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

Nasdaq makes new record close as markets pause rally

Allan TongAllan Tong Posted On June 9, 2020
0
330 Views
0
0
Shares
  • Share On Facebook
  • Tweet It


This week, you missed Past Top Picks comments by Fabrice Taylor including Tree Island Steel (A Top Pick May 08/18, Down 36%) Get Premium to receive all past top picks opinions a few hours before market open.
Get Premium

On Tuesday, New York and Toronto indices took a break from their recent rally by giving back some gains. The Dow shed 1.09%, the S&P was down 0.78% and the TSX sold off 0.66%. Reversing the trend, cyclicals and value stocks cooled off with the Russell 2000 closing -1.94%.

The biggest laggard was energy, which tumbled 3.59% in the States and lost 3.11% here. In surprising news, ChesapeakeEnergy, once worth US$37.5 billion, plummeted nearly 66% after announcing it may seek bankruptcy protection. Better news was found in tech, with Apple (up 3.16%) and Amazon (3.04%) making record closes. But Tuesday’s biggest winner was the entire Nasdaq which made a record close after touching 10,000 during the session. The tech index climbed 0.29%.

Though some Canadian energy stocks like Husky (down 7.54%) fell on Tuesday, a barrel of WCS actually rose 3%. Gold stocks rallied with New Gold popping 10.49%. Concerns about office space weighed down on REITS like Dream Office, which fell 4.46%. The overall real estate spaced lost 2.58% while the only sector closing in the green were materials, up 1.05%. Tuesday’s session was considered a pause and not a reversal of the rally, even though some investors worry that the markets are overbought.

🛢 Chesapeake Energy Corp. -66%
🍎 Apple +3.16%
📦 Amazon.com +3.04%
🛢 Husky Energy -7.54%
🏡 Dream Office REIT -4.46%

Post Views: 330
0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Fortis Inc., Power Corp and More at 52-week Highs (Apr 07-13)
Melisa R. H. April 14, 2021
Stride, Inc., Chubb Limited and 20 Stock and 1 ETF Top Picks (Apr 09-15)
Melisa R. H. April 16, 2021
Tech makes new highs as markets extend selling
Read Next

Tech makes new highs as markets extend selling

  • 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

    • Fortis Inc., Power Corp and More at 52-week Highs (Apr 07-13)
    • Stride, Inc., Chubb Limited and 20 Stock and 1 ETF Top Picks (Apr 09-15)
    • Aphria Inc, Cogeco Cable and More Earnings Reports this Week (Apr 12-16)
    • 3 Underestimated Automation Stocks
    • Wine and Pizza: 3 Uplifting Food Stocks
  • Stock Lists

    • 3 Promising Stock Upgrades: SNAP, Uber, Corus
      April 13, 2021
    • April Showers and Flowers: 4 Covid Vaccination Stocks...
      April 6, 2021
    • Wine and Pizza: 3 Uplifting Food Stocks
      March 30, 2021
    • 3 Underestimated Automation Stocks
      March 23, 2021
    • 5G Stocks Are Coming -- Are You Ready?
      March 16, 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