Canada’s main stock index climbed higher on Wednesday, thanks to a morning rally led by the tech sector. Losses crept up and dragged many markets lower by close.The central bank announced the trendsetting rate will remain at 0.25%. Statistics Canada said the annual pace of inflation climbed in December 2021 to its highest rate since 1991, up 4.8% compared with a year earlier. Unfavourable weather and supply chain issues added to pressure on prices across Canada. You only need but look at the alternating colours in the market performance chart below to see how volatile a day it was.
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The season of turbulent trading on Wall Street continued for a third day. US markets moved higher earlier in the day following solid numbers from the tech space. Most numbers closed in the red after news was released on the Federal Reserve policy meeting raising its target rate. The rate-sensitive tech and growth stocks have been stifled by fears of aggressive Fed action to combat inflation. Rising geopolitical tensions around Russia and Ukraine also weigh on the market.
Today in the Markets
The Canadian dollar traded for 79.55 cents US compared with 79.10 cents US on Tuesday.
Crude oil prices were up 0.93 to $86.53.
The price of gold was down 33.05 to $1,816.41.
In world markets, the Nikkei was down 120.01 points to 27,011.33, the Hang Seng was up 46.29 points to 24,289.90, the FTSE was up 98.32 points to 7,469.78, and the DAX was up 335.52 points to 15,459.39.
Top 10 Bullboards:
Today in the News:
| Gratomic Inc | Gratomic Announces Update on Capim Grosso Graphite Project Drilling Program in Brazil |
| Psyched Wellness Corp. | Psyched Wellness Provides Update on Anti-Inflammatory Study with the National Research Council of Canada |
| First Helium | First Helium Licenses Second Exploration Well at Worsley |
| Vejii Holdings | Vejii Provides Corporate Update and 2022 Guidance |
| Mission Ready Solutions Inc | Mission Ready Solutions to present at OTC Markets Small Cap Growth Virtual Investor Conference |
| NEO Battery Materials Ltd | NEO Battery Materials Receives Final Site Approval for Land Use of 106,700 Square Feet for NBMSiDE Commercial Plant Facility by Gyeonggi-do, the Largest Economic Province in South Korea |
| Predictmedix Inc | Predictmedix To Launch Infectious Diseases Clinical Trial in North American Hospital for FDA Medical Device Classification of Safe Entry Stations |
| Yorkton Equity Group Inc. | Yorkton Equity Group Inc. Announces Final Closing of Convertible Debenture Private Placement |
| New Age Metals Inc. | New Age Metals Signs Memorandum of Understanding with Nipissing First Nation at the River Valley Palladium Project near Sudbury, Ontario |
| St. James Gold Corp A | ST. JAMES GOLD CORP. (TSX-V: LORD) ADDS SENIOR MINING EXECUTIVE TERENCE F. COUGHLAN, P.GEO, TO ITS BOARD OF ADVISORS |
| O2Gold Inc. | Drilling in Aurora Yields an Average Grade of 7.44 g/t Au and Ground Geophysics Identifies New Veins and Increases Projected Vein Extensions by More Than 3,000 Meters |
| Questex Gold & Copper Ltd. | QuestEx Gold & Copper Expands Footprint of Inel Gold Mineralization |
| Fabled Copper | Fabled Copper Continues to Sample High Grade Copper Including 25.60% Cu at the 8A Occurrence |
| Mindset Pharma Inc. | Emerging Markets Report: A Meeting of the Minds |
| CoinSmart Financial Inc. | Canadian Hockey League and CoinSmart Announce Multi-Year Partnership Agreement |
| Filament Health | Filament Health Subsidiary Psilo Scientific Announces Inclusion in Health Canada List of Licensed Psilocybin Producers |
| Mednow Inc. | Mednow Awarded 2022 Best Workplace(TM) - Start-ups |
| Torq Resources Inc. | Torq Provides Update on Santa Cecilia Gold-Copper Project |
| i-80 Gold Corp. | i-80 Gold Intersects High-Grade Gold in Underground Drilling at Granite Creek |
| Falcon Gold Corp | Falcon Welcomes Media And Publishing Veteran - Michelle Suzuki To Its Board Of Directors |
| Just Kitchen Hldgs | JustKitchen Reports Annual 2021 Financial Results |
| Eastern Platinum Ltd | Eastern Platinum Limited Announces Termination of the Project Framework Agreement with Advanced Beneficiation Technologies Limited for the Recovery of PGMs |
| Sprout AI | Sprout AI Inc. Announces the Resignation of Its CFO and Appointment of Their Interim CFO |
| Brascan Gold | Brascan Announces Listing on Frankfurt Exchange |
| EarthRenew Inc | EarthRenew Announces 2021 Revenue |
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