Trump catches Covid, markets sell
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Just days after what many regard as the worst U.S. presidential debate ever, Trump has caught Covid. Futures took a sharp turn down early Friday morning when the news hit. Initial reports stated that Trump and his wife are suffering mild, cold-like symptoms, but the prognosis gave the markets chills.
Tech bore the brunt of sustained selling, with the Nasdaq closing -2.22% and the S&P less than half that. Only the Dow popped into positive territory throughout the session, though it ultimately sold off to finish -0.48%. Notably, the Russell 2000 small-cap index finished positive at 0.53%. Markets are still hoping for a stimulus package out of Washington. Despite all this uncertainty, the Nasdaq closed higher this week by over 150 points.
In Canada, the TSX closed essentially flat, at 0.09%. Boston Pizza announced it was resuming its dividend and soared 43%. Several energy names bounced back Friday, such as Vermilion, up 5.69% and Husky, rising 3%. Suncor announced major layoffs, but edged up 2.9%. Actually, the price of WTI slid 4.5% and WCS by 2.6%. Elsewhere, Cineplex‘s woes continued, slipping 8.23% while tech names Shopify lost over 2% and Descartes Systems fell over 3%. In tech, tech was the biggest laggard, down 1.28%, while energy and financials rallied around 1%.
👑 Russel Metals +0.53%
🍕 Boston Pizza Royalties +43%
🛢 Vermilion Energy Inc +5.69%
🛢 Husky Energy +3%
🛢 Suncor Energy +2.9%
🎞 Cineplex Inc -8.23%
🛍 Shopify Inc. -2%
💨 Descartes -3%
