Friday rally lifts all boats
Markets ended the short trading week on an optimistic note, shrugging off lingering worries of interest rates hikes and rallied strongly across the board. The S&P rose 1.53% past 4,000, the Nasdaq jumped 2.11% past 12,000, and the Dow added 1.19% beyond 32,000. The TSX rallied nearly 2%, though fell short of returning to 20,000. All the major indices finished the week nearly 2% higher. Meanwhile, the U.S. 10-year held around 3.31% and Bitcoin soared 10% past $21,000.
WTI leapt 3.35% to $86.30 and helped lift the Toronto index. All sectors were in the green, starting with consumer staples and materials.
Big gainers were Bausch Health by 9.71%, New Gold 8.79%, Shopify 8.32%, Lightspeed 7.3% and CNQ 3.33%. Sinking on weak quarterly reports were Corus at -11.73% and Enghouse at -9.95%. In New York, major movers were Dish Network up 8.57%, Kroger 7.09%, Baker Hughes 5.76% and Take-Two Interactive up 5.7%. Megatech rebounded as Meta leapt 4.37% and Adobe 2.91%. Investors will be watching for the latest U.S. inflation number next week.
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +10%
👨⚕️ Bausch Health Companies Inc. (BHC-T) +9.71%
🥇 New Gold Inc. (NGD-T) +8.79%
🛍 Shopify Inc. (SHOP-T) +8.32%
💾 Lightspeed Commerce Inc (LSPD-T) +7.3%
🛢 Canadian Natural Rsrcs (CNQ-T) +3.33%
📺 Corus Entertainment (B) (CJR.B-T) -11.73%
💾 Enghouse Systems (ENGH-T) -9.95%
📺 DISH Network Corporation (DISH-Q) +8.57%
🛒 Kroger Co. (KR-N) +7.09%
🛢 Baker Hughes Co. (BKR-Q) +5.76%
💾 Take-Two Interactive Softwar (TTWO-Q) +5.7%
🕵️♂️ Meta Platforms, Inc. (META-Q) +4.37%
💾 Adobe Systems (ADBE-Q) +2.91%
