Gold, silver and S&P shine
As the U.S. dollar continues to slump, investors are driving up the prices of gold and silver to record highs. Gold rallied US$167 to US$5,176 while silver soared over 8% to US$112.20. Meanwhile, the S&P rose 0.41% to close at a record of 6,978, the Nasdaq popped 0.91% and the Dow sank 0.83%. The TSX was flat.
Only three sectors including energy gained on Bay Street while consumer staples, healthcare and real estate were among the laggards. Key names: Whitecap Resources gushed 3.77% as the most active name on the TSX, B2Gold rose 2.59%, Cenovus 1.81%, Cogeco -5.94% and Constellation Software -5.65%. On Wall Street, Corning jumped 15.58%, Sysco 10.96% and GM rallied 8.75%. U.S. health insurers were routed after Trump proposed much-smaller-than expected rate increases in Medicare Advantage rates. Humana cratered by 21.13% and UnitedHealth plunged 19.61%. The U.S. 10-year-yield edged up to 4.239%.
🛢 Whitecap Resources (WCP-T) +3.77%
🥇 B2Gold Corp. (BTO-T) +2.59%
🛢 Cenovus Energy (CVE-T) +1.81%
📡 Cogeco Communications (CCA-T) -5.94%
💾 Constellation Software Inc. (CSU-T) -5.65%
🧬 Corning Inc (GLW-N) +15.58%
🚚 Sysco Corp (SYY-N) +10.96%
🚘 General Motors Corporation (GM-N) +8.75%
👨⚕️ Humana Inc (HUM-N) -21.13%
👨⚕️ UnitedHealth Group Inc (UNH-N) -19.61%
