Markets extend rally amid Russian invasion
As Vladimir Putin’s Russian forces continued to attack Ukraine in an unjustified invasion, markets rallied for the second-straight day. On Friday, the S&P gained 2.24%, the Nasdaq 1.64% and the Dow 2.51% in its best day in 2022 as all 30 sectors climbed. The S&P and Nasdaq made up for its losses this week, as American stocks closed on strength. Meanwhile, the U.S. 10-year yield failed to return to 2% and ended the session around 1.963%.
Gainers included PayPal up 5.64%, Ford at 3.97%, AMD 3.82%, Chevron 5.1% and Freeport-McMoran 5.99%. The few laggards included Moderna down 3.14% and Beyond Meat sliding 9.2%.
Crude oil lost a bit of ground as WTI fell back to $92 a barrel and WCS dipped below $80. Despite this, the TSX rallied 1.66% led by energy and financials. In fact, all the sectors climbed. Winners were Interfor jumping 6.9%, Lion Electric roaring 6.67%, Crescent Point Energy surging 5.68%. Cascades by 6.12% and CIBC leaping 5.62% after a positive report and stock split. Cannabis took a back seat at Hexo slipped 5.56%, and Stantec lost 3.32%. The Toronto index actually gained half a percent over the week. Meanwhile, gold slipped below $1,900 and Bitcoin advanced 1.6% to $39,000. This weekend, the eyes of the world will remain on Ukraine.
💳 PayPal Holdings Inc. (PYPL-Q) +5.64%
🚚 Ford Motor (F-N) +3.97%
💾 Advanced Micro Devices (AMD-Q) +3.82%
🛢 Chevron Texaco (CVX-N) +5.1%
⛏ Freeport McMoran Copper & Gold (FCX-N) +5.99%
💉 Moderna (MRNA-Q) -3.14%
🥩 Beyond Meat Inc. (BYND-Q) -9.2%
🌲 Interfor Corp (IFP-T) +6.9%
⚡ The Lion Electric Co (LEV-N) +6.67%
🛢 Crescent Point Energy Corp (CPG-T) +5.68%
🌲 Cascades Inc (CAS-T) +6.12%
🏛 Canadian Imperial Bank of Commerce (CM-T) +5.62%
🌿 Hexo Corp (HEXO-T) -5.56%
👨💼 Stantec Inc (STN-T) -3.32%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +1.6%
