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Markets have a record-breaking week
Up, up, up. That’s how North American markets ended a week which saw one all-time high break another as the days went on. The TSX, Dow, S&P and Nasdaq all finished Friday at record highs, lifted by–you guessed it–trade deal optimism after the White House said late Thursday that a phase-one deal was close. The TSX cracked 17,000 to finish the week. Healthcare led the charge Friday on American indices, after Trump announced two rules that would force hospitals and health insurers to be transparent about their rates for medical services and drugs. Up 5.3%, United Health Group was among the healthcare stocks that jumped.
Here in Canada the much-maligned energy sector was surprisingly the strongest performer, rising 1.36%. For example, Crescent Point Energy announced it had sold off some gas assets to lighten its heavy debt. South of the border, Microsoft, made a new all-time high of $149.97, even though its arch-rival in the cloud, Amazon, is contesting the U.S. Army awarding MSFT a $10-billion contract.
It wasn’t a party for everyone Friday. Cannabis woes continued as Aurora released a brutal earnings report, which saw revenues plunge 24%, prompting a halt to expansion plans. Shares sold off 18%.
👨⚕️ UnitedHealth Group Inc +5.3%
🛢 Crescent Point Energy Corp +1.36%
🌿 Aurora Cannabis -24%
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