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At Close: Today's TSX Market Movers, Thursday May 19

Stock Markets May 19, 2022 16:27
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By Ketki Saxena -- At the close in Toronto, the S&P/TSX Composite Index was at 20,181.92 points, up +0.40% in the day’s trading, as the Canadian benchmark’s commodities tilt helped lift the index relative to U.S. counterparts. 

The energy sector was supported by the price of crude (1.91%) rebounded as China, the world’s largest importer of crude, plans to ease Covid restrictions in Shanghai. Crude was also supported by bullish U.S. consumption and inventory data released yesterday, however, further gains were capped by reports that president Joe Biden may meet Saudi Arabia’s crown prince, in an effort to reiterate the U.S. requests for more OPEC supply. 

The materials subindex also continued to be supported by the China reopening and an expected rebound in industrial metals. Materials was also supported by the price of gold, up 1.34% at time of writing, as bond yields retreated and the U.S. dollar weakened, boosting demand for bullion as a safe haven. 

Barrick Gold (NYSE:GOLD) (+4.33%), Enbridge (TSX:ENB) (-0.14%), and Manulife (TSX:MFC) (-0.44%) were amongst the most traded stocks on the TSX today. 

ATS Automation (+11.94%) and Lightspeed Commerce (TSX:LSPD) (+10.11%) were the most traded stocks following earnings calls earlier today, as well as Fortuna Silver (TSX:FVI) (+9.85%). The biggest losers on the TSX today included BRP Inc (TSX:DOO) (-5.52%), Cascades (TSX:CAS) Inc (-4.32%), Celestica Inc (-4.14%), Primo Water (TSX:PRMW) (-3.68%), and Brookfield Business (TSX:BBUC) (-2.93%).

In New York, the S&P 500 was down 0.56%, the Dow Jones was 0.75% lower, and the Nasdaq was 0.28% lower at the close. 

The VIX - the Wall Street Fear Guage - was down 4.69% at 29.52 points. 

In Bond and Currencies: Yields retreated today, with the Canadian 5 year bond at 2.790%, and yields on the 10 year at 2.902%. Yields on the U.S. 10 years were lower at 2.852%. 

The USD/CAD pair was -0.95% at C$1.2813 to a greenback, as the USD retreated following substantial gains in the previous session, and as the loonie was supported by crude. With the USD Index at $102.82, the dollar still remains strong against a basket of currencies with risk sentiment keeping the safe haven in demand. 


At Close: Today's TSX Market Movers, Thursday May 19

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