All eyes Wednesday were on the U.S. Fed. Markets were trending modestly higher until Fed chair Jerome Powell announced a 0.25% interest rate (surprising no one), but made comments that the market interpreted as higher-for-longer. Then again, others discerned hints of pausing hikes down the road. Nevertheless, all S&P sectors closed in the red as the S&P finished the session -0.7%, the Nasdaq -0.46%, and the Dow -0.8%. Earnings and guidance continued to roll in.<\/p>\n
AMD<\/a> slumped 8.75%, Estee Lauder<\/a> plunged 17.33% and Starbucks<\/a> fell by 9.2%. Adobe<\/a> declined 6.34% after U.K. regulators announced they would scrutinize a proposed merger while Marathon Petroleum<\/a> 5.9% sank on weak oil prices. The U.S. 10-year yield clocked in at 3.364% while Bitcoin<\/a> slipped 1.3% to $28,400.<\/p>\n Canadian stocks saw less weakness as the TSX closed -0.18%. Sectors were mixed, though more weak than strong, led by utilities but dragged down by staples, discretionary and energy. Oil names led losses: Suncor<\/a> -2.01%, Cenovus<\/a> -2.04% and Crescent Point Energy<\/a> -2.46%. However, Equinox Gold<\/a> soared 9.91% and Tilray<\/a> rallied 4.81%.<\/p>\n 💾 Advanced Micro Devices (AMD-Q)<\/a> -8.75% All eyes Wednesday were on the U.S. Fed. Markets were trending modestly higher until Fed chair Jerome Powell announced a 0.25% interest rate (surprising no one), but made comments that the market interpreted as higher-for-longer. Then again, others discerned hints […]<\/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-323155","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\/323155","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=323155"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/323155\/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=323155"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=323155"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=323155"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n💄 Estee Lauder (EL-N)<\/a> -17.33%
\n☕ Starbucks (SBUX-Q)<\/a> -9.2%
\n💾 Adobe Systems (ADBE-Q)<\/a> -6.34%
\n🛢 Marathon Petroleum (MPC-N)<\/a> -5.9%
\n🅱 Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> -1.3%
\n🛢 Suncor Energy Inc (SU-T)<\/a> -2.01%
\n🛢 Cenovus Energy (CVE-T)<\/a> -2.04%
\n🛢 Crescent Point Energy Corp (CPG-T)<\/a> -2.46%
\n🥇 Equinox Gold (EQX-T)<\/a> +9.91%
\n🌿 Tilray Inc. (TLRY-Q)<\/a> +4.81%<\/p>\n","protected":false},"excerpt":{"rendered":"