Bulls finish a choppy week
Markets steadily climbed throughout Friday to finish strong and made up for recent deep selling. Tech led the way, with the Nasdaq rallying 2.26%. Stay-at-home names surged: Peloton flew 10.35%, Zoom Video jumped 6.78% and Nvidia leapt 4.26%. The S&P rose 1.6% and the S&P climbed 1.34% over lingering hopes that Washington will reach another stimulus package that Wall Street has been waiting weeks for to prop up the uncertain American economy.
There was green across the board, even with industrials like Boeing soaring nearly 7%. Given all the choppiness this past week, the Nasdaq rose only around 120 points since last Friday.
Oil was mixed by Friday’s close as the price of WTI slipped 0.5% though WCS inched up 0.2%. Gold declined 0.25%. Nonetheless, the TSX rose 0.93%, shedding 125 points for the week. Tech, real estate and industrials led the gains as energy sagged. Suncor slipped 2.46% in heavy trading and some gold names like Kinross (down 0.59%), gave up some of their recent gains. Cascades soared well over 8% while Lithium Americas skyrocketed 18.65%. Tech giant Shopify regained 6%. Seasonal volatility, coupled with the uncertain U.S. election will likely fuel more volatility next week.
🏋️♂️ Peloton Interactive +10.35%
📹 Zoom Video Communications Inc. +6.78%
💾 Nvidia Corp +4.26%
🛫 Boeing +7%
⚡ Suncor Energy Inc -2.46%
🥇 Kinross Gold -0.59%
📦 Cascades Inc +8%
🌿 Lithium Americas Corp +18.65%
🛍 Shopify Inc. +6%