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with Alan Tong

After the close

With Allan Tong

16/08/2022 at 08:56pm

Retail lifts stocks, but oil falls

Earnings by American retailers helped lift American stocks, while the TSX managed to gain despite the ongoing decline in crude oil prices. In New York, The S&P added 0.19% and the Dow 0.71% while the Nasdaq closed -0.19%.

Noteable gainers were Walmart, jumping 5.11%, Best Buy up 4.45% and Bath & Body Works at 4.07%. Also up were Take-Two Interactive by 7.22% and Carnival at 4.48%. However, Moderna shed 5%. The U.S. 10-year yield inched up to 2.813% while Bitcoin slipped 0.5% to hover right below $24,000.

Oil continued to struggle as WTI fell 3.33% to around $86.50 as WCS fell slightly more to $67 a barrel. That didn’t stop the TSX from rising 0.45% to 20,269. Consumer staples and tech were particularly strong. Moving up were AutoCanada, racing ahead by 7.41%, First Quantum Minerals which surged 3.72% and Canadian Tire which added 3.47%. As earnings approach, the banks rallied. TD climbed 1.54% and BMO 1.26%. Unsurprisingly, oil stocks lagged. Baytex closed -4.48%, Athabasca Oil -3.85% and Tamarack Valley Energy -3.92%.

🛒 Walmart Inc (WMT-N) +5.11%
🛍 Best Buy Company Inc (BBY-N) +4.45%
🛍 Bath & Body Works (BBWI-N) +4.07%
💾 Take-Two Interactive Softwar (TTWO-Q) +7.22%
🚢 Carnival Corp. (CCL-N) +4.48%
💉 Moderna (MRNA-Q) -5%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.5%
🛍 AutoCanada Inc. (ACQ-T) +7.41%
⛏ First Quantum Minerals (FM-T) +3.72%
🛒 Canadian Tire Corporation Ltd. (A) (CTC.A-T) +3.47%
🏛 Toronto Dominion (TD-T) +1.54%
🏛 Bank of Montreal (BMO-T) +1.26%
🛢 Baytex Energy Corp (BTE-T) -4.48%
🛢 Athabasca Oil Sands Corp (ATH-T) -3.85%
🛢 Tamarack Valley Energy (TVE-T) -3.92%

Trending Today
Stockchase Discover
Stockchase Discover on Stockchase 16/08/2022 at 05:27pm

NORTH AMERICAN

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Allan Tong’s Discover Picks Lately, the street has changed its tune on FedEx and has pushed shares up more than 15% over the past month vs. 8.7% for UPS. This isn't a knock against UPS. Rather, it's a sign that FedEx is snapping out of its slump and finally has momentum on its side. FedEx trades at 16.2x earnings, in-line with the industry, while it's dividend is 1.97% backed by a safe 20.76% payout ratio. There are 16 buys and five holds with a price target of $292.05, or 26.6% upside. Read 3 Options to Profit from Falling Crude Oil for our full analysis.
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3 Options to Profit from Falling Crude Oil
16/08/2022 at 05:25pm

3 Options to Profit from Falling Crude Oil

Data reflecting China’s weakening economy on Monday this week added to the woes of crude oil. China’s numbers were surprising, but the recent performance of crude oil is not. Commodities are notorious for price fluctuations, and as the law of… read more

Gordon Reid
Gordon Reid on Market Call (BNN TV) 16/08/2022 at 05:16pm

US EQUITIES

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Inflation is starting to peak. Gas prices are declining and commodities stocks are falling as well. The market outlook was dire and poor in June, and exuberant now. This will likely cool off. Home Depot's latest numbers signal that the consumer is "okay."
Top Picks and Opinions
Jim Cramer - Mad Money
Jim Cramer - Mad Money on Mad Money on CNBC 16/08/2022 at 01:39am

US EQUITIES

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Two months ago, experts were warning of plunging stocks and oil. This morning's weak opening on falling oil prices makes no sense. Lower oil means lower inflation. Why the sell-off? Because the bears just won't quit.... Wednesday's Fed minutes will be huge. Also watch for housing starts numbers on Tuesday. Housing prices are sky-high after a two-year boom. Will there be an effect on prices? Wednesday also sees retail sales data.
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Mike Philbrick
Mike Philbrick on Market Call (BNN TV) 15/08/2022 at 10:23pm

