JNJ stumbles while big tech lifts Wall Street
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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%
