Friday rally offsets the week’s losses
Markets in Toronto and New York rebounded convincingly Friday to lessen the week’s losses. Led by financials and healthcare, Wall Street saw the S&P close 1.91% (as all 11 sectors rallied), the Nasdaq 1.7% (down 0.63% for the week) and the Dow 2.14%.
Big gainers were Netflix up 8.2%, Illumina 6.76%, Meta 4.11% and the banks which continued to report: JPMorgan 4.58%, Bank of America 6.89% and Citigroup soaring 13.21%. The U.S. 10-year yield hovered around 2.93% while Bitcoin rose nearly 2% above $21,000. Drivers were good retail numbers and consumer confidence up slightly.
Both WTI and WCS rose 1.7% above $97 and $76. The TSX closed 0.36% higher Friday, but slipped nearly 3% for the week as oil and other commodities slid in price. Industrials, financials and energy led. Major movers were High Liner Foods up 6.78%, Vermilion Energy 5.14%, Boyd Group Services 5.17% and Kelt Exploration at 5.53%. Losers included cannabis which gave up some of yesterday’s strong gains: Tilray -11.57%, Canopy -9.06%, Aurora -8.25%. New Gold finished -7.14% and Cogeco Communications -4.25%.
📺 Netflix Inc. (NFLX-Q) +8.2%
🧫 Illumina Inc. (ILMN-Q) +6.76%
🕵️♂️ Meta Platforms Inc / Facebook (FB-Q) +4.11%
🏛 JP Morgan Chase & Co (JPM-N) +4.58%
🏛 Bank of America (BAC-N) +6.89%
🏛 Citigroup Inc. (C-N) +13.21%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2%
🍤 High Liner Foods (HLF-T) +6.78%
🛢 Vermilion Energy Inc (VET-T) +5.14%
⛽ Boyd Group Services Inc. (BYD-T) +5.17%
🛢 Kelt Exploration (KEL-T) +5.53%
🌿 Tilray Inc. (TLRY-Q) -11.57%
🌿 Canopy Growth Corp. (WEED-T) -9.06%
🌿 Aurora Cannabis (ACB-T) -8.25%
🥇 New Gold Inc. (NGD-T) -7.14%
📡 Cogeco Communications (CCA-T) -4.25%