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Markets end week on record highs

Allan Tong Posted On May 7, 2021
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Despite a choppy week for tech stocks and disappointing jobless numbers on both sides of the border (which eased fears of rising interest rates), most of the major indices closed Friday on record highs. The TSX jumped nearly 1% to 19,472, led by energy and materials. Cameco missed its quarterly report, but offered rosy guidance to leap 10.64%. Canada Goose soared over 6% while Centerra Gold plunged nearly 30% after political and legal problems flared in Kyrgyz Republic where one of their mines is located.

Other big gainers included Organigram, popping 12.42% and Lithium Americas at 7.8%. In contrast, Manulife shed 1.6%, despite reporting a beat earlier this week, as the heaviest-traded stock in Toronto. The price of WTI curde inched up 0.2% while WCS retreated 0.8%.

The Dow and S&P closed at record highs. The Dow rose 0.66% to 34,777 and the S&P advanced 0.74% to 4,232. Industrials, financials and healthcare names enjoyed gains. Boeing was up 2.46%, Nike 3.24% and Freeport-McMoran 4.52%, while losers included Monster Beverage at -3.97% and IBM at -1.99%. A week ago, the Nasdaq flirted with 14,000, but Friday the tech index managed to rally 0.88% to 13,752 to make up for recent losses. Covid vaccine-maker BioNTech recovered 9.35%, Roku climbed 11.55%, but Beyond Meat slid nearly 7% after suffering Q1 losses. Meanwhile, gold added another 1% and Bitcoin rallied 3.4%.

☢ Cameco Corporation +10.64%
🧣 Canada Goose Holdings +6%
🥇 Centerra Gold Inc -30%
🌿 OrganiGram Holdings Inc. +12.42%
🥈 Lithium Americas Corp +7.8%
🏛 Manulife Financial -1.6%
🛫 Boeing +2.46%
👟 Nike Inc +3.24%
⛏ Freeport McMoran Copper & Gold +4.52%
🍾 Monster Beverage Corp -3.97%
💻 IBM -1.99%
💉 BioNTech +9.35%
📺 Roku Inc +11.55%
🥩 Beyond Meat Inc. -7%
🅱 The Bitcoin Fund +3.4%

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