Tech leads Monday rebound
After Black Friday’s 2.25-2.5% sell-off triggered by news of the Omicron variant, Monday markets recovered part of those losses, led by tech. The Nasdaq rallied 1.88%, the S&P 1.32% and the Dow 0.68%. Even as the U.S. 10-year yield climbed 2.5% to 1.512%, names like Tesla jumped 4.83% and Seagate rallied 5.52%. No surprise that vaccines stocks continued to soar; Moderna rose 11.8% as the vaccine-makers assured the public that they will adjust their vaccines to combat Omicron.
Other winners included Salesforce up 4.41% and Lam Research at 6%. Losing ground, though, were Etsy at -3.4%, Wynn Resorts by -3.14%, Clorox -2.97% and Twitter -2.74% after its CEO Jack Dorsey stepped down.
Gains were modest on the TSX which inched up 0.19% led by energy and materials. Financials were the only major sector losing ground. Rallying were Vermilion Energy by 10%, Franco Nevada at 3.44%, Canadian Tire up 2.41% and Spin Master which jumped 4.19%. In contrast, Enbridge shed over 2%, Hexo slid 4% and TFI International plunged 6%. WTI crude rose 2.2% to nearly $70 a barrel, but WCS tanked 14% to $50. Meanwhile, gold edged down 1% to $1,783 per ounce while Bitcoin jumped 3.5% past $58,000 to recover some ground after Friday’s steep sell-off. Calm and higher volumes returned Monday.
🚗 Tesla Motors Inc (TSLA-Q) +4.83%
💾 Seagate Technology (STX-Q) +5.52%
💉 Moderna (MRNA-Q) +11.8%
💨 SalesForce.com Inc. (CRM-N) +4.41%
🧬 Lam Research Corp (LRCX-Q) +6%
🛍 Etsy Inc. (ETSY-Q) -3.4%
🏢 Wynne Resorts Ltd. (WYNN-Q) -3.14%
🧴 Clorox Company (CLX-N) -2.97%
🐦 Twitter, Inc (TWTR-N) -2.74%
🛢 Vermilion Energy Inc (VET-T) +10%
⛏ Franco-Nevada Corp. (FNV-T) +3.44%
🛒 Canadian Tire Corporation Ltd. (A) (CTC.A-T) +2.41%
🧸 Spin Master Corp (TOY-T) +4.19%
🛢 Enbridge (ENB-T) -2%
🌿 Hexo Corp (HEXO-T) -4%
🚚 TFI International Inc (TFII-T) -6%
🅱 Bitcoin Cash (CRYPTO:BCH) +3.5%
