{"id":340444,"date":"2023-12-06T17:04:04","date_gmt":"2023-12-06T22:04:04","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=340444"},"modified":"2023-12-06T17:04:08","modified_gmt":"2023-12-06T22:04:08","slug":"boc-holds-rate-oil-sinks","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/boc-holds-rate-oil-sinks\/","title":{"rendered":"BOC holds rate, oil sinks"},"content":{"rendered":"\n

As expected Wednesday, the Bank of Canada held the key interest rate at 5.0% for the third straight meeting. Beaten-down bond proxies, including real estate stocks and utilities popped, such as Boralex<\/a> by 3.04%, but the TSX itself closed -0.5%. Most sectors rose, but gains led by staples and utilities could not match deep losses in energy. WTI crude sank below $70 to trade around $69.25 after shedding 4.2%. <\/p>\n\n\n\n

The most-traded names were all oil: CNQ<\/a> -5.19%, Suncor<\/a> -5.51% and Baytex<\/a> -7.4%. In contrast, Park Lawn<\/a> jumped 7.53%.<\/p>\n\n\n\n

Wall Street also saw declines, despite the U.S. 10-year yield falling to 4.113% as investors expect the Fed to hold interest rates at its next meeting. The S&P closed -0.39%, the Nasdaq -0.58%, and the Dow -0.19%. Oil stocks also lost ground on this side of the border. Constellation Energy<\/a> closed -4.8% and Halliburton<\/a> -4.05%. Tech continued to give back recent gains with Amazon<\/a> at -1.61% for the day and Intel<\/a> -1.55%. A bright spot was Campbell Soup<\/a> popping 7.11%. Bitcoin<\/a> broke its winning streak by retreating 0.6% to trade around $43,800.<\/p>\n\n\n\n

💡 Boralex Inc.\u00a0(BLX-T)<\/a> +3.04%<\/p>\n\n\n\n

🛢 Canadian Natural Rsrcs\u00a0(CNQ-T)<\/a> -5.19%<\/p>\n\n\n\n

🛢 Suncor Energy Inc\u00a0(SU-T)<\/a> -5.51%<\/p>\n\n\n\n

🛢 Baytex Energy Corp\u00a0(BTE-T)<\/a> -7.4%<\/p>\n\n\n\n

🏛 Park Lawn Corp\u00a0(PLC-T)<\/a> +7.53%<\/p>\n\n\n\n

💡 Constellation Energy\u00a0(CEG-Q)<\/a> -4.8%<\/p>\n\n\n\n

🛢 Halliburton Co\u00a0(HAL-N)<\/a> -4.05%<\/p>\n\n\n\n

📦 Amazon.com, Inc.\u00a0(AMZN-Q)<\/a> -1.61%<\/p>\n\n\n\n

💾 Intel\u00a0(INTC-Q)<\/a> -1.55%<\/p>\n\n\n\n

🥫 Campbell Soup Company\u00a0(CPB-N)<\/a> +7.11%<\/p>\n\n\n\n

🅱 Bitcoin (BTCUSD)\u00a0(CRYPTO:BTC)<\/a> -0.6%<\/p>\n","protected":false},"excerpt":{"rendered":"

As expected Wednesday, the Bank of Canada held the key interest rate at 5.0% for the third straight meeting. Beaten-down bond proxies, including real estate stocks and utilities popped, such as Boralex by 3.04%, but the TSX itself closed -0.5%. […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"closed","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-340444","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\/340444","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=340444"}],"version-history":[{"count":3,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/340444\/revisions"}],"predecessor-version":[{"id":340449,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/340444\/revisions\/340449"}],"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=340444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=340444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=340444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}