A day after the Liberals unveiled their 2023 budget, the TSX rallied with all but two sectors up. Consumer staples, discretionary and real estate led the charge while materials lagged but only modestly. The TSX added 0.82% to approach 20,000.
Notable movers were Aritzia up 7.35%, Shopify 5.08%, Crescent Point Energy jumping 4% after an acquisition, Precision Drilling 4.98% and Ballard Power jumping 3.84% after the Liberals announced several green energy initiatives.
Wall Street didn’t fare badly on Wednesday, either, with the S&P adding 1.42% to approach 4,000, the Nasdaq 1.79% to almost 12,000, and the Dow up 1% as stocks rallied into the close. Tech led the gainers after Micron announced a positive quarter and surged 7.1%. Intel rose 7.68% and Lam Research 6.2%. Carnival sailed 6.06% higher while Lululemon leap 12.72% on a strong quarter. WTI slipped 0.35% to $73, Bitcoin regained 3.9% to $28,400 and the U.S. 10-year yield hovered around 3.57%.