Markets climb to new highs in record week
Again, materials led and energy lagged on the TSX. In fact, natural resources and commodities had a good Friday. Among the big gainers were GoEasy up 8.8%, Canfor 7.13%, Cascades 5.14% and Western Forest Products 4.83%. Losing ground were Hudbay Minerals at -6.26%, Lightspeed -5.88% and Vermilion Energy -4.05%. Both the price of WTI and WCS slipped more than 0.5% by the close to limit the TSX’s’s overall gains. Investors shrugged off gloomy news about the Covid situation in Canada, in particular Ontario.
In contrast, America continues to vaccinate and reopen. On Wall Street, the Dow sector showed gains, apart from energy and a flat performance in tech. In the home-building sector, DR Horton rose 3.57% and Sherwin Williams gained 3.8%. Bank earnings continued to hit home runs, but after Morgan Stanley reported record Q1 results in earnings and revenues, the stock sold off during the session to close -2.76%. The U.S. 10-yield inched up to 1.585%, though Bitcoin slipped 2.34%.
🏛 goeasy +8.8%
🌲 Canfor Corp +7.13%
📦 Cascades Inc +5.14%
🌲 Western Forest Products Inc. +4.83%
⛏ Hudbay Minerals Inc. -6.26%
💾 Lightspeed POS -5.88%
🛢 Vermilion Energy Inc -4.05%
🏘 D R Horton Inc. +3.57%
👨🎨 Sherwin-Williams Co. +3.8%
🏛 Morgan Stanley -2.76%
🅱 The Bitcoin Fund -2.34%
UnlockRatingThey have a cool freelance model. He really likes it, but the stock is very expensive. That said, it keeps getting it right.
UnlockRatingBilly Kawasaki’s Insights - Billy’s most-liked answers from 5i Research. Value stocks and financials are seeing strong performance. Certain sectors are seeing a steep correction. Growth fundamentals remain pretty good. Selling can cause more selling for growth stocks especially. Unlock Premium - Try 5i Free
UnlockRatingRecovery. Economic recovery is going well. Data is showing positive moves, savings rates are super good and interest rates are retracing. The crisis has led to lots of innovation and productivity gains. 2023 estimates before the crisis were actually worse than 2023 estimates following the crisis due to productivity gains and lower interest rates.
Stride, Inc., Chubb Limited and 20 Stock and 1 ETF Top Picks (Apr 09-15)
This week were 20 Stock and 1 ETF Top Picks in a wide range of industries: Consumer, Basic Materials, Financials, Healthcare, Industrials, Technology and ETF. Here are this week’s Top Picks as selected by: Christine Poole, David Fingold, Gordon Reid,… read more
Markets soar on strong earnings, optimism
There was green across screens Thursday as American bank earnings continued to impress as the U.S. continues to reopen. Both cyclical and growth names surged in Toronto and New York. The Dow climbed 0.9% to break 34,000 while the S&P rose 1.11% to a new closing high. Similarly, the TSX advanced 0.78% to make a new high. However, tech led the rally as the Nasdaq jumped 1.31% and traded consistently high all day.
Again, the semis enjoyed a bonanza as Nvidia soared 5.63% and AMD 5.68%, while Adobe gained 2.47% and Alphabet 1.93%. Beyond tech, UnitedHealth popped 3.83%, BioNTech 6.12% and Molson Coors 3.5% to show that the buying was broad-based. Citigroup and Bank of America both beat earnings, but sold off after the initial euphiora to finish -0.51% and -2.86%.
Gold climbed 1.6% which helped lift the TSX. By far, minerals were the strongest sector as Copper Mountain Mining soared 7.74%, Capstone Mining 7.59% and Hudbay Minerals 6.68%. Beyond rocks, Shopify rallied 2.42% and Cargojet 2.38%. Energy was the only sector down as WTI added 0.3% but the price of WCS was flat. Northland Power slid 6% after buying Spanish windfarms and solar parks. Meanwhile, Tilray slipped 2.64% after Aphria shareholders overwhelmingly approved the takeover. Aphria finished -4.5%. Bitcoin continued its spectacular run, popping 2.7% by the close while the U.S. 10-year tumbled to 1.558%.
💾 Nvidia Corp +5.63%
💾 Advanced Micro Devices +5.68%
💿 Adobe Systems +2.47%
🧮 Alphabet Inc. / Google +1.93%
👨⚕️ UnitedHealth Group Inc +3.83%
💉 BioNTech +6.12%
🍺 Molson Coors Brewing Company +3.5%
🏛 Citigroup Inc. -0-51%
🏛 Bank of America -2.86%
⛰ Copper Mountain Mining +7.74%
⛏ Capstone Mining Corp. +7.59%
⛏ Hudbay Minerals Inc. +6.68%
🛍 Shopify Inc. +2.42%
🛫 Cargojet Inc +2.38%
💡 Northland Power Inc -6%
🌿 Tilray Inc. -2.64%
🌿 Aphria Inc -4.5%
🅱 The Bitcoin Fund -2.7%
UnlockRatingGold. Stock price moves as the underlying commodity moves. Gold has pulled back, and the USD should start strengthening, which also works against gold prices. She has no money in the sector right now. She prefers producers with very little political risk.
UnlockRating(A Top Pick Nov 10/20, Up 57.7%)Stockchase Research Editor: Michael O'Reilly We are recommending trailing up the stop to $31.50. This would all but guarantee a minimum investment return of 35%, including the previous recommendation to cover 50%.
