Gains in the technology could not keep Canada’s main stock index in positive territory on Thursday. The TSX lost ground as the energy, metals, financial, and health care markets retreated, along with industrials and utilities.
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Markets south of the border saw a split close. A few items from the US Federal Reserve statement, including higher inflation expectations for this year and a possibility of two rate hikes as soon as 2023. Core inflation is now estimated to run at 3% this year versus the previous forecast of 2.2%. Gold saw another significant selloff after Chair Jerome Powell spoke about inflation, the Fed's dot plot, and clarified plans on tapering. In response to the Fed's announcement, gold lost more than $40, reacting to a rise in the US 10-year Treasury yield, which climbed to 1.58%. Copper prices fell to their lowest in two months after the US Federal Reserve brought forward its expectations for raising interest rates, sending the dollar higher and sapping demand for metals. Meanwhile, the number of Americans filing new claims for unemployment benefits increased last week for the first time in 1-1/2 months, but layoffs are easing amid a reopening economy and a shortage of people willing to work.
Today in the Markets
The Canadian dollar traded for 81.26 cents US compared with 82.03 cents US on Wednesday.
Crude oil prices were down $0.98 to $71.17.
The price of gold was down 42.59 to $1,775.80.
In world markets, the Nikkei was down 272.68 points to 29,018.33, the Hang Seng was up 121.75 points to 28,558.59, the FTSE was down 31.52 points to 7,153.43, and the DAX was up 17.10 points to 15,727.67.
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Today in the News:
| Cortus Metals Inc. | Cortus Closes Private Placement and Arranges Debt Settlement in Connection with Nevada Project Acquisitions |
| Puma Exploration Inc | Puma Exploration Discovers More Quartz Veins and Visible Gold at Lynx on the Williams Brook Gold Property in New Brunswick, Canada |
| Red Light Holland Corp. | Next Super Stocks on the Move: AI/ML Innovations (OTC: AIMLF), Red Light Holland (OTC: TRUFF), Victory Square Technologies (OTC: VSQTF), and Reliq Health Tech (OTC: RQHTF) |
| Liquid Avatar Technologies Inc Com | Liquid Avatar Technologies, Inc. Discusses The Growing Digital Identity Space and OTCQB Uplist |
| Lucky Minerals Inc. | Lucky Minerals Extends Wayka Alteration Zone 500 Meters to the South and Samples Up to 4.15 g/t Gold |
| Ridgeline Minerals Corp | Ridgeline Minerals Commences Phase II Drill Program at the Carlin-East Gold Project, Nevada |
| Green Battery Minerals Inc. | Green Battery Applies for Berkwood Graphite Drill Permits |
| Revive Therapeutics Ltd. | Revive Collaborates With University of Health Sciences Antigua To Pioneer Clinical Research of Psychedelics |
| Decibel Cannabis Company Inc. | Decibel Announces Launch of Premium Brand "Pressed by Qwest" and New Flower, Vape, and Concentrate Products |
| Siyata Mobile Inc. | Siyata Mobile Announces Expected Date of Fourth Quarter 2020 and First Quarter 2021 Financial Results and Conference Call |
| Loncor Resources Inc.. | Loncor Announces Award of Adumbi PEA to SENET and Minecon |
| Spot Coffee (Canada) Ltd | SPoT Coffee Announces Shares for Debt Settlement |
| Rockcliff Metals Corp | Rockcliff to Commence Drill Programs at the High Grade TGR Ni-PGE Prospect and the Copperman Deposit |
| Kodiak Copper Corp. | Kodiak Adds Second Drill Rig at MPD Copper-Gold Porphyry Project in Southern British Columbia |
| Big Ridge Gold Corp. | Big Ridge Gold Strengthens Team Ahead of Hope Brook Gold Project Summer Exploration Program |
| Algernon Pharmaceuticals Inc. | Algernon Pharmaceuticals Targets First Human Study of its Psychedelic Drug DMT Stroke Program for Q4, 2021 |
| Rockridge Resources Ltd. | Rockridge Intersects 1.95% Cu, 0.11 g/t Au, 7.41 g/t Ag, 0.53% Zn and 0.02% Co (2.34% CuEq) over 14.02m at Knife Lake Copper Project, Saskatchewan |
| Nubian Resources Ltd | Nubian Shares to Begin Trading on the OTCQB Market |
| Gamesquare Esports Inc. | GCN, a GameSquare Company, Announces New Commercial Partnership with Crossovr Collective and The Drew League |
| Psyched Wellness Ltd. | Ketamine One Highlights Psychedelic Research and Announces New Clinical Trial |
| Desert Mountain Energy Co. | BTV Stock Picks in Avatars, Helium, Gold and Palladium |
| Generation Mining Limited | BTV Stock Picks in Avatars, Helium, Gold and Palladium |
| Minaean SP Construction Corp. | Expression of Interest Requested and Submitted for Construction of Hospital Project in Madagascar |
| Braveheart Resources Inc. | Braveheart Resources Grants Options |
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