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Market review. The New York Stock Exchange ended slightly on Thursday after two losses accustomed to the Central Bank (FRB) program and decided to tighten monetary policy by raising interest rates and offloading assets.
The Toronto Stock Exchange on Thursday reversed the losses posted at the beginning of the session to strengthen the materials and energy sector the afternoon before the federal budget was announced and eventually close the deal at a high price. ..
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Stock index at closing price
In Toronto S & P / TSX It increased by 46.29 points (+ 0.21%) to 21,834.89 points.
In New York S & P500 It increased by 19.06 points (+ 0.43%) to 4,500.21 points.
the Nasdaq In the end, it was 8.48 points (+ 0.06%) to 13,897.30 points.
the Dow It increased by 87.06 points (+ 0.25%) to 34,583.57 points.
the Red-throated loon It fell from $ 0.0031 (-0.3861%) to $ 0.7944.
the oil It changed from US $ 0.79 (+ 0.82%) to US $ 97.02.
gold It went from US $ 10.50 (+ 0.55%) to US $ 1,933.60.
the Bitcoin It decreased by US $ 370.17 (-0.84%) to US $ 43,579.55.
“The market has recovered steadily from the morning losses. Spartan Capital’s Peter Cardillo believes he has given a very clear idea of how the Fed will act on this year’s rate hikes and balance sheet cuts. Investors seem to be happy now. “
In the minutes of the last meeting released Wednesday, members of the Fed’s Financial Commission (FOMC) could justify one or more rate hikes of 0.5 percent points to combat rising inflation. Showed that there is.
They will also begin shrinking their FRB balance sheets as early as May, reaching US $ 95 billion per month within three months. This includes $ 60 billion in Treasury securities and $ 35 billion in collateral.
Bond yields continue to grow, with 10-year Treasury yields rising to 2.64%, the highest in about three years.
Good macroeconomic news supported the index later in the session. Meanwhile, weekly unemployment allowance applications fell to the lowest level since 1968, with 166,000 applications last week. This is the second lowest level since the history of these statistics.
Meanwhile, consumer credit surged in February (+ 11.3% year-on-year), “indicating that consumers are rushing to lend before the money is too high,” Peter Cardillo suggested.
“There has been some relief from the Fed-led decline, and investors will begin to look at the quarterly closing season starting next week at banks,” analysts said. Spartan Capital.
Popular, HP (HPE) After the announcement of Berkshire Hathaway shares, it rose 14.78% to US $ 40.07. Warren Buffett’s holding company has acquired 11.4% of the capital of computer and printer manufacturers.
A billionaire investment fund has invested $ 4.2 billion worth of shares in HP in several transactions this week, according to a document filed with the US financial market regulator SEC.
Tesla (TSLA) It was launched on Thursday night with a big fanfare at Mega Factory, the group’s fifth mega party in Austin, Texas. Stock prices rose 1.10% to $ 1,057.26 after falling more than 4% the day before against the backdrop of a tech plunge.
Twitter (TWTR)Tesla boss Elon Musk surprisingly acquired more than 9% stake, down 5.38% to $ 48.04 after a sharp rise the day before.
Pharmacy and drugstore chain Rite Aid (RAD) Following negative advice from Deutsche Bank, it fell 17.18% to $ 6.99.
CDK Global (CDK)Is a company that provides technology services and software to car dealerships, and Brookfield Business Partners has agreed to acquire it in a transaction worth US $ 8.3 billion.
Title CDK US $ 54.50, up 11.25%.
Levi Strauss (LEVI) Despite reporting better results than expected, it fell 0.72% to 19.27%, but was overshadowed by the outlook for ongoing problems in the supply chain.