Forget the shutdown, markets rally
Wall and Bay streets ignored the first U.S. government shutdown in seven years and instead focused on the latest American jobs report. Last month, the private sector unexpectedly lost more jobs than expected, which fueled hopes of more interest rate cuts by the U.S. Fed and in turn energized buyers. The S&P gained 0.34% and the Dow 43 points, both to new record highs. Not to be outdone, the TSX rallied 0.28% to close at a record 30,107. The Nasdaq increased 0.42%.
Major movers in New York included AES jumping 16.79%. Intel 7.12%, Biogen 10.09%, Humana -5.15% and Corteva -9.11%. In Toronto, only three sectors saw mild losses, including energy while telcos, tech, materials and especially health care surged. Hopes of cannabis legalization in the U.S. pushed Curaleaf up again, this time by 7.05%. Elsewhere, Novagold Resource soared 15.04%, Algonquin Power 6.68%, B2gold 1.16% while Cenovus slipped 1.31%. Gold itself edged up by US$3 to US$3,862, Bitcoin jumped 2.4% to US$117,400 while the U.S. 10-year yield inched down to 4.102%
💡 AES (AES-N) +16.79%
💾 Intel (INTC-Q) +7.12%
💊 Biogen IDEC Inc. (BIIB-Q) +10.09%
👨⚕️ Humana Inc (HUM-N) -5.15%
🌿 Corteva Inc. (CTVA-N) -9.11%
🌿 Curaleaf Holdings Inc (CURA-T) +7.05%
🥇 NovaGold Resources Inc (NG-T) +15.04%
💡 Algonquin Power & Utilities Corp (AQN-T) +6.68%
🥇 B2Gold Corp. (BTO-T) +1.16%
🛢 Cenovus Energy (CVE-T) -1.31%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.4%
