TSX ends lower after Shopify (SHOP) sinks 17%, loonie gains

2 min read | February 16, 2022 01:30 AM EST | By Sundeep Radesh

TSX ends lower after Shopify (SHOP) sinks 17%, loonie gains — Image source: Copyright © 2022 Kalkine Media®

Movers and laggards

Wall Street update

Wall Street saw a marginally better day with the minutes of the Fed’s meeting hinting that interest rate hikes will likely be drawn out and gradual rather than sudden.

The Dow sank 54.57 points, 0.16 per cent, to 34,934.27 points, while the S&P 500 rose 3.94 points, 0.09 per cent, to 4,475.01 points. Nasdaq’s benchmark edged lower by 15.66 points, 0.11 per cent, to 14,124.10.

Commodities update

Gold gained 0.82 per cent to US$ 1,871.50. Brent oil gained 1.67 per cent to US$ 94.81/bbl and crude oil was up 1.73 per cent to US$ 93.66/bbl.

Currency news

The loonie posted a 0.27 per cent gain Wednesday while USD/CAD ended at 1.2681. The US Dollar Index was at 95.70 against the basket of major currencies, down 0.3 per cent.

Money market

The US 10-year bond yield down 0.17 per cent to 2.040 and the Canada 10-year bond yield was down 0.71 per cent to 1.959.

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