March 30, 2023

DS Duke

Global Business In World

Equities in Canada’s largest centre maintained their win streak Wednesday, mostly on the backs of resource issues.

The TSX/S&P Composite advanced 58.27 points to end Wednesday at 20,554.01

The Canadian dollar eked higher 0.09 cents to 79.97 cents U.S.

Golds had a banner day, with Centerra Gold ahead 53 cents, or 5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $9.57, while B2Gold climbed 19 cents, or 4.1{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $4.86.

In other resource stocks, Endeavour Silver gathered 35 cents, or 6.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $5.89, while Intertape Polymer hiked $2.81, or 9.7{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $31.68.

In real-estate, CT REIT units were more expensive 41 cents, or 2.4{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $17.42, while Dream Industrial REIT gained 39 cents, or 2.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $16.61.

Health-care stocks paid the price, however, with Cronos Group sliding 41 cents, or 4.5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $8.64, while Aurinia Pharmaceuticals off 61 cents, or 3.5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $16.76.

Techs were roughed up as well, with Absolute Software giving up $3.02, or 17.7{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $14.00, while Sierra Wireless down $1.10, or 4.5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $23.37. In consumer staples, SunOpta shed 84 cents, or 6.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $12.55, while Metro Inc. sank $1.40, or 2.2{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, to $62.89.


The TSX Venture Exchange revived 3.08 points to 924.08.

Seven of the 12 TSX subgroups were higher, led by gold, up 2.5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, materials up 1.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, and real-estate better by 1{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}.

The five laggards were weighed most by health-care, down 2.1{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, information technology, off 0.5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, and consumer staples, down 0.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}.


The Dow Jones Industrial Average and the S&P 500 rose on Wednesday after inflation jumped, but not by quite as much as investors feared when stripping out volatile food and energy prices.

The 30-stock index headed north 220.3 points to finish Wednesday at 35,484.97, to reach a new closing record. The index was lifted by names like Caterpillar and Home Depot.

The S&P 500 added 5.17 points to 4,441.92, also notching an all-time high.

The NASDAQ dropped 53.85 points to 14,734.24.

Through Friday, 87{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} of the S&P 500 companies that reported quarterly results have beat earnings estimates. The same percentage of companies beat revenue estimates during that timeframe.

July’s Consumer Price Index released Wednesday showed prices jumped 5.4{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} since last year, compared to expectations of 5.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}, according to economists surveyed by Dow Jones. The government said CPI increased 0.5{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} in July on month-to-month basis.

But investors were concentrating on the core rate of inflation. CPI, excluding energy and food prices, rose by 0.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} last month, below the 0.4{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} increase expected. Core prices still jumped 4.3{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} on a year-over-year basis.

Prices for 10-Year Treasurys were higher, lowering yields to 1.33{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d} from Tuesday’s 1.35{e5fab30bc1af2ab9862fe5c16f5be581fd243b6ad78468b48e940aadfb2b849d}. Treasury prices and yields move in opposite directions.

Oil prices regained $1.01 to $69.30 U.S. a barrel.

Gold prices gained $22.40 to $1,754.10 U.S. an ounce.

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