Meta and tech extend rally
Thursday saw the optimism triggered by the U.S. Fed’s comments the day before continue to lift stocks, especially tech. That sentiment coincided with Meta announcing its latest quarter late Wednesday. Meta soared over 23% on a strong beat, the S&P closed 1.47%, the Nasdaq 3.25% to jump well over 12,000, though the the Dow finished -0.11%.
Rallying ahead of earnings after the closing bell were Amazon by 7.38%, Apple at 3.71% and Alphabet (A class) 7.28%. However, the three stocks sank after hours. Energy was weak; Schlumberger sank 6.12%. The U.S. 10-year yield slipped to 3.395% as Bitcoin held around $23,700.
Weakness in energy held the TSX to a flat session, shedding 10 points. Sectors were mixed with real estate and industrials rallying, but staples and materials sliding. WTI declined 0.8% to dip below $76 a barrel, Cenovus closed -4.26% and Suncor -3.75%. Elsewhere Shopify jumped 6.89%, Tricon Residential advanced 5.26%, but Canada Goose plunged 23.66% due to a bad earnings miss.
🕵️♂️ Meta Platforms, Inc. (META-Q) +23%
📦 Amazon.com (AMZN-Q) +7.38%
🍎 Apple Inc (AAPL-Q) +3.71%
🧮 Alphabet Inc. / Google (GOOG-Q) +7.28%
🛢 Schlumberger Ltd. (SLB-N) -6.12%
🛢 Cenovus Energy (CVE-T) -4.26%
🛢 Suncor Energy Inc (SU-T) -3.75%
🛍 Shopify Inc. (SHOP-T) +6.89%
🏛 Tricon Residential (TCN-T) +5.26%
🧣 Canada Goose Holdings (GOOS-T) -23.66%
