Net worth tracking
Login Sign Up
  • All Opinions
  • Top Picks
  • Discover
  • Companies
  • Experts
WATCH LIST
Home » Daily

Markets rally to close a choppy week

Allan TongAllan Tong Posted On July 10, 2020
0
649 Views
0
0
Shares
  • Share On Facebook
  • Tweet It


This week, you missed Past Top Picks comments by Brian Madden including Parex Resources Inc. (A Top Pick Aug 01/18, Down 7%) Get Premium to receive all past top picks opinions a few hours before market open.
Get Premium

After a shaky opening Friday morning, markets on both sides of the border rallied towards the end of the day to close positive. The TSX gained just over 100 points for the week. Mere days after Ottawa announced a monster deficit, good news arrived: Canada added nearly a million jobs in June, pushing the unemployment rate down, as the country began to reopen. Both figures beat the street.

Financials led gains, spiking nearly 2% while energy surged 1.45% as the price of WCS jumped nearly 4% and WTI over 2%. Friday’s biggest gainers included Vermilion Energy and Canopy Growth, both popping 8%. Tech took a breather as Lightspeed sold off 3%.

South of the border, the big news was that Gilead announced positive test results for its anti-COVID drug, Remdesivir. Gilead shares rose 2.16% and encouraged risk-on sentiment. For example, Norwegian Cruiselines jumped 7.89%. The tech trend continued Friday as big tech names such as Alphabet made new record closes. Tesla rocketed 10.78%. The U.S. sunbelt continues to add new virus cases, but the mortality rates continues to decline. The past week of trading has seen this tug-of-war of investor sentiment expressed in choppy trading, but tech stocks remain the clear winners with the Nasdaq rising 4% for the week.

🛢 Vermilion Energy Inc +8%
🌿 Canopy Growth Corp. +8%
💿 Lightspeed POS -3%
💉 Gilead Sciences Inc. +2.16%
🚢 Norwegian Cruise Line Holdings +7.89%
🚗 Tesla Motors Inc +10.78%

Post Views: 649
0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Xebec Adsorptions Inc, Aphria Inc and More at 52-week Highs (Jan 13-19)
Melisa R. H. January 20, 2021
KB Home, Verizon Communications and 20 Stock Top Picks (Jan 08-14)
Melisa R. H. January 15, 2021
Stocks slide on California rollback
Read Next

Stocks slide on California rollback

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Join 39,652 Investors

    Winning in the Market eBook
    We deliver stock ideas to your inbox. Sign up free, get the ebook!

  • Top Reviews

    • The Ugly Truth About Identity Theft – Free Credit Report
      10
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
  • Popular Posts

    • Xebec Adsorptions Inc, Aphria Inc and More at 52-week Highs (Jan 13-19)
    • KB Home, Verizon Communications and 20 Stock Top Picks (Jan 08-14)
    • Richelieu Hardware, Eastmain Resources Inc and More Earnings Reports this Week (Jan 18-22)
    • Questrade vs Others | The Review Competitors Don't Want you to Read (2021)
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
  • Stock Lists

    • 2 Successful Past Picks: Nuvei & Medtronic
      January 19, 2021
    • 4 Proven Financial Stocks Riding the Blue Wave
      January 13, 2021
    • Top 8 ETF Stocks To Watch in 2021
      January 8, 2021
    • Top 10 Finance Stocks To Watch in 2021
      January 7, 2021
    • Top 5 Energy Stocks To Watch in 2021
      January 6, 2021


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

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