Stocks rip higher to cap a rocky month
Encouraged by surprisingly strong U.S. manufacturing numbers, markets on Wall and Bay streets jumped higher Monday, led by tech, and closed on strength. The S&P rallied 1.89% during the session, but lost 5.5% for January, the Nasdaq soared 3.41% but shed 9.6% for the month while the Dow added 1.14%. All the major S&P sectors were in the green.
Winners included Xilinx up 8.77%, Apple 2.61%, Amazon 3.56%, Tesla 9.85% and Netflix 10.88% after last week’s sell-off. Healthcare had a rough session as Regeneron closed -2.66% and Pfizer -3.02% and energy names were choppy, including Halliburton at -1.98%. Meanwhile, Bitcoin advanced 2% to $38,500 while the U.S. 10-year yield held at 1.78%.
Not to be outdone, the TSX rallied 1.72% on Monday (down 1.11% in January) as tech stocks soared over 7%, trailed by financials and energy. Gainers included Lightspeed, popping 11.82% after sliding in recent weeks, Canopy jumping 10.13%, Shopify 10.14% and Lion Electric 8.73%. Laggards included Cascades closing -5.36% after warning of supply constraints and Methanex -2.89%. Crude oil continued to march upward as WCS rose 1.7% past $88 per barrel and WCS rallied 1.55% to around $75.50. That marks two straight sessions of convincing gains. Investors are waiting to see if this rebound will continue.
🧬 Xilinx Inc (XLNX-Q) +8.77%
🍎 Apple (AAPL-Q) +2.61%
📦 Amazon.com (AMZN-Q) +3.56%
🚗 Tesla Motors Inc (TSLA-Q) +9.85%
📺 Netflix Inc. (NFLX-Q) +10.88%
👨⚕️ Regeneron Pharmaceuticals Inc (REGN-Q) -2.66%
💉 Pfizer Inc (PFE-N) -3.02%
🛢 Halliburton Co (HAL-N) -1.98%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2%
💾 Lightspeed Commerce Inc (LSPD-T) +11.82%
🌿 Canopy Growth Corp. (WEED-T) +10.13%
🛍 Shopify Inc. (SHOP-T) +10.14%
🚘 The Lion Electric Co (LEV-N) +8.73%
🌲 Cascades Inc (CAS-T) -5.36%
🧪 Methanex Corp (MX-T) -2.89%