On Tuesday disappointing quarters reported by Alphabet and Microsoft weighed on American markets while the Bank of Canada announced a lower-than-expected interest rate hike. As a result, American indices sank while the TSX gained over 1%. The BOC increased rates by 50 basis points–instead of the expected 75–to 3.75%. <\/p>\n
The Canadian 10-year yield dipped below 5%. The central bank also forecast weaker growth ahead, but sees inflation falling below 3% by the end of next year. South of the border, Alphabet missed its top and bottom lines while Microsoft indicated slower-than-expected growth. Both the megatechs and BOC cited the strong U.S. dollar as headwinds.<\/p>\n
As a result, the TSX shot up immediately after that rate decision and all sectors rallied, led by consumer staples. Enbridge<\/a> rose over 1% in heavy trading, Canopy<\/a> popped 8.33% and Crescent Point Energy<\/a> surged 1.72% after announcing a special dividend. However, Shaw<\/a> soared 7.22% on signals from Ottawa that its merger with Rogers could happen after all. It didn’t hurt the TSX that WTI jumped over 3% to $88 a barrel. In contrast, big tech sank the Nasdaq by 2% while the S&P retreated by 0.74% though the Dow was flat. Microsoft<\/a> sank 7.44% and Alphabet<\/a> plunged 8.89%. However, AT&T<\/a> rallied 2.54% and Visa<\/a> jumped 4.6% on an earnings beat. The U.S. 10-year yield actually slipped to 4.017% as Bitcoin<\/a> jumped 2.4% to around $20,750.<\/p>\n 🛢 Enbridge (ENB-T)<\/a> +1% On Tuesday disappointing quarters reported by Alphabet and Microsoft weighed on American markets while the Bank of Canada announced a lower-than-expected interest rate hike. As a result, American indices sank while the TSX gained over 1%. The BOC increased rates […]<\/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-298968","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\/298968","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=298968"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/298968\/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=298968"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=298968"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=298968"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n🌿 Canopy Growth Corp. (WEED-T)<\/a> +8.33%
\n🛢 Crescent Point Energy Corp (CPG-T)<\/a> +1.72%
\n📡 Shaw Communication (B) (SJR.B-T)<\/a> +7.22%
\nⓂ Microsoft (MSFT-Q)<\/a> -7.44%
\n🧮 Alphabet Inc. \/ Google (GOOG-Q)<\/a> -8.89%
\n📱 AT&T (T-N)<\/a> +2.54%
\n💳 Visa Inc. (V-N)<\/a> +4.6%
\n🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> +2.4%<\/p>\n","protected":false},"excerpt":{"rendered":"