The Toronto and New York markets had distinctly different sessions on Wednesday. The Bank of Canada held its key lending rate at 2.75%, as some expected. BoC governor Tiff Macklem projected GDP to be 1.8% in Q1, but much weaker in Q2 due to the ongoing tariff war. Canadian stocks rose by a modest 0.16% as energy and materials led, but industrials lagged. <\/p>\n\n\n\n
Influential names included Cenovus<\/a> up 2.21%, CNQ<\/a> 2.25%, Torex Gold<\/a> 9.86%, Finning International<\/a> -4.32% and Brookfield Business Partners<\/a> -4.14%. WTI crude rose 2.1% to US$62.62 while market uncertainty pushed gold ever higher by US$112 to US$3,343.<\/p>\n\n\n\n In the U.S., Fed chair Jay Powell warned of a “challenging scenario” in cushioning the fall-out from the ongoing tariff war. At the same time, Nvidia announced a quarterly charge imposed by the U.S. government in sending company chips from the U.S. to China. Both headlines slammed Wall Street, leaving the S&P to finish -2.24%, the Nasdaq -3.07% and the Dow -1.73 or -699 points. Nvidia<\/a> shares sank 6.87% while Intel<\/a> slid 3.12%. Other notable names were Tesla<\/a> at -4.94%, Palantir<\/a> -5.78% and JB Hunt Transport<\/a> -7.68%. Though Bitcoin held at US$84,300, the U.S. 10-year yield inched down to 4,281%.<\/p>\n\n\n\n 🛢 Cenovus Energy (CVE-T)<\/a> +2.21%<\/p>\n\n\n\n 🛢 Canadian Natural Rsrcs (CNQ-T)<\/a> +2.25%<\/p>\n\n\n\n 🥇 Torex Gold Resources (TXG-T)<\/a> +9.86%<\/p>\n\n\n\n 🚚 Finning Int (FTT-T)<\/a> -4.32%<\/p>\n\n\n\n 🏛 Brookfield Business Partners LP (BBU.UN-T)<\/a> -4.14%<\/p>\n\n\n\n 💾 NVIDIA Corporation (NVDA-Q)<\/a> -6.87%<\/p>\n\n\n\n 💾 Intel (INTC-Q)<\/a> -3.12%<\/p>\n\n\n\n 🚗 Tesla Inc (TSLA-Q)<\/a> -4.94%<\/p>\n\n\n\n