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

Stimulus stalls, Covid surges, stocks fall

Allan TongAllan Tong Posted On October 26, 2020
0
112 Views
0
0
Shares
  • Share On Facebook
  • Tweet It

The lack of a stimulus package amid rising Covid cases across Europe and North America pressured investors to sell on Monday.

The selling was across the board as the Dow plunged 2.29%, the S&P by 1.86 and the Nasdaq by 1.64%. Losses were more moderate on the TSX which closed -1.38%. The VIX spiked nearly 18%. All Dow components closed down, weighed down by UnitedHealth at -2.28%, American Express at -4.06%, Salesforce at -3.41% and Boeing at -3.9%. In Toronto, the energy sector slid 3.34%, real estate by 1.59% and industrials down 1.85%. The general uncertainty pushed WTI prices down by 3.2% and WCS by 7%. Gold remained flat around $1,900/ounce.

The day’s biggest gainers involved takeover deals. Cenovus merged with Husky Energy in an all-stock deal worth $3.8 billion, but the market wasn’t impressed as it sold off Cenovus by 8.4% and pushed up Husky by 12%. Meanwhile Brookfield bought the rest of Genworth for $1.2 billion. Genworth rocketed over 24% as Brookfield Property Partners lost 0.95%. SAP, a European tech bellweather trading in New York, plunged 23.16% on a revenue and earnings forecast cut. Covid fears pushed Cineplex down 10.14%. Also selling off was Village Farms International by 8.47%. It was a stormy Monday, just one week before the U.S. vote.

👨‍⚕️ UnitedHealth Group Inc -2.28%
💳 American Express -4.06%
💾 SalesForce.com Inc. -3.41%
🛫 Boeing -3.9%
🛢 Cenovus Energy -8.4%
🛢 Husky Energy +12%
🏛 Genworth MI Canada Inc. +24%
🏘 Brookfield Property Partners -0.95%
💿 SAP AG ADR -23.16%
🎞 Cineplex Inc -10.14%
🌿 Village Farms International, Inc. -8.47%

Post Views: 112
0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
MEG Energy Corp, Aritzia Inc. and More at 52-week Highs (Feb 24 Mar 02)
Melisa R. H. March 3, 2021
Yum China Holdings Inc, Magna Int'l. and 19 Stock and 1 ETF Top Picks (Feb 19-25)
Melisa R. H. February 26, 2021
3 Promising Diversified Coronavirus Vaccine Stocks Ahead of the Game: Fall Update
Read Next

3 Promising Diversified Coronavirus Vaccine Stocks Ahead of the Game: Fall Update

  • 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

    • MEG Energy Corp, Aritzia Inc. and More at 52-week Highs (Feb 24 Mar 02)
    • Yum China Holdings Inc, Magna Int'l. and 19 Stock and 1 ETF Top Picks (Feb 19-25)
    • Spin Master Corp, Kinaxis Inc and More Earnings Reports this Week (Mar 01-05)
    • 6 Promising Green Energy Stocks
    • 3 Daring Recovery Stocks
  • Stock Lists

    • Battle of the Stocks: 2021 Consumer Staples Stocks
      March 2, 2021
    • 3 Daring Recovery Stocks
      February 23, 2021
    • 3 Bargain Stocks: Eli Lilly, Unilever & Apple
      February 16, 2021
    • 6 Promising Green Energy Stocks
      February 9, 2021
    • 3 Dependable Canadian Stocks to Buy in 2021
      February 2, 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