Stockchase After the Close Tuesday saw more inflation data fan the current stock market rally. Canadian inflation fell to 2.8%, though core inflation including food remains stubbornly high. The TSX gained 0.75% as most sectors rallied, led by materials and financials, the latter enjoying the tailwind stirred by American banks reporting positive quarters in recent days.
On Bay Street, notable movers included CNQ up 2.93%, Endeavour Silver popping nearly 7%, TFI International advancing 5.8% (as transports on both sides of the border extend winning streaks), Precision Drilling rising 5.08%, though Storagevault sank 3.07%. WTI oil gained over 2% to nearly top $76 a barrel.
On Wall Street, financials continue to return in vogue driven by positive earnings. Schwab soared 12.21% and Bank of America rallied 4.39%. Also, tech continued its run with Microsoft hitting new highs with a 4.33% gain and Netflix adding 5.42%. Meanwhile, bellwhether FedEx rose 2.84%. The S&P finished 0.83% higher to close above 4,500, the Nasdaq 0.96%, and the Dow 1.1% to nearly reach 35,000. The U.S. 10-year yield slipped to 3.793% while Bitcoin declined to $29,700.