ETF's

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Question was on the potential for an energy crisis in Europe in the fall and winter. Europe has foregone energy security for a decade, so it has difficult choices. Russian oil is hitting the market and going to places like India and Asia with profits paying for the invasion of The Ukraine. Russian natural gas does not provide the same profits so prices will be more volatile.
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Stockchase Insights
Stockchase Insights on 5i Research 15/08/2022 at 10:18pm

CANADIAN & ETF's

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Trevor Rose’s Insights - Trevor’s most-liked answers from 5i Research. The Producer Price Index (PPI) measures changes in prices of goods and services at the producer/manufacturer level, rather than the consumer level. The PPI is traditionally known to be a leading indicator for future inflation, as a softer increase in the PPI puts less pressure on producers to increase their prices to consumers. When producers face input cost inflation, they in turn raise the prices of their goods and services to keep pace with inflation, resulting in higher inflation. The US PPI month-over-month change for July came in below analyst expectations at (0.5%) vs 0.2%, and this represents the first monthly decline since April 2020. This decline in PPI is encouraging to investors in that it signals that the headwinds for higher inflation are easing.
Top Picks and Opinions
with Alan Tong

After the close

With Allan Tong

15/08/2022 at 10:11pm

Oil slides, but stocks hold on China’s weakness

The week began with surprisingly weak economic data from China and an announcement to raise their interest rates which took many by surprise. Crude oil prices immediately sank with WTI falling 3.35% below $89 and WCS sliding 4% below $70. North American stocks tumbled at first, but gradually recovered throughout the session. By the closing bell, the TSX was flat at 20,180, while the S&P closed 0.4%, the Nasdaq 0.62%, and the Dow 0.45%. Naturally, energy was weak in Toronto and New York, but materials also lagged. However, consumer staples and industrials rallied.

In Toronto, cannabis names saw big gains again as Canopy leapt 17.18% and Aurora nearly 9%. Also rallying were Home Capital Group by 9.87% and Nuvei at 6.41%.

In contrast, Cenovus closed -2.27%, Meg Energy -4.02% and Turquoise Hill Resources -10.41%. In New York, gainers included Nvidia up 2.13%, Tesla 3.08%, Ulta Beauty 2.6% and Gilead by 5.16%. Falling were Schlumberger at -3.72%, Diamondback Energy -3.94%, Freeport-McMoRan -3.43% and Warner Bros. Discovery -4.46%. The U.S. 10-year yield was 2.79% while Bitcoin slipped 1.25% to $24,000.

🌿 Canopy Growth Corp. (WEED-T) +17.18%
🌿 Aurora Cannabis (ACB-T) +9%
🏛 Home Capital Group (HCG-T) +9.87%
💾 Nuvei Corp (NVEI-T) +6.41%
🛢 Cenovus Energy (CVE-T) -2.27%
🛢 MEG Energy Corp (MEG-T) -4.02%
⛏ Turquoise Hill Resources (TRQ-T) -10.41%
💾 Nvidia Corp (NVDA-Q) +2.13%
🚗 Tesla Motors Inc (TSLA-Q) +3.08%
💄 Ulta Salon Cosmetics and Fragrance Inc. (ULTA-Q) +2.6%
🧫 Gilead Sciences Inc. (GILD-Q) +5.16%
🛢 Schlumberger Ltd. (SLB-N) -3.72%
🛢 Diamondback Energy (FANG-Q) -3.94%
⛏ Freeport McMoran Copper & Gold (FCX-N) -3.43%
📺 Warner Bros. Discovery (WBD-Q) -4.46%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.25%

Trending Today
Larry Berman CFA, CMT, CTA
Larry Berman CFA, CMT, CTA on Berman's Call 15/08/2022 at 10:07pm

ETF's & LARGE CAP

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August 15, 2022 - Show unavailable due to BNN technical malfunction
PyroGenesis Canada Inc, Keg Royalties Income Fund and More Earnings Reports this Week (Aug 15-19)
15/08/2022 at 10:00am

PyroGenesis Canada Inc, Keg Royalties Income Fund and More Earnings Reports this Week (Aug 15-19)

Better than expected inflation numbers had investors showing optimism. Markets on both side of the border rallied, with consumer discretionary and tech led gains. This week PyroGenesis Canada Inc (PYR-T), Enthusiast Gaming Holdings Inc. (EGLX-T) and Keg Royalties Income Fund… read more

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