Earnings lift stocks to new highs
A choppy, but record-breaking weak ended with a rally after strong U.S. earnings raised sentiment on both Wall and Bay streets. The S&P set a new record on Friday, closing up 0.36% to 5,826 while the Nasdaq climbed 0.61% and the Dow advanced 19 points but established a new high at 43,258. The American indices gained 0.8-0.9% for the week.
Netflix beat and shares jumped 11.18%, while Intuitive Surgical also beat and its shares popped 10.17%. Meanwhile, an activist disclosure sent Lamb Weston surging 11.11%, though CVS issued a disappointing report and change of CEO and closed -5.43%. Apple rose 1.24% to an all-time high. The U.S. 10-year yield inched down to 4.075% while Bitcoin jumped nearly 2.5% to US$68,625.
The TSX set yet another record high after it rallied Friday by 0.51% to 24,815. The index gained over 2% for the week. Most sectors rallied, led by a strong performance in materials while energy was among the few laggards. Major movers: Iamgold 16.57%, First Majestic Silver 15.33%, Calibre Mining -3.94%, Pan American Silver 10.53%, and Bombardier -3.86%. Gold climbed US$26 to shatter US$2,700 and settle around US$2,718. Meanwhile, news of the Hamas leader being killed pressured WTI crude by 1.85% down to US$69.35.
📺 Netflix Inc. (NFLX-Q) +11.18%
🧫 Intuitive Surgical Inc. (ISRG-Q) +10.17%
🍭 Lamb Weston (LW-N) +11.11%
👨⚕️ CVS Health Corp (CVS-N) -5.43%
🍎 Apple Inc (AAPL-Q) +1.24%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.5%
🥇 Iamgold Corp (IMG-T) +16.57%
🥈 First Majestic Silver (AG-N) +15.33%
⛏ Calibre Mining Corp. (CXB-X) -3.94%
🥈 Pan American Silver (PAAS-T) +10.53%
🛩 Bombardier Inc (B) (BBD.B-T) -3.86%