To no one’s surprise, the Bank of Canada on Wednesday cut the key lending rate by 25 basis points to 2.5% while the U.S. Fed followed suit at 25 points to 4.0-4.25%. Fed Chair, Jerome Powell, also penciled in two more cuts this year based on a weakening jobs market and “elevated” inflation. Market reaction was mixed with the TSX and S&P essentially flat while the Nasdaq shed 0.33% and the Dow gained 0.57%.<\/p>\n
In Toronto, telcos led five sectors moderately higher while tech led the laggards modestly lower. Mining stocks were mixed with Ivanhoe gaining 3.03% and Barrick Gold 2.32%, but First Majestic Silver sinking 3.08%. Goeasy slumped 2.76%, while Energy Fuels rallied 4.82%. In New York, Nvidia slipped 2.62%, Uber skidded 4.99% and Broadcom sank 3.84%, but Workday popped 7.25% and Hologic rallied 7.68%.<\/p>\n
In commodities, gold declined US$31 to US$3,658 while WTI slipped 0.85% to $64. The U.S. 10-year yield edged up 4.078%.<\/p>\n
⛏ Ivanhoe Mines Ltd (IVN-T) +3.03%
\n🥇 Barrick Gold Corp (ABX-N) +2.32%
\n🥈 First Majestic Silver (AG-N) -3.08%
\n🏛 goeasy (GSY-T) -2.76%
\n🛢 Energy Fuels Inc. (EFR-T) +4.82%
\n💾 NVIDIA Corporation (NVDA-Q) -2.62%
\n🚕 Uber (UBER-N) -4.99%
\n🧬 Broadcom (AVGO-Q) -3.84%
\n💾 Workday (WDAY-Q) +7.25%
\n👨⚕️ Hologic (HOLX-Q) +7.68%<\/p>\n","protected":false},"excerpt":{"rendered":"
To no one’s surprise, the Bank of Canada on Wednesday cut the key lending rate by 25 basis points to 2.5% while the U.S. Fed followed suit at 25 points to 4.0-4.25%. Fed Chair, Jerome Powell, also penciled in two […]<\/p>\n","protected":false},"author":12,"featured_media":343920,"comment_status":"closed","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-344061","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\/344061","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=344061"}],"version-history":[{"count":2,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/344061\/revisions"}],"predecessor-version":[{"id":344064,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/344061\/revisions\/344064"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/343920"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=344061"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=344061"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=344061"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}