JNJ stumbles while big tech lifts Wall Street
The TSX was flat Tuesday, despite climbing oil prices which in turn were fueled by strong China imports data. Meanwhile, big tech stocks rallied to lift the Nasdaq by 1% and the S&P 0.33% to another record close, though the Dow finished -0.2%.
Apple surged 2.43%, Tesla roared 8.6% and Nvdia leapt 3.09%. Triggering this tech rally was headline news from Johnson & Johnson which immediately paused the use of their Covid vaccine across America and Europe. The company cited rare cases of blood clotting in the States. Stay-at-home names flourished in the session: Zoom Video rallied 6.61% and Peloton jumped 2.85%. JNJ itself slid 1.34% and dragged down the Dow, while competitors Moderna and BioNTech soared 7.4% and 6.68% respectively. The U.S. 10-year slipped 2.86% to 1.618%.
Back in Toronto, materials and real estate led while energy and industrials lagged. Notable gainers included Aphria which bounced 6.28% and several gold names including Alamos, up 5.04%. On the flipside, Cineplex at -4.53%, Maple Leaf Foods -3.16% and Linamar -3.46%, lost ground. Though oil stocks sank Tuesday, the price of WTI and WCS both climbed above 1%. Bitcoin made new record highs after soaring nearly 5% past US$63,000.
🍎 Apple +2.43%
🚗 Tesla Motors Inc +8.6%
💾 Nvidia Corp +3.09%
📹 Zoom Video Communications Inc. +6.61%
🚲 Peloton Interactive +2.85%
💉 Johnson & Johnson -1.34%
💉 Moderna +7.4%
💉 BioNTech +6.68%
🌿 Aphria Inc +6.28%
🥇 Alamos Gold Inc +5.04%
🎞 Cineplex Inc -4.53%
🍁 Maple Leaf Foods -3.16%
🚗 Linamar Corp -3.46%
🅱 The Bitcoin Fund +5%