Stocks and oil rise
On Thursday, stocks extended strong gains of the previous two days, but crude oil also rallied. The S&P and Dow both added 1.23%, the Nasdaq 1.33% and the TSX 1.41%. The VIX hit its lowest level since February 17, at 25. WTI jumped nearly 9% above $103 while WCS leapt 10% to $90.50.
Big gainers on Bay Street were Xebec Adsorption up 21.3%, Lightspeed up 15.85%, Nuvei popping 5.11% and Westport Fuel Systems at 14.87%. Cenovus changed the most hands and rose 3.01%. The Canadian dollar maintained levels right below $0.80. On both sides of the border, tech continued to gain, bouncing out of bear market territory of just a few days ago.
On Wall Street, Amazon climbed 2.7%, Tesla 3.73%, and Deere 4.62%, but oil names enjoyed the most gains. Devon Energy spiked 9.6% and Occidental 9.47%. All the Dow components were the in green as investors digested predictable announcements of a 0.25% interest rate hike from the U.S. Fed a day earlier. Laggards were few and far between, and included AMD down 3.19% and HP losing 3.69%. Also, Bitcoin slipped 1.3% to below $41,000, though gold inched up to $1,941 an ounce.
⚙ Xebec Adsorptions Inc (XBC-T) +21.3%
💾 Lightspeed Commerce Inc (LSPD-T) +15.85%
💾 Nuvei Corp (NVEI-T) +5.11%
🧱 Westport Fuel Systems Inc (WPRT-T) +14.87%
🛢 Cenovus Energy (CVE-T) +3.01%
📦 Amazon.com (AMZN-Q) +2.7%
🚗 Tesla Motors Inc (TSLA-Q) +3.73%
🦌 Deere & Co. (DE-N) +4.62%
🛢 Devon Energy Corp (DVN-N) +9.6%
🛢 Occidental Petroleum Corp (OXY-N) +9.47%
🧬 Advanced Micro Devices (AMD-Q) -3.19%
💻 Hewlett-Packard Co (HPQ-N) -3.69%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.3%
