TSX and S&P make record closes
 |
It was a good end to the week as the TSX and S&P closed at record highs. The TSX rose 0.44% to climb over 20,100 while the S&P inched up 0.19%. The Dow was flat as it shed 10 points, but the Nasdaq advanced 0.35% to remain above 14,000. The Nasdaq climbed nearly 2% for the week while the Dow lost about half-a-percent. However, the week’s winner were Canadian stocks, driven by a belated reopening as the country’s economic engine, Ontario, started its gradual reopening Friday. Also, oil continue to fuel the rally as the price of WTI increased 0.7% on Friday to keep a barrel above $70 and WCS rallied 1% to approach $57.
Industrials and tech also showed strength. Tourmaline Oil gushed 8.31% after it announced it was buying Rival Black Swan Energy. Roots jumped 9.58% after announcing it had narrowed its debt and enjoyed a e-commerce jump of 50% in Q1. Its peer, Canada Goose, soared 4.59%. Faring less well were Enghouse Systems, closing at -4.14%, and MTY Food Group at -3.06%. The high-flying Canadian dollar retreated half a penny on Friday to 82.24 cents against the USD.
There were reverse trends on Wall Street as energy, industrials and healthcare struggled while tech and consumer names rallied. Eli Lilly slid 4% and Johnson & Johnson slipped 1.27%. Nvidia climbed 2.3%, but that was dwarfed by Reddit favourite AMC which leapt 15.39% to nearly $50, but shares were down nearly $9 from the start of the week. In other speculative areas, Bitcoin rose 1.68% as gold retrenched 1%. Finally, the U.S. 10-year added 1.5% to 1.453% after slipping this week and perhaps signalling that inflation fears are fading.
🛢 Tourmaline Oil Corp +8.31%
👞 Roots Corporation +9.58%
🧣 Canada Goose Holdings +4.59%
💿 Enghouse Systems -4.14%
🍱 MTY Food Group -3.06%
💊 Eli Lilly & Co. -4%
🩺 Johnson & Johnson -1.27%
💾 Nvidia Corp +2.3%
🎞 AMC Entertainment Holdings Inc. +15.39%
🅱 The Bitcoin Fund +1.68%
