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Stockhouse @ the Bell: TSX Enters Correction Territory

Stockhouse Editorial
0 Comments| May 10, 2022

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After falling 9.45% from March’s record high, Canada’s main stock index entered into correction territory. The TSX fell again on Tuesday, as investor fears concerning the outlook for economic growth and inflation increase. As central bank efforts to contain inflation, Russia’s invasion of Ukraine, and China’s attempt to halt the spread of COVID-19 have impeded the global economy at every turn, it has been a stark reversal for Canadian stocks. Only the mining market moved higher.

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Following the selloff erased $9 trillion from the US equity market this year, some Wall Street stocks bounced back spurring what many traders are calling a short covering rebound from oversold levels. The S&P 500 climbed from a 13-month low, but despite this recovery, the sentiment is still fragile as worries persist over high inflation, tighter monetary policy and an economic slowdown.

Today in the Markets

TSX 19,890.06 -109.63 Click to enlarge
TSXV 711.19 -8.62 Click to enlarge
CSE 325.38 +0.22 Click to enlarge
DJIA 32,160.74 -84.96 Click to enlarge
NASDAQ 11,737.67 +114.42 Click to enlarge
S&P 500 4,001.05 +9.81 Click to enlarge

The Canadian dollar traded for 76.75 cents US compared to 77.29 cents US on Monday.

Crude oil prices were down 3.17 to $99.92.

The price of gold was down 16.10 to $1,838.82.

In world markets, the Nikkei was down 152.24 points to 26,167.10 the Hang Seng was down 368.27 points to 19,633.69, the FTSE was up 26.64 points to 7,243.22, and the DAX was up154.07 points to 13,534.74.


Top 10 Bullboards:

Company Ticker Views
SUNCOR ENERGY INC. T.SU 6513
Bombardier Inc. T.BBD 6271
Baytex Energy Corp T.BTE 5720
Datametrex AI Ltd V.DM 3492
Enbridge Inc T.ENB 3295
HEXO Corp. T.HEXO 2736
Theralase Technologies Inc. V.TLT 2269
CGX Energy Inc V.OYL 2153
New Found Gold V.NFG 1966
Theratechnologies Inc. T.TH 1832


Today in the News:

Eat Well Investment Group Inc | Eat Well Group's Investee Company Amara Organic Foods Named Top 25 Fastest Growing Direct to Consumer Brands
Novo Resources Corp. | High-Grade Gold Mineralized Zone Intersected at Malmsbury Project
Green River Gold Corp. | Green River Gold Corp. Commences 2022 Exploration Drilling Program
Ion Energy | ION Energy: Significant Lithium Brine Discovery at Urgakh Naran Lithium Project
Ucore Rare Metals Inc. | Ucore Mobilizes Geological Crew to Bokan Mountain as Prices for Heavy Rare Earth Oxides Continue to Rise
Nextech AR Solutions Corp | Nextech AR To Voluntarily Delist from the NEO
Fireweed Zinc Ltd. | Fireweed Zinc Acquires the Gayna River Zinc Project by Staking
Blue Sky Uranium Corp. | Blue Sky Uranium Exhibiting at Booth 531, Vancouver Resource Investment Conference, May 17-18, 2022
Puma Exploration Inc. | Puma Exploration to Exhibit at The 2022 Vancouver Investment Conference - Booth 203
Canada Nickel Company Inc | Canada Nickel Announces New Nickel Discovery at Reid with Larger Footprint than Flagship Crawford Property Main Zone; Provides Update on Regional Exploration
Vox Royalty Corp | Vox Provides Development & Exploration Updates
Aton Resources Inc | Aton drills high grade sulphide mineralisation at Rodruin, with 39.4 g/t gold and 261.7 g/t silver over 9.9 metres, within an overall intersection of 88.6 metres grading 5.76 g/t gold, 42.0 g/t silver, 0.31% copper and 2.40% zinc
Gold Bull Resources Corp. | Gold Bull drilling defines eastern extension at North Hill and extends Abel Knoll mineralization outside Mineral Resource Estimate
Else Nutrition Holdings Inc. | Else Nutrition to Report First Quarter 2022 Financial Results on May 16, 2022
Cerrado Gold Corp | Cerrado Gold Commences Drilling at Its Michelle Exploration Target in Argentina
Clean Air Metals Inc | Clean Air Metals Announces the Appointment of Mr. Mike Garbutt, P.Eng. MBA as Chief Operating Officer
ScreenPro Security Inc. | ScreenPro Provides Update on Business Operations
Forbidden Spirits Distilling Corp. | Forbidden Spirits Announces Issuance of Cease Trade Order and Filing of its Annual Audited Financial Statements
Tocvan Ventures Corp. | Tocvan Closes Unit Private Placement
i-80 Gold Corp. | i-80 Gold Reports Q1 2022 Operating Results
Mandalay Resources Corp | Mandalay Resources Provides Target Release Date for First Quarter 2022 Financial Results and Conference Call
Geodrill Ltd. | GEODRILL ANNOUNCES ANNUAL AND SPECIAL MEETING VOTING RESULTS AND EXERCISE OF OPTIONS BY INSIDERS
Cybin Inc. | Cybin and Kernel Announce Results from Kernel Flow® Piloting of Feasibility Study Measuring Ketamine's Effects on the Brain



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