Earnings lift stocks to end positive week
More so on Wall Street than Bay, earnings helped lift markets on Friday to end a positive week. The S&P added 0.25% and 2.32% for the week, the Nasdaq 0.95% and 4% to cap four straight week of gains, and the Dow 0.08% and 1.61%.
Tech led the charge with Tesla soaring 11% as the most-traded name. Also, Amazon rallied 3%. However, a poor quarter plunged Intel shares by 6.41% and weak guidance led Hasbro to lose 8.11%. In contrast, a slam-dunk quarter by American Express propelled those shares by 10.54%. The U.S. 10-year yield inched up to 3.515% while Bitcoin climbed 0.6% to $23,000.
The TSX saw more modest gains on Friday and for the week as the Toronto index added 11 points for the session and 0.87% over the week. Sectors were mixed with energy and tech leading and materials and utilities lagging. Lightspeed jumped 6.86%, Canopy rose 5.71% and Meg Energy 5.03%, though Manulife sank 1.47%. Athabasca rallied 6.75% and changed the most hands in Toronto. WTI fell nearly 2% below $80.
🚗 Tesla Motors Inc (TSLA-Q) +11%
📦 Amazon.com (AMZN-Q) +3%
💾 Intel (INTC-Q) -6.41%
🧸 Hasbro Inc (HAS-Q) -8.11%
🏛 American Express (AXP-N) +10.54%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +0.6%
🏛 Lightspeed Commerce Inc (LSPD-T) +6.86%
🌿 Canopy Growth Corp. (WEED-T) +5.71%
🛢 MEG Energy Corp (MEG-T) +5.03%
🏛 Manulife Financial (MFC-T) -1.47%
🛢 Athabasca Oil Sands Corp (ATH-T) +6.75%
