Thursday’s session was mixed as the latest American jobless claims declined from 6.615 million last week to the 5.245 million. Investors read this as a positive thing, though the figures remaining staggering. Also in the mix were plans by Trump to reopen the U.S. economy. As the new number of new COVID-19 cases declines, EU powerhouse, Germany, has just announced plans to gradually reopen its economy and relax lockdown measures, joining other European nations including Austria and Spain, the hardest-hit European nation.
On Thursday, tech stocks continue to lead the charge with the Nasdaq rallying 1.66%, but the Dow and S&P closing only modestly positive. Amazon continued its run, climbing 4.36% in heavy trading and hitting a record high of $2,408. Other gainers included the health sector with Regeneron Pharmaceuticals rising 5.52%, and Dollar Tree rising 3% as consumers continued to flock to its still-open stores.
No surprise that travel and leisure continued to get hammered. American Airlines dove nearly 10%. However, Boeing announced after hours it would resume production next week. Boeing plunged 8% in the Thursday session, but regained all that in immediate after-hours trading. Another after-hours headline was Gilead announcing promising results for a COVID-19 treatment, which sent the stock soaring over 135. The TSX lagged Wall Street, shedding 0.42%. No surprise that energy led the laggards, which included financials and real estate. On the flipside, tech, staples and materials enjoyed healthy gains. Alcanna surged 9.46%, Blackberry leapt 7.82% and Shopify rallied 5.84%