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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% […]

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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 […]

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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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Rally slows as energy surges

Allan Tong Posted On February 3, 2021
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Markets limped to modest gains Wednesday despite strong reports from tech stocks and energy surging to 12-month highs. The Nasdaq dipped into the negative, the Dow and S&P barely closed in the positive, and all three trailed the TSX, which gained 0.18%. The indices closed on weakness and follows to days of strong gains.

Investors overlooked Amazon’s blow-out quarter, and fretted over Jeff Bezos stepping down as CEO (though he’ll remain as executive chairman). AMZN slipped 2%. However, Alphabet jumped 7.4% after delivering an impressive quarter. The price of oil hit one-year highs after an American stock drawdown. WTI popped 2% and WCS 1.5%. Marathon Oil leapt 5.69%, Exxon rose 3.92%, Meg Energy jumped 12.61% and Vermilion climbed 5.59%.

Another winning sector was cannabis as many expect a Biden presidency to legitimize this industry further in America. Aphria soared 12.62% in New York in heavy trading, and Organigram advanced 20.4% in Toronto. Also gaining on the TSX was ATS Automation, popping 14.14% on a strong Q3 report. Telus International debuted on the NYSE, finishing up 21.6%. Meanwhile, the Reddit short squeeze continued to lose steam as GameStop rallied only 2.68% after yet another rollercoaster session. Meanwhile, the price of gold held steady and Bitcoin rallied 4%.

📦 Amazon.com -2%
🧮 Alphabet Inc. / Google +7.4%
🛢 Marathon Oil +5.69%
🛢 Exxon Mobil +3.92%
⚡ MEG Energy Corp +12.61%
⚡ Vermilion Energy Inc +5.59%
🌿 Aphria Inc +12.62%
🌿 OrganiGram Holdings Inc. +20.40%
⚙ ATS Automation +14.14%
📱 Telus International +21.60%
🎮 GameStop Corp. +2.68%
📀 The Bitcoin Fund +4%




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