Net worth tracking
Login Sign Up
  • All Opinions
  • Top Picks
  • Discover
  • Companies
  • Experts
WATCH LIST
Home » Daily

TSX and Nasdaq rally as Saudis make surprise oil cuts

Allan TongAllan Tong Posted On May 11, 2020
0
180 Views
0
0
Shares
  • Share On Facebook
  • Tweet It

Consumer staples and tech lifted the TSX up 1% past over 15,000 points. Food producer, Premium Brands Holdings, announced their Q1 revenue YOY soared 20% and investors rewarded the stock with a 12.57% spike. Shopify continued to march upward, rallying 6.16%.

Though oil stocks declined on Monday, a barrel of WCS rose over 3% past $21 after the Saudis made a surprise cut of one million barrels a day on top of OPEC’s existing historic cuts. The energy crisis has devastated their kingdom and they announced austerity measures. Meanwhile, Ottawa announced last-resort loans to businesses on Monday, though the Tory opposition complained that it doesn’t rescue the battered oil sector of western Canada.

South of the border was a mixed picture. The Dow closed -0.45% and the S&P was flat, but the Nasdaq climbed 0.78% after a six-day winning streak. The Dow closed 13% below its record high. Tech and healthcare were up, but financials and industrials were down. AMD rose 4.79%, Gilead Sciences which has been making headlines with its treatment, rallied 4.27%, but Coty, which makes beauty products, announced a Q3 earning miss and declining sales. It plunged over 8%.

🥫 Premium Brands Holdings Corp +12.57%
🛍 Shopify Inc. +6.16%
💿 Advanced Micro Devices +4.79
🧫 Gilead Sciences Inc. +4.27%
💄 Coty Inc. -8%

Post Views: 180
0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Xebec Adsorptions Inc, Aphria Inc and More at 52-week Highs (Jan 13-19)
Melisa R. H. January 20, 2021
C3.ai, Inc., Linde PLC and 18 Stock Top Picks (Jan 15-21)
Melisa R. H. January 22, 2021
Read Next

Markets sell-off in afternoon trading, Dr. Fauci comments on vaccine progress

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Join 39,652 Investors

    Winning in the Market eBook
    We deliver stock ideas to your inbox. Sign up free, get the ebook!

  • Top Reviews

    • The Ugly Truth About Identity Theft – Free Credit Report
      10
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
  • Popular Posts

    • Xebec Adsorptions Inc, Aphria Inc and More at 52-week Highs (Jan 13-19)
    • C3.ai, Inc., Linde PLC and 18 Stock Top Picks (Jan 15-21)
    • Richelieu Hardware, Eastmain Resources Inc and More Earnings Reports this Week (Jan 18-22)
    • Questrade vs Others | The Review Competitors Don't Want you to Read (2021)
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
  • Stock Lists

    • 2 Successful Past Picks: Nuvei & Medtronic
      January 19, 2021
    • 4 Proven Financial Stocks Riding the Blue Wave
      January 13, 2021
    • Top 8 ETF Stocks To Watch in 2021
      January 8, 2021
    • Top 10 Finance Stocks To Watch in 2021
      January 7, 2021
    • Top 5 Energy Stocks To Watch in 2021
      January 6, 2021


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search