Tech, weed and earnings lift markets
Stocks extended gains Wednesday as the markets enjoyed a sustained rally, ending the session on strength. The TSX rose over 1% on the momentum of weed stocks such as Canopy, popping 14.87% after reporting a better-than-expected quarter, Tilray 10.21% and Aurora up 11.09% as all sectors were in the green so to speak. Bombardier climbed 6.51%, Cenovus 4.32% and Hudbay Minerals 7.06%. Easing political tensions in Russia helped fuel optimism, and crude oil modestly rebounded from the previous day’s losses with WTI returning to $90 a barrel and WCS trading around $76.50.
On Wall Street, the U.S. 10-year yield held at 1.95%, but tech stocks continued to rebound. Microsoft added 2.18%, Nvadia 6.36% and Facebook surged 5.37% after enduring a record-breaking slide in recent sessions. The Nasdaq advanced 2.08%, the S&P 1.45% and the Dow 0.86%. All sectors were up. Other gainers included Moderna jumping nearly 7%, Chipotle up 10.16% and Freeport-McMoran at 7.21%. Meanwhile, Bitcoin rose 1.6% to trade under $45,000. After hours, several big stocks reported beats and surged, including Disney, Uber, Twilio, MGM and Mattel, which could pave the way for more gains on Thursday.
🌿 Canopy Growth Corp. (WEED-T) +14.87%
🌿 Tilray Inc. (TLRY-Q) +10.21%
🌿 Aurora Cannabis (ACB-T) +11.09%
🚂 Bombardier Inc (B) (BBD.B-T) +6.51%
🛢 Cenovus Energy (CVE-T) +4.32%
⛏ Hudbay Minerals Inc. (HBM-T) +7.06%
Ⓜ Microsoft (MSFT-Q) +2.18%
💾 Nvidia Corp (NVDA-Q) +6.36%
🕵️♂️ Meta Platforms Inc / Facebook (FB-Q) +5.37%
💉 Moderna (MRNA-Q) +7%
🌶 Chipotle Mexican Grill (CMG-N) +10.16%
⛏ Freeport McMoran Copper & Gold (FCX-N) +7.21%
🅱 Bitcoin Cash (CRYPTO:BCH) +1.6%
