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After a 5-day streak of losses, the TSX Composite Index rebounded Wednesday, December 15, with the technology sector up 1.4 per cent. A 0.9 per cent gain for financials and industrials, each, landed the benchmark index 120.59 points better, 0.58 per cent, to 20,769.16.
Omicron, now thought to be less deadly than the Delta variant, is still evidently considered a threat as the Canadian government urged ceasing travel abroad. The country’s inflation in November was relatively unchanged at 4.7 per cent. That’s eight months now the one to three per cent target range has been overshot.
The energy sector closed in the red. Denison Mines Corp saw an 8.1 per cent gain.
One-year price chart (December 15). Analysis by © 2021 Kalkine Media®
Volume actives
In terms of most active stocks, five of the top six were energy stocks. Enbridge Inc saw 13.88 million shares traded, making it the most active stock. It was followed by Cenovus Energy Inc that saw 12.07 million shares switch hands and Suncor Energy Inc saw 11.34 million shares traded.
Movers and laggards
Wall Street update
As expected, this week’s two-day meeting saw the Fed decide to speed up the tapering of asset purchases. It will now wrap it up by March instead of June, as earlier announced.
On Wall Street, indices were able to mount some gains, now that the uncertainty has been cleared. The main indices spiked around noon to late afternoon, surging till close. The Dow put on 1.08 per cent, 383.25 points, to 35,927.43, while the S&P 500 grew 1.63 per cent, 75.76 points to 4,709.85 points. Nasdaq rocketed 2.15 per cent, 327.94 points, to 15,565.58.
Commodity update
Gold was down 0.44 per cent to US$ 1,764.50. Brent oil gained 0.24 per cent to US$ 73.88/bbl. Crude oil was up 0.2 per cent to US$ 70.87/bbl.
Currency news
The loonie posted a 0.24 per cent gain Wednesday while USD/CAD ended at 1.2830. The US Dollar Index was at 96.51, down 0.06 per cent against the basket of major currencies.
Money market
The US 10-year bond yield gained 1.19 per cent to 1.458 and the Canada 10-year bond yield fell 1.47 per cent to 1.412.
