S&P ends week on a high
Markets ended another volatile week mostly positive, led by the S&P which rose nearly 1% Friday to a new closing high of 4,712. The S&P led the major indices by gaining 3.8% for the week. On Friday, the Dow gained 0.58% and the Nasdaq 0.71%.
Consumer stocks and especially tech rallied on Wall Street as Microsoft and Cisco added nearly 3%, while Apple made another record close by climbing 2.73%. Elsewhere, Coca-Cola popped 2.62%, Ford soared 9.81% and its competitor GM advanced 6%. As the U.S. 10-year yield slipped to 1.487%, high-growth tech stocks continued to move up. On the downside were Moderna at -5.57%, Penn National Gaming at -4.04% and Southwest Airlines at -3.74%.
Weakness in staples, materials and tech modestly pressured the TSX on Friday as it closed -0.17%, though it gained 257 points for the week to stay right below 21,000. Cannabis names took a beating as Hexo slid 5.38% and Canopy shed 6%. However, notable gainers included Laurentian Bank, up 5.65%, Parex Resources at 3.64% and several miners, such as Marathon Gold which shone 4.21%. WTI and WCS crude both rallied around 1.5% to $72 and $55.50 a barrel, respectively. Finally, Bitcoin inched up 0.75% Friday to around $48,300, but saw its fourth-straight week of declines.
Ⓜ Microsoft (MSFT-Q) +3%
📱 Cisco (CSCO-Q) +3%
🍎 Apple (AAPL-Q) +2.73%
🥤 Coca-Cola Company (KO-N) +2.62%
🚚 Ford Motor (F-N) +9.81%
🚘 General Motors Corporation (GM-N) +6%
💉 Moderna (MRNA-Q) -5.57%
♠ Penn National Gaming Inc (PENN-Q) -4.04%
🛫 Southwest Airlines (LUV-N) -3.74%
🌿 Hexo Corp (HEXO-T) -5.38%
🌿 Canopy Growth Corp. (WEED-T) -6%
🏛 Laurentian Bank (LB-T) +5.65%
🛢 Parex Resources Inc. (PXT-T) +3.64%
🥇 Marathon Gold Corp (MOZ-T) +4.21%
🅱 Bitcoin Cash (CRYPTO:BCH) +0.75%