On Thursday morning, U.S. CPI data came in slightly lighter than expected, but triggered a sharp rebound in stocks across the board. Volumes were higher than usual and the session closed on strength. The S&P vaulted 5.53% to nearly 4,000, the Nasdaq jumped 7.35% beyond 11,000, and the Dow added 3.69%. All sectors were positive and the Nasdaq enjoyed its best day in two years. Megacap tech, which has beaten down lately, led gains.
Amazon jumped 11.79%, Tesla 6.68%, Apple 7.91 and Meta 10.37% as the most-traded stocks on Wall Street. Elsewhere, Caesars Entertainment soared 18.9% and Invesco 18.29%. Meanwhile, the U.S. 10-year sank to 3.827% though Bitcoinrecovered some ground, adding 9% to nearly $18,000.
Toronto also saw green across the screen as the TSX popped 3.37%. Major gainers were Shopify, up 16.47% and Brookfield Asset Management by 8.57%. The street was impressed by the quarterly reports of CAE and bid up shares by 18.21% and Chartwell Retirement Residences which advanced 5.69%. WTI crude added half a percent to $86 a barrel.