Markets and Trump recover
Reports that Trump was improving faster than expected and would be discharged from hospital ahead of time and ongoing hopes for a new stimulus package from Washington propelled Monday markets. The S&P rallied 1.8%, the Dow 1.68% and the Nasdaq 2.32% as tech roared back.
Apple rose more than 3% and AMD spiked 5.32%, both in heavy trading. Even battered travel stocks enjoyed gains, like American Airlines up 0.92%. Because Trump was treated with an antibody drug by Regeneron, that pharma stock soared 6.72%. Monday’s rally was broad-based with all Dow components finishing green.
In Toronto, a spike in crude oil prices further lifted the TSX, which rallied 1.3%. A barrel of WTI jumped over 6% and WCS more than 9% because of the Trump news. CNQ climbed 2.88% in heavy trading. However, the cannabis stocks enjoyed a fine session. Aphria shot up 13.8% afetr an analyst rasied his price target $3 to $15.50, and Clearwater Seafoods rocketed 12.48%. TD Bank gained 1.57% as the most-traded share on Bay Street. UK cinema chain Cineworld announced it was temporarily suspending all operations in the U.S. and U.K. after the latest James Bond movie was delayed a second time. In the fallout, Cineplex slid 29%.
🍎 Apple +3%
💾 Advanced Micro Devices +5.32%
🛫 American Airlines Group +0.92%
💉 Regeneron Pharmaceuticals Inc +6.72%
🛢 Canadian Natural Rsrcs +2.88%
🌿 Aphria Inc +13.8%
🚚 Clearwater Seafoods Inc. +12.48%
🏛 Toronto Dominion +1.57%
🎞 Cineplex Inc -29%