Stocks rally on easing Russian tensions
Tuesday markets sharply rebounded on news that some Russian troops had retreated from the Ukrainian border as talks to avoid an invasion persist. Investors took the positive, though tentative news and shrugged off high producer prices in January to buy shares from sectors across the board, except energy. The S&P climbed 1.58%, the Nasdaq 2.53% and the Dow 1.22%.
Travel names were among the major gainers: Lyft jumped 8.78%, Carnival 6.65%, Marriott 5.76% and American Airlines 8.18% while the chipmakers soared, including Nvidia by 8.84% and Lam Research by 6.37%. Laggards included Constellation Brands, sinking 6% and oil names like Occidental down 3.35%. The U.S. 10-year yield added 3% to 2.05% as Bitcoin rose 4.6% to just over $44,000.
Crude oil gave back as WTI and WCS retreated well over 3% to around $91.60 and $77.65 per barrel respectively. Despite that oil stocks on the TSX came in flat while financials and industrials rallied. The TSX saw a 0.54% gain. Advancing were Canada Goose up 6.42%, weed names like Aurora up 7.64%, Bombardier at 4.12% and Chorus Aviation which climbed 5.87%. Many of mining stocks sank: Copper Mountain down nearly 4%, Oceanagold slipped 2.86% and Barrick fell about 2%.
🚗 Lyft (LYFT-Q) +8.78%
🚢 Carnival Corp. (CCL-N) +6.65%
🏢 Marriott International Inc. (MAR-Q) +5.76%
🛫 American Airlines Group (AAL-Q) +8.18%
💾 Nvidia Corp (NVDA-Q) +8.84%
💾 Lam Research Corp (LRCX-Q) +6.37%
🍻 Constellation Brands Inc (STZ-N) -6%
🛢 Occidental Petroleum Corp (OXY-N) -3.35%
🅱 Bitcoin Cash (CRYPTO:BCH) +4.6%
🧣 Canada Goose Holdings (GOOS-T) +6.42%
🌿 Aurora Cannabis (ACB-T) +7.64%
🚂 Bombardier Inc (B) (BBD.B-T) +4.12%
✈ Chorus Aviation Inc (CHR-T) +5.87%
⛏ Copper Mountain Mining (CMMC-T) -4%
🥇 Oceanagold Corp (OGC-T) -2.86%
🥇 Barrick Gold (ABX-T) -2%
