NATIONAL BANK OF CANADA Market Review
January 9, 2023
EQUITY INDICES | LAST | CHANGE | %CHG | 52 WK-HIGH | 52 WK-LOW | YTD |
DOW JONES INDUSTRIAL AVERAGE | 33,517.65 | -112.96 | -0.34% | 36513.88 | 28660.94 | 1.12% |
S&P 500 | 3,892.09 | -2.99 | -0.08% | 4748.83 | 3491.58 | 1.37% |
NASDAQ COMPOSITE | 10,635.65 | 66.36 | 0.63% | 15319.03 | 10088.83 | 1.62% |
S&P/TSX COMPOSITE | 19,857.07 | 42.56 | 0.21% | 22213.07 | 17873.18 | 2.44% |
STOXX EUROPE 50 | 3,842.54 | 25.35 | 0.66% | 3849.34 | 3279.47 | 5.22% |
FTSE 100 | 7,724.94 | 25.45 | 0.33% | 7725.74 | 6707.62 | 3.67% |
DAX PERFORMANCE-INDEX TR | 14,792.83 | 182.81 | 1.25% | 16090.29 | 11862.84 | 6.24% |
CAC40 | 6,907.36 | 46.41 | 0.68% | 7250.24 | 5628.42 | 6.70% |
Nikkei 225 Index | 25,973.85 | Closed | Closed | 29222.77 | 24681.74 | -0.46% |
HANG SENG INDEX | 21,388.34 | 396.70 | 1.89% | 25050.59 | 14597.31 | 8.12% |
Shanghai SE Composite Index | 3,176.08 | 18.45 | 0.58% | 3602.15 | 2863.65 | 2.81% |
Market Review
Growth stocks led gains as interest rate worries ease
Big tech and growth stocks spearheaded gains in equity market today as recent signs of a cooling labor market supported bets of a slower pace of interest rate hikes by the Federal Reserve and buoyed hopes of a soft landing for the U.S. economy. Money market bets now show 79% odds of a 25-basis point hike in the Fed's February policy meeting, with the terminal rate expected at 4.92% by June. The upbeat market sentiment was also helped today by China reopening its borders on Sunday which bolstered the outlook for the global economy and stoked hopes of a demand recovery for crude oil and other resources. On the corporate side, Apple Inc, Alphabet Inc and Microsoft Corp gained over 2% each as U.S. Treasury yields declined. Amazon.com Inc rose more than 3% after comments mentioning that cost pressures are easing for the e-commerce giant in the second half of the year. Tesla Inc climbed as much as 7% intraday after the electric-vehicle maker indicated longer waiting times for some versions of the Model Y in China, signaling the recent price cuts could be stoking demand. U.S.- listed shares of Alibaba Group Holding Ltd rose almost 4% on news that Ant Group's founder Jack Ma will give up control of the Chinese fintech giant in an overhaul. In Canada, the main stock index also gained today, tracking the upbeat sentiment in global markets. Economic data showed, the value of Canadian building permits rose by a 14.1% in November from October. The residential sector saw higher intentions for both the single-family and multi- family components, while both the industrial and institutional components were up in the non-residential sector. The value of building permits was up in seven provinces, with Ontario recording the largest increase. Among stock news, financial services firm Canaccord Genuity Group Inc soared more than 28% after a group led by the company's management said it would launch a takeover bid at nearly C$1.13 billion. Nuvei Corp has agreed to buy Paya Holdings Inc in a deal valuing its smaller peer at $1.3 billion and would boost the Canadian payments firm's operations in the United States.
S&P/TSX: LEADERS | LAST | CHANGE | %CHG |
Ballard Power Systems Inc | $7.39 | $0.50 | 7.26% |
Converge Technology Solutions Corp | $4.80 | $0.26 | 5.73% |
Denison Mines Corp | $1.72 | $0.09 | 5.52% |
Capstone Copper Corp | $5.79 | $0.30 | 5.46% |
SNC-Lavalin Group Inc | $27.27 | $1.25 | 4.80% |
S&P/TSX: LAGGARDS | LAST | CHANGE | %CHG |
Tilray Brands Inc | $3.64 | -$0.32 | -8.08% |
BELLUS Health Inc | $10.11 | -$0.78 | -7.16% |
K92 Mining Inc | $8.11 | -$0.45 | -5.26% |
OceanaGold Corp | $2.79 | -$0.14 | -4.78% |
Osisko Mining Inc | $3.68 | -$0.17 | -4.42% |
S&P/TSX INDUSTRY | LAST | CHANGE | %CHG | YTD |
ENERGY | 234.27 | 1.49 | 0.64% | -3.59% |
MATERIALS | 346.98 | -1.92 | -0.55% | 5.89% |
UTILITIES | 303.51 | 1.22 | 0.40% | 2.83% |
FINANCIALS | 360.03 | 0.78 | 0.22% | 2.28% |
INDUSTRIALS | 391.54 | 0.69 | 0.18% | 2.65% |
HEALTH CARE | 20.25 | -0.48 | -2.32% | 4.27% |
CONS. DISCRETION. | 261.72 | -1.73 | -0.66% | 3.84% |
CONS. STAPLES | 842.47 | 2.32 | 0.28% | 2.36% |
INFO TECH. | 140.85 | 1.34 | 0.96% | 3.26% |
COMMUNICATION SVS | 189.43 | -0.33 | -0.17% | 1.82% |
REAL ESTATE | 309.93 | 2.21 | 0.72% | 3.01% |
GOVERNMENT BONDS | 2YR | 5YR | 10YR | 30YR |
CANADA (YLD%) | 3.93% | 3.23% | 3.09% | 3.10% |
U.S. (YLD%) | 4.21% | 3.67% | 3.54% | 3.66% |
COMMODITIES/ FX | LAST | CHANGE | %CHG | YTD |
CRUDE OIL WTI | $74.81 | $1.04 | 1.41% | -6.79% |
NATURAL GAS | $3.91 | $0.20 | 5.34% | -12.77% |
GOLD | $1,875.80 | $11.60 | 0.62% | 3.08% |
COPPER | $4.02 | $0.11 | 2.93% | 5.59% |
CAD / USD | $0.7467 | $0.0030 | 0.40% | 1.21% |
CAD / EUR | €0.6957 | -€0.0028 | -0.40% | 0.94% |
USD / EUR | €0.9317 | -€0.0075 | -0.80% | -0.26% |
USD / JPY | ¥131.86 | -¥0.21 | -0.16% | 0.57% |
Source: Refinitiv
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- National Bank of Canada is a public company listed on Canadian stock exchanges.
- National Bank Financial may act as financial advisor, fiscal agent or underwriter for certain companies mentioned herein and may receive remuneration for its services.
- National Bank Financial and/or its officers, directors, representatives or associates may have a position in the securities mentioned herein and may make purchases and/or sales of these securities from time to time in the open market or otherwise.
- The information contained herein was obtained from sources which we believe to be reliable, however we cannot represent that it is accurate or complete.
- This is not a recommendation for any security or investment sector as it may not be suitable for all types of investors. Please contact your investment advisor before purchase to discuss your investor profile and to further discuss these risk factors.
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National Bank of Canada published this content on 09 January 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 January 2023 21:54:18 UTC.
