Stockchase After the Close Wednesday saw the Bank of Canada raise interest rates by 25 basis points to 5% which was widely expected. Despite that, the TSX rose 1% past 20,000, with almost all sectors rallying led by materials, utilities and real estate as only two sectors lagged, including staples.
Major movers included Laurentian Bank, soaring 26.63% after announcing a strategic review that could lead to a sale. Further, Endeavour Silver jumped 10.39%, Fortuna Silver Mines 10.31%, Nuvei 8.57% though Cenovus declined -1.84%. WTI added another 1.4% to nearly $76 a barrel to extend crude oil’s current rise.
American stocks also rallied as CPI data came in sharply lower. This fueled an across-the-board rally with all three major indices touching 52-week highs during the session. The S&P rose 0.75%, the Nasdaq 1.15% to almost reach 14,000, and the Dow 0.26%. Enjoying strong gains were Domino’s Pizza, popping 10.67%, AMD up 2.88%, Meta and Nvidia each adding 3.5% and Invesco 4.78%. The U.S. 10-year yield retreated to 3.86% though Bitcoin surrendered 1% to around $30,200.