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Tech leads Friday slide

The post-U.S. election rally was definitely over by Friday with all major indices on Wall Street selling sharply. Tech, which rallied the most after the vote, sank the most during the session and week. The Nasdaq closed the day -2.24% […]

TSX hits high, Wall Street slumps

The TSX traded above 25,000 for all of Thursday and ended the session with a new closing high. The Canadian index rose 0.22%, led by energy, but lagged by tech. Major movers: Atkins Realis Group leapt 15.67%, Paramount Resources 15.32%, […]

TSX hits high, Wall Street flat

As the post-election rally faded in the U.S., the TSX climbed 0.26% higher on Wednesday to make a new closing high. It was just shy of 25,000, led by outsized gains in tech stocks. Actually, only four of 11 sectors […]

Shopify leads TSX to 25,000, Wall St. fades

Shopify reported a blow-out quarter that helped lift the TSX to 25,000 Tuesday morning. The TSX closed below that mark, but still notched a 0.54% gain. Nearly all sectors lost ground as materials and energy led the laggards, though. Shopify […]

Markets both high and flat

The post-US election rally continued into the new week, though only partially. The Dow rose another 0.68% or 300 points to a new high of almost 44,300 while the TSX advanced 0.12% nearly its own new high. TSX sectors were […]
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Home » Daily

Oil jumps as stocks sag

Allan Tong Posted On April 14, 2021
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Markets on both sides of the border closed on weakness Wednesday and were in the red, apart from the Dow which inched up 0.16%. Tech gave up yesterday’s gains as the Nasdaq closed -1% and high-flyers Zoom and Tesla both finished -3.95%. Similarly, Nvdia ended the session -2.57%. The S&P moved -0.41% and the TSX -0.13% for the day.

Industrials, financials and energy led the Dow upward as the banks kicked off earnings season: Wells Fargo jumped 5.63%, Morgan Stanley rose 1.65% and Bank of America advanced 1.63% after the group reported strong earnings. Despite blowing past estimates, JP Morgan faded throughout Wednesday to finish -1.87%. The other big news on Wall Street was the debut of Coinbase which helped send Bitcoin to intraday highs, though the latter lost 1.2% by the close. Coinbase itself closed 14% below its $381 opening price.

On Bay Street, crude oil fueled the energy sector. Meg Energy soared nearly 10% while Suncor rallied 3.91%, Whitecap Resources by 9.04% and Cenovus Energy 5.93% all in heavy trading. The price of WTI and WCS leapt 4.5-5%. Speaking of gasoline, AutoCanada soared nearly 28% after announcing a $100-million offering and robust preliminary Q1 results. Not doing so well were Organigram at -10.99% and Shopify at -5.11% on a tough day for tech stocks.

📹 Zoom Video Communications Inc. -3.95%
🚗 Tesla Motors Inc -3.95%
💾 Nvidia Corp -2.57%
🏛 Wells Fargo +5.63%
🏛 Morgan Stanley +1.65%
🏛 Bank of America +1.63%
🏛 JP Morgan Chase & Co -1.87%
🅱 The Bitcoin Fund -1.2%
🅱 Coinbase +14%
🛢 MEG Energy Corp +10%
🛢 Suncor Energy Inc +3.91%
🛢 Whitecap Resources +9.04%
🛢 Cenovus Energy +5.93%
🚘 AutoCanada Inc. +28%
🌿 OrganiGram Holdings Inc. -10.99%
🛍 Shopify Inc. -5.11%




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