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Stockhouse @ the Bell: Inflation Highest in 30 Years, Interest Rate Holds Firm

Stockhouse Editorial
1 Comment| January 26, 2022

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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

TSX 20,595.89 +4.91 Click to enlarge
TSXV 846.29 -0.92 Click to enlarge
CSE 457.80 +0.54 Click to enlarge
DJIA 34,168.09 -129.64 Click to enlarge
NASDAQ 13,542.12 +2.82 Click to enlarge
S&P 500 4,349.93 -6.52 Click to enlarge

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:

Company Ticker Views
Datametrex AI Ltd V.DM 2653
CGX Energy Inc V.OYL 1699
Theralase Technologies Inc. V.TLT 1671
New Found Gold V.NFG 1518
PyroGenesis Canada Inc. T.PYR 1469
Quarterhill Inc T.QTRH 1395
Baytex Energy Corp T.BTE 1205
Bombardier Inc. T.BBD.A 940
Aleafia Health Inc. T.AH 906
EV Battery Tech Corp. C.ACDC 905

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
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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