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Disney pushes U.S. stocks to highs

Allan Tong Posted On August 13, 2021
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Disney delivered strong Q3 growth driven by a sharp rise in Disney+ subscriptions. Shares in the House of the Mouse rose nearly 1% Friday and helped nudge the S&P and Dow up a few points to new record highs of 4,468 and 35,515 respectively. The Nasdaq gained only six points but continues to hover right below its own record high. Financials, energy and especially industrials lagged on the Dow with Boeing closing -1.56%, Ford -2.23% and American Express -1.45% as investors continued to watch the progress of the Delta variant.

In contrast, eBay delivered a 7.45% gain, AMD jumped 3.8% in heavy trading and Pfizer rallied 2.62%. The price of WTI crude fell 1.6% to $68 per barrel while WCS retreated by 0.7%. As a result Occidental Petroleum slid 4% in the U.S. and Cenovus Energy tumbled 2.46% in Canada.

The TSX nearly closed in the green, but faded into the close to finish -0.05% for the day, but it made record highs earlier this week. Gains in materials help offset energy’s losses. Big gainers included AutoCanada which soared 10.7%, Organigram which jumped 7.44% and a rash of gold names such as Yamana which popped 4.38%. Losing ground were Chorus Aviation which closed at -4.72%, Chemtrade Logistics at -2.79% and Blackberry at -2.83%. The Canadian dollar was essentially flat, right below 80 cents against the USD, while gold climbed $35 per ounce and was essentially flat. All in all, it was a record-breaking week for the major indices.

👸 Walt Disney Co. +1%
🛫 Boeing -1.56%
🚘 Ford Motor -2.23%
💳 American Express -1.45%
🛍 eBay Inc +7.45%
💾 Advanced Micro Devices +3.8%
💉 Pfizer Inc +2.62%
🛢 Occidental Petroleum Corp -4%
🛢 Cenovus Energy -2.46%
🚗 AutoCanada Inc. +10.7%
🌿 OrganiGram Holdings Inc. +7.44%
🥇 Yamana Gold Inc. +4.38%
🛫 Chorus Aviation Inc -4.72%
🏛 Chemtrade Logisitics Inc. -2.79%
📱 BlackBerry -2.83%

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