By Ketki Saxena
Investing.com – The TSX tracked U.S. stocks sharply higher as mega-cap stocks surged ahead following a rise in U.S. jobless claims suggested the Federal Reserve's hawkish monetary policy is slowing the US economy, raising hopes the Fed will tame down its aggressive policy stance in the new year.
Further gains on the commodity heavy Canadian index were capped by a slide in crude prices, as a surge in Covid-19 cases raised worries of demand destruction in the world’s top importer.
The Biggest Stories on Bay Street
Suncor Energy Inc (TSX:SU). has shut down its 98,000-barrel-a-day Commerce City refinery in Colorado after mutliple fires following record-setting weather that led to a shutdown of the refinery on Dec. 24. The refinery is expected to be closed until late March.
Boralex Inc (TSX:BLX). has bought 50% interest in five U.S. wind farms from EDF (EPA:EDF) Renewables, with the sale totalling $339.7 million before closing.The wind farms have a total operating capacity of 894 megawatts of energy, with Boralex’s stake representing 447 megawatts. The new energy assets to contribute approximately $39 million in earnings before interest, taxes, depreciation, and amortization in 2023.
Canadian Stocks Moving Markets Today
Top Gainers:
Top Losers:
- Mag Silver
- Advantage Oil and Gas
- Headwater Exploration
In Canadian Economics
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