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    Santa arrives with a rally

    Allan Tong Posted On December 22, 2023
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    The last trading session before Christmas saw Santa arrive with a rally, even though indices closed off the day’s highs. Mr. Klaus presented the U.S. with tame PCE (personal consumption) inflation data from November which helped to extend Thursday’s gains. Though the DOW actually dipped into the red by 18 points by the closing bell, it was still up 0.27% for the week. Meanwhile, the S&P added 0.15% for the day and 0.8% over the week, while the Nasdaq rose 0.19% Friday (just below 15,000) and 1.2% for the week. All S&P sectors were positive except discretionary.

    Notable names included Moderna rallying 4.09%, Amgen 1.72%, and Intel 1.92%. However, Nike delivered a weak forecast in its latest quarter and was hammered by 11.83%. The U.S. 10-year yield was flat around 3.9% as Bitcoin edged down 0.3% to $43,700.

    In Toronto, the TSX rose 0.56% on Friday and jumped 1.7% for the week. Only telcos declined while consumer staples soared, followed by real estate and industrials. TFI International announced an acquisition and rallied 7.85%. Elsewhere, CIBC climbed 1.36%, Tilray 6.25%, Torex Gold 5.09% and First Quantum Minerals 4.05%. WTI declined 0.35% to $73.60. Canada’s GDP came in flat in October, but missed estimates.

    Merry Christmas, everyone!

    💉 Moderna (MRNA-Q) +4.09%

    🧫 Amgen Inc. (AMGN-Q) +1.72%

    💾 Intel (INTC-Q) +1.92%

    👟 Nike Inc (NKE-N) -11.83%

    🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -0.3%

    🚚 TFI International Inc (TFII-T) +7.85%

    🏛 Canadian Imperial Bank of Commerce (CIBC) (CM-T) +1.36%

    🌿 Tilray Inc. (TLRY-Q) +6.25%

    🥇 Torex Gold Resources (TXG-T) +5.09%

    ⛏ First Quantum Minerals (FM-T) +4.05%

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