Stocks and oil rebound
On Thursday, stocks rebounded from recent sharp selling triggered by fears of the Omicron variant. The Dow rose 1.82%, the S&P 1.42% and the Nasdaq 0.83%. The ongoing see-saw action saw travel names like American Airlines recover 6.73%, Booking Holdings 5.1% and Airbnb 4.05%.Industrials also rebounded as Boeing soared 7.23%. Consumer stocks like Disney rallied 3.46% and financials jumped including American Express and Visa both over 4%.
Losing ground were Pfizer at -3.27%, Moderna at -3.09% and Micron which closed -3.04%. The U.S. 10-year climbed over 2% to 1.434% after seeing days of rollercoaster moves, though Bitcoin was flat at $57,000 and gold slipped nearly 1% to $1,770 an ounce.
Though OPEC+ decided to raise output in January, WTI crude rose 25% to nearly $67 pre barrel while WCS added 3.5% to around $48.50. Oil’s rally helped push the TSX up 1.35%. Energy as well as financials, given bank earnings week, rallied on Bay Street. TD announced a healthy beat, a dividend hike and share buyback and surged nearly 5%. Its peers also rose, including the Bank of Nova Scotia which advanced 2.59%. Meanwhile, Bombardier jumped 8.39%, Air Canada recovered 4.47%, Blackberry added nearly 5% and Crescent Point Energy rallied 2.55%. In contrast, Canada Goose dove 4.57% and Stelco slipped 3.8%. The Canadian dollar remained at $0.78 against the USD.
🛫 American Airlines Group (AAL-Q) +6.73%
🧳 Booking Holdings Inc. (BKNG-Q) +5.1%
🏠 Airbnb (ABNB-Q) +4.05%
🛫 Boeing (BA-N) +7.23%
👸 Walt Disney Co. (DIS-N) +3.46%
🏛 American Express (AXP-N) +4%
💳 Visa Inc. (V-N) +4%
💉 Pfizer Inc (PFE-N) -3.27%
💉 Moderna (MRNA-Q) -3.09%
💾 Micron Technology (MU-Q) -3.04%
🏛 Toronto Dominion (TD-T) +5%
🏛 Bank of Nova Scotia (BNS-T) +2.59%
🚂 Bombardier Inc (B) (BBD.B-T) +8.39%
🛫 Air Canada (AC-T) +4.47%
📱 BlackBerry (BB-T) +5%
🛢 Crescent Point Energy Corp (CPG-T) +2.55%
🧣 Canada Goose (GOOS-N) -4.57%
⛓ Stelco Holdings Inc. (STLC-T) -3.8%
