Stock Exchange: Toronto moved ahead with energy and finance late in the morning

MARKET REVIEW. The Toronto Stock Exchange was up more than 100 points late on Thursday, supported by gains in the energy and financials sectors, while major U.S. indexes traded mixed.

The New York Stock Exchange on Thursday was in line with expectations, already widely appreciated by investors, despite an inflation number that confirmed a slowdown in U.S. prices.

(Re)consulting the market news

Afternoon stock market indices

in Toronto, S&P/TSX It increased by 105.22 points (+0.53%) and amounted to 20,130.27 points.

in New York, S&P500 It increased by 7.18 points (+0.18%) and amounted to 3,976.79 points.

the Nasdaq 19.44 points (+0.18%) scored 10,951.12 points.

the DOW It increased by 166.13 points (+0.49%) and amounted to 34,139.14 points.

the loon It rose $0.0025 (+0.3289%) to $0.7475.

the fat It rose $1.49 (+1.92%) to $78.90.

gold It rose $16.80 (+0.89%) to $1,895.70.

the bitcoin It gained $759.46 (+4.37%) to $18,118.99.

Context

The CPI price index fell by 0.1% on the month in December, as expected. In one year, the rate of inflation decreased to 6.5% compared to 7.1% in the previous month.

Over the year, inflation “remains high, well above the 2% target, but prices are moving in the right direction,” noted Rubeela Farooqi of High Frequency Economics.

For members of the US Central Bank (FED), at the next meeting of the Monetary Policy Committee, “this further slowdown in inflation is a positive development that could encourage a slowdown in interest rate hikes in February,” he added.

But, according to the economist, “central bankers still have work to do to get inflation back on target and should continue to raise rates to a fairly restrictive level,” meaning who is keeping the US economy afloat.

The bond market interpreted the CPI much more optimistically and rates fell significantly. The yield on 10-year government bonds fell to a one-month low of 3.45%, down from 3.53 a day earlier.

As for the stock market, its indexes opened in the green before quickly turning negative.

“The market has been very bullish in recent days,” said Chris Zaccarelli of the Independent Advisor Alliance. “The main thing was already integrated.”

Traders took advantage of some of the hottest stocks of recent days, particularly in the technology sector, particularly Alphabet (-1.46%), the semiconductor maker. Intel (INTC) (-0.65%) or AMD (AMD) (-2.06%) and more exotic values ​​such as a cinema chain AMC (AMC) (-0.91%) and a chain of video game stores GameStop (GME) (-3.15%).

“It will take time for the market to digest this information,” said Gina Bolvin of Bolving Wealth Management. “Right now, he seems a little confused.”

The manager also noted that some brokers who have accepted the positive atmosphere have begun to expect a good surprise from the CPI. “They were disappointed,” he said.

“I think we’re going to have a mixed session today,” Spartan Capital’s Peter Cardillo warned, though “rates and dollar declines add to market sentiment.”

is famous Disney (DIS) sought (+1.35% to $97.63) a day after the board of directors said it opposed the appointment of investor Nelson Peltz as a director. His investment company, Trian Fund Management, recently took a stake and is campaigning for short-term measures, particularly cost-cutting.

Airlines were regaining ground Wednesday, unaffected by a computer glitch that paralyzed air travel in the United States for about an hour and a half. American Airlines (AAL) (+5.15%) and United Airlines (UAL) (+4.36%) was in the front ranks.

Steel manufacturer Cleveland Cliffs (CLF) (+4.52% In several days, according to all commodities, the price of steel exceeded the recent rally.

They were accompanied by oil companies. ExxonMobil (XOM) at the level of (+0.75%). Chevron (CVX) (+0.90%), via Phillips 66 (PSX) (+1.17%).