Stocks and oil extend gains
On Tuesday, stocks and crude oil continued to bounce from last week’s steep sell-off. Tech led the way as the Nasdaq jumped 3% in a consistently strong session while the S&P gained 2%, the Dow 1.4% and the TSX 1.45%. It was Wall Street’s best day since March as all the S&P and Dow sectors rallied.
Notable gainers were Apple up 3.54%, American Express by 3.9%, BioNTech over 8%, AutoZone 7.64% and the semis, such as Nvidia which jumped nearly 8%. Apparently, investors have set aside fears of the Omicron variant, even though health authorities are still studying its power, and absorbing the Fed’s expected tapering and rate hikes.
Crude oil gushed, which lifted Canadian stocks. WTI crude leapt 3% to top $71 per barrel, and WCS soared 6% to nearly $55. All the TSX sectors rose, starting with energy and tech. Crescent Point Energy shot up 9.61%, Bombardier 5.88%, Dye & Durham 10.7% and Canada Goose climbed 7.8% after recent losses. In contrast, it was a quiet day in cryptos as Bitcoin inched up 1% to roughly $50,500 while gold held around $1,785 an ounce.
🍎 Apple (AAPL-Q) +3.54%
🏛 American Express (AXP-N) +3.9%
🧫 BioNTech (BNTX-Q) +8%
⚙ Autozone Inc. (AZO-N) +7.64%
💾 Nvidia Corp (NVDA-Q) +8%
🛢 Crescent Point Energy Corp (CPG-T) +9.61%
🚂 Bombardier Inc (B) (BBD.B-T) +5.88%
💾 Dye & Durham (DND-T) +10.7%
🧣 Canada Goose (GOOS-N) +7.8%
🅱 Bitcoin Cash (CRYPTO:BCH) +1%
