TSX hits highs, Wall St. rallies
Stocks extended recent gains on Friday to finish the week on a high note. Fueled by the ongoing commodities rally, the TSX added 0.33% to make a new high of 21,842. The Toronto index is up 1.8% for the week and 2.8% year-to-date. Industrials and tech led the charge while telcos, staples and energy lagged, even though the price of oil climbed again.
Big gainers included weed names Canopy Growth up 4.91% and Fire & Flower soaring 14.4%, Badger Infrastructure jumping 11.25% and Canada Goose soaring 9.25%. Tech also caught a bid as Lightspