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Stockhouse @ the Bell: Inflation & Ukraine war continue to rattle markets

Stockhouse Editorial
4 Comments| April 7, 2022

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It was a choppy trading day on Thursday, but Canada’s main stock index rose out of the waters on a midday comeback, fending off uncertainty around the Russia-Ukraine peace talks. The Liberals presented their 2022 budget and find themselves under pressure to pull back from new spending for fear of further boosting runaway inflation, which is already at a 30-year high. The energy, mining, and telecom sectors moved higher.

US markets also broke their downward spiral as growth stocks overcame pressure following a sharp selloff was sparked on concerns around a more hawkish Federal Reserve and a setback to the Ukraine peace talks. Over the past two sessions, the tech-heavy NASDAQ had shed nearly 4.5% following comments from central bank policymakers and minutes from the Fed’s March meeting, which suggest a rapid removal of stimulus measures put in place during the pandemic. Officials will cut up to $95 billion a month from the central bank’s asset holdings even as the war in Ukraine tempered the first interest rate increase since 2018.

Today in the Markets

TSX 21,834.89 +46.29 Click to enlarge
TSXV 886.33 +5.45 Click to enlarge
CSE 428.84 +4.91 Click to enlarge
DJIA 34,583.57 +87.06 Click to enlarge
NASDAQ 13,897.30 +8.48 Click to enlarge
S&P 500 4,500.21 +19.06 Click to enlarge

The Canadian dollar traded for 79.68 cents US compared to 80.09 cents US on Wednesday.

Crude oil prices were up 0.82 to $97.05.

The price of gold was up 7.14 to $1,931.17.

In world markets, the Nikkei was down 461.73 points to at 26,888.57, the Hang Seng was down 271.54 points to 21,808.98, the FTSE was down 37.81 points to 7,549.89, and the DAX was down 43.56 points to 14,108.13.

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Marvel Discovery Corp | Marvel Acquires Victoria Southwest - Contiguous to Falcon Gold, Buchans-Benton JV
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