Tuesday saw two different trading sessions between Toronto and New York. The TSX reopened after Victoria Day to surge 1.82% pretty much throughout the day.
Cannabis stocks enjoyed a strong session. The Green Organic Dutchman soared 85%. Gains were enjoyed across the board, starting with energy, real estate and industrials. For instance, Americas Gold and Silver popped 18.1% while Torc Oil & Gas rallied nearly 19%.
In contrast, on Wall Street the session went sideways and was modestly positive until the last hour when stocks sold-off to give back a third of Monday’s big 3% gains. The Dow fell 1.59% athough the Nasdaq surrendered only 0.59%. All Dow components closed down. A crtiical report triggered the sell-off, throwing cold water on the optimistic news Monday that Moderna reported positive results for its Covid-19 vaccine. Fair enough, but this drug is still in Phase 1 testing. Moderna lost over 10% and surrendered a chunk of its monster rally Monday. One of the few gainers, though was the highly popular Zoom Video, which jumped 5.46%. Meanwhile, WTI declined 2% while a barrel of WCS tumbled 16% to $23.