Markets rebound to end choppy week
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Led by big tech, markets on both sides of the border rebounded Friday to end a choppy week which saw new highs yet sharp sell-offs. The Dow rose 0.64%, the S&P 0.81% and the Nasdaq 1.19% as big tech rallied, all closing at session highs. Microsoft made new highs above $300 after jumping 2.56%. Likewise, Adobe scaled fresh heights after climbing 1.52%, and Nvidia soared over 5% to surpass $200. Meanwhile, Apple and Telsa each added 1% to their share prices. Apart from energy which was flat, all the major Dow sectors were positive. Home Depot popped nearly 2% while Walgreens rallied 1.61%. However, from a week’s perspective, the Nasdaq slipped 0.4%, the S&P lost half-a-percent while the Dow slid about 0.9%. Investors continue to watch the Delta variant which may or may not slow world economic growth. Wall Street also continues to eye the Fed and its rate policies.
Meanwhile, the TSX gained 0.61% to end the week, as all the major sectors showed robust gains. Oil names regained some lost ground, sich as CNQ which advanced 1.23%. Green power name, Algonquin, surged 1.62%, and Canadian tech enjoyed gains in Lightspeed, up 3.64%, and upstart Nuvei, jumping 3.69%. However, Hexo tanked nearly 28% after announcing a public offering. Interfor sank about 4% to reflect the ongoing decline in lumber prices. After tumbling a full cent the day before, the CAD held steady right below 78 cents. The price of WTI actually sank 2% to nearly $62 while WCS slid 4%. The TSX itself retreated about 0.7% for the week.
Ⓜ Microsoft +2.56%
💾 Adobe Systems +1.52%
💿 Nvidia Corp +5%
🍎 Apple +1%
🚗 Tesla Motors Inc +1%
🛠 Home Depot +2%
💊 Walgreen Boots Alliance +1.61%
🛢 Canadian Natural Rsrcs +1.23%
♻ Algonquin Power & Utilities Corp +1.62%
📀 Lightspeed Commerce Inc +3.64%
💳 Nuvei Corp +3.69%
🌿 Hexo Corp -28%
🌲 Interfor Corp -4%
