Stockchase-logo
Loading...
    Track Stocks Watchlist
    Top Picks Today
    =iconClose Home All Opinions Top Picks Stocks Experts Top Experts Panic-proof Top 100 Stocks Monthly gems News
    Watchlist Track Stocks
    Top Picks Today
    Home » Daily

    Markets rally despite weak employment figures

    Allan Tong Posted On February 5, 2021
    0
    0
    Shares
    • Share On Facebook
    • Tweet It


    This week, you missed Past Top Picks comments by Ross Healy, including Barrick Gold (A Top Pick Feb 11/19, Up 37%) Get Premium to receive all past top picks opinions a few hours before market open.
    Get Premium

    Unemployment figures disappointed Friday, but markets on both sides of the border finished their best week early November. A tide of good earnings and overall promising sentiment on the vaccine front continued to lift stocks. The TSX rose 0.47% to make a new closing high of 18,125. Materials and energy fuelled the Toronto rally as the price of WTI made new one-year highs just short of $57 and WCS jumped 4% to $46.50.

    Notable gainers included Polaris Infrastructure up 8.19%, Peyto Exploration at 7.19% and Eldorado Gold, which popped 12% after announcing it will open a Greek mine. Blackberry, which has enjoyed a wild ride by the Reddit short sellers, leapt 8.33%. Not faring as well were Sleep Country Canada, down 7.68%, and cannabis-maker Medipharm Labs, slipping 6.1%. For now at least, investors overlooked the rise in unemployment to 9.4%, as the street badly underestimated January’s unemployment numbers.

    In the States, employment gains missed the street’s predictions, though unemployment did fall to 6.3% and expectations for more stimulus from Washington calmed investors. Though volumes were lower than usual, the major indices rose between 0.3% and 0.57%. Again, tech stocks led the rally as the Nasdaq gained 6% for the week. Activision Blizzard delivered a blow-out quarter and forecast, and the stock soared 9.64%. Exxon Mobil rose 3.35% on the momentum of the oil price, while Nike rallied 3.19%. In contrast, T-Mobile dropped 4% on a mixed Q4 report.

    ♻ Polaris Infrastructure +8.19
    🛢 Peyto Exploration & Develop. +7.19%
    🥇 Eldorado Gold +12%
    📱 BlackBerry +8.33%
    😴 Sleep Country Canada Holdings -7.68%
    🌿 Medipharm Labs Corp -6.10%
    🎮 Activision Blizzard +9.64%
    🛢 Exxon Mobil +3.35%
    👟 Nike Inc +3.19%
    📱 T-Mobile US -4%

    0
    Shares
    • Share On Facebook
    • Tweet It




    Trending Now
    This Week's Stock Picks & BNN Top Picks Summary: OSPN-Q, VET-T and 20 Stock and 4 ETF Top Picks (Jul 18-24)
    Melisa R. H. July 25, 2025
    Weekly 52-Week Low (or 52-Week High): AEM-T, OLA-T, FOM-X, QTRH-T and More 52-Week Highs and Lows (Jul 16-22)
    Melisa R. H. July 23, 2025
    Stimulus, pot and vaccines lift stocks to record highs
    Read Next

    Stimulus, pot and vaccines lift stocks to record highs

    • logo

      We’re fintech passionates that reinvest almost all our revenues into the development of Stockchase and Wealthica. We hope you enjoy Stockchase and join Premium!

    • Top Reviews

      • Questrade Review: Pros & Cons of Trading with Questrade Canada (2023)
        8.5
      • The Ugly Truth About Identity Theft – Free Credit Report
        7
      • Questrade vs Others | The Review Competitors Don’t Want you to Read (2023)
    • Popular Posts

      • This Week's Stock Picks & BNN Top Picks Summary: OSPN-Q, VET-T and 20 Stock and 4 ETF Top Picks (Jul 18-24)
      • Weekly 52-Week Low (or 52-Week High): AEM-T, OLA-T, FOM-X, QTRH-T and More 52-Week Highs and Lows (Jul 16-22)
      • Most Anticipated Earnings: PSD-T, MTL-T and more Canadian Companies Reporting Earnings this Week (Jul 21-25)
      • JULY Gems
    • Stock Lists

      • Unraveling 15 of the Best Natural Gas Stocks: A Canada-USA...
        November 10, 2023
      • 13 Recession-Proof Stocks for Portfolio Safety
        October 26, 2023
      • The Ultimate Top Drone Stocks List for Sky-High Returns...
        October 25, 2023
      • Top Hotel Stocks to Buy for your Growth Portfolio
        October 12, 2023
      • Which Brookfield Stock to Buy? BAM vs BN: the Inspiring...
        October 9, 2023



    • Stockchase neither recommends nor promotes any investment strategies.

      About us : Privacy & Terms : Contact us

    © Stockchase Inc.
    Press enter/return to begin your search