopify<\/a> jumped 3.62%. On the flipside, Blackberry<\/a> closed -7.4%, Kinross Gold<\/a> -7.07% and CNQ<\/a> -1.71%. Of the sectors, only financials showed any real strength. BMO<\/a> climbed 1.41%. Elsewhere, green energy play Boralex<\/a> rose 2.62% while timber name, Interfor<\/a>, rallied 2.86%. Though the oil boom continues, both the price of WCS and WTI dipped a third of a percent. Lastly, Bitcoin<\/a> retreated 3.5%.<\/p>\n

🛒 Walmart Inc<\/a> -2.04%
\n🏛 Citigroup Inc.<\/a> -3.2%
\n🛢 Occidental Petroleum Corp<\/a> +4.59%
\n🚢 Norwegian Cruise Line Holdings<\/a> +2.62%
\n🛫 Transat AT Inc.<\/a> +12.73%
\n⛏ Denison Mines Corp<\/a> +5.88%
\n🛢 Cardinal Energy Ltd<\/a> +3.73%
\n🛍 Shopify Inc.<\/a> +3.62%
\n📱 BlackBerry<\/a> -7.4%
\n🥇 Kinross Gold<\/a> -7.07%
\n🛢 Canadian Natural Rsrcs<\/a> -1.71%
\n🏛 Bank of Montreal<\/a> +1.41%
\n♻ Boralex Inc.<\/a> +2.62%
\n🌲 Interfor Corp<\/a> +2.86%
\n🅱 The Bitcoin Fund<\/a> -3.5%<\/p>\n","protected":false},"excerpt":{"rendered":"

American markets dipped as the U.S. Fed’s Jerome Powell after projecting two interest rate hikes in 2023. “Lift-off is well into the future,” he said, though acknowledged that inflation could wind up “higher and more persistent” than expected. American stocks […]<\/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-231434","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\/231434","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=231434"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/231434\/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=231434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=231434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=231434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}