{"id":287496,"date":"2022-07-27T18:03:36","date_gmt":"2022-07-27T22:03:36","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=287496"},"modified":"2022-07-27T18:03:36","modified_gmt":"2022-07-27T22:03:36","slug":"fed-hike-earnings-fuel-rally","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/fed-hike-earnings-fuel-rally\/","title":{"rendered":"Fed hike, earnings fuel rally"},"content":{"rendered":"

Wednesday markets soared on the latest announcement by U.S. Fed chair, Jay Powell, and more earnings reports by big tech stocks. As expected, Powell hiked U.S. rates by 75 basis points and unsurprisingly declared that the next hike will be shaped by economic data. Stocks on both sides of the border were already rallying before his mid-afternoon press conference and climbed even more after: the S&P jumped 2.61% (all sectors were up), the Nasdaq 4.06% and the Dow 1.37% past 32,000. Meanwhile the U.S. 10-year yield hovered around 2.79%, though Bitcoin<\/a> leapt 9% to $22,700.<\/p>\n

The biggest gainers were Chipotle<\/a> by 15%, PayPal<\/a> up 12.18%, Alphabet<\/a> (A and C classes) more than 8%, Nvidia<\/a> 7.68% and Caesars<\/a> up nearly 9%. Microsoft<\/a> jumped 6.88% after releasing earnings late Tuesday. Meta<\/a> climbed 6.31%, but slipped after hours Wednesday after issuing its own quarterly report.<\/p>\n

Similarly, the TSX rallied 1.5% for the day, lifted by energy, tech and industrials though staples and real estate were weak. Several names jumped on earnings: Shopify<\/a> up 11%, Canadian National Rail<\/a> by 4.18%, and Cameco<\/a> up 8.05%. Loblaw<\/a> missed revenues and slipped 3.77%, though. Meanwhile, Stelco<\/a> announced a major share buyback and shares soared 10%.<\/p>\n

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> +9%
\n🌶 Chipotle Mexican Grill (CMG-N)<\/a> +15%
\n💳 PayPal Holdings Inc. (PYPL-Q)<\/a> +12.18%
\n🧮 Alphabet Inc. \/ Google (GOOG-Q)<\/a> +8%
\n💾 Nvidia Corp (NVDA-Q)<\/a> +7.68%
\n♠ Caesars Entertainment (CZR-Q)<\/a> +9%
\nⓂ Microsoft (MSFT-Q)<\/a> +6.88%
\n🕵️‍♂️ Meta Platforms Inc \/ Facebook (FB-Q)<\/a> +6.31%
\n🛍 Shopify Inc. (SHOP-T)<\/a> +11%
\n🚂 Canadian National R.R. (CNR-T)<\/a> +4.18%
\n⛏ Cameco Corporation (CCO-T)<\/a> +8.05%
\n🛒 Loblaw Companies Ltd (L-T)<\/a> -3.77%
\n⛏ Stelco Holdings Inc. (STLC-T)<\/a> +10%<\/p>\n","protected":false},"excerpt":{"rendered":"

Wednesday markets soared on the latest announcement by U.S. Fed chair, Jay Powell, and more earnings reports by big tech stocks. As expected, Powell hiked U.S. rates by 75 basis points and unsurprisingly declared that the next hike will be […]<\/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-287496","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\/287496","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=287496"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/287496\/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=287496"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=287496"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=287496"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}