Stockchase After the Close Markets in Toronto and New York were weak on Wednesday as earnings season kicked off for megatech. Microsoft delivered a convincing beat, so shares jumped 3.07%, but Alphabet‘s quarter was mixed and its shares (class A) sank 9.51%. Meanwhile, Intel closed -5.09%, Caesars Entertainment -7.49% and Waste Management popped 6.1%. The S&P closed -1.43%, the Nasdaq -2.43% to below 13,000, and the Dow -0.31% but stayed above 33,000. The U.S. 10-year yield ticked up to 4.961% while Bitcoin continued to rally, adding 2.65% to nearly top $35,000.
The TSX shed 0.2% to close below 18,900 as the Bank of Canada held its key lending rate. Most sectors were down, particularly real estate and tech, though staples and energy gained.
Major movers were Shopify, tanking nearly 7%, Dye & Durham sliding 11.44%, but TC Energy rose 1.41% and Fairfax Financial advanced 2.59%. WTI crude recovered 1.85% to trade over $85 a barrel.