Net worth tracking
Login Sign Up
Become a Premium Member
  • All Opinions
  • Top Picks
  • Experts
  • Companies
  • Discover
Watch List
Home » Daily

Growth and value rally as inflation fears settle

Allan Tong Posted On March 11, 2021
0
0
Shares
  • Share On Facebook
  • Tweet It

One year after the World Health Organization declared Covid-19 a pandemic, North American stocks rallied across the board. On Thursday, the S&P and Dow both made all-time highs, up 1.04% and 0.58% respectively, but the tech-heavy Nasdaq opened strong and stayed high to the close (unlike Wednesday), topping 2.52%. It was a rare session where growth as well as value names shone. Drivers were President Biden signing his US$1.9 trillion stimulus bill, the encouraging vaccination drive, and the European Central Bank pledging to buy more bonds.

Also, U.S. weekly unemployment claims came in lower than expected in a four-month low as the ongoing reopening added more jobs. The sum result was the U.S. 10-year rising 0.46% to 1.527%, which didn’t rattle investors.  These were the ingredients for the optimism which allowed megacap tech stocks to roar back: Alphabet 3.16%, Tesla 4.72%, Nvidia 4.21% and Facebook 3.39%. Outside tech, FedEx added 3.1% and Nike 2.62%.

In Canada, the TSX rode the wave by climbing another 0.83% to make an all-time high, just 156 points shy of 19,000. Tech, materials and energy led the charge, though cannabis stocks soared. OrganiGram rocketed 40% after British American Tobacco bought a 19.9% stake. Aphria and Hexo nearly popped 11%. Other gainers: Linamar 10.8%, Hudbay Minerals 9.82% and tech newcomer Nuvei leaping 11.21%. Gold was flat, but Bitcoin inched up another 2.3% to make yet another new high above $57,000. Lastly, the price of WCS and WTI both gushed 2.4% to cap a banner day.

🧮 Alphabet Inc. / Google +3.16%
🚗 Tesla Motors Inc +4.72%
💻 Nvidia Corp +4.21%
🕵️‍♂️ Facebook +3.39%
📦 FedEx +3.1%
👟 Nike Inc +2.62%
🌿 OrganiGram Holdings Inc. +40%
🚬 British American Tobacco +19.9%
🌿 Aphria Inc +11%
🌿 Hexo Corp +11%
🚘 Linamar Corp +10.8%
⛏ Hudbay Minerals Inc. +9.82%
💳 Nuvei Corp +11.21%
🅱 The Bitcoin Fund +2.3%

0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Air Canada, Shell plc and 19 Stock and 1 ETF Top Picks (Jun 17-23)
Melisa R. H. June 24, 2022
Spectral Med Inc and More at 52-week Highs & Lows (Jun 15-21)
Melisa R. H. June 22, 2022
Markets mixed though rates climb
Read Next

Markets mixed though rates climb

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Top Reviews

    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
    • The Ugly Truth About Identity Theft – Free Credit Report
      7
  • Popular Posts

    • Air Canada, Shell plc and 19 Stock and 1 ETF Top Picks (Jun 17-23)
    • Spectral Med Inc and More at 52-week Highs & Lows (Jun 15-21)
    • 3 defensive stocks to find stability with your money
    • Markets slide on recession fears
    • 3 rock stars of the mineral stocks
  • Stock Lists

    • 3 defensive stocks to find stability with your money
      June 21, 2022
    • 3 rock stars of the mineral stocks
      June 15, 2022
    • 3 stocks to profit from revenge travel
      June 7, 2022
    • Are tech stocks alive?
      May 31, 2022
    • 3 dividend stocks to fight inflation
      May 24, 2022


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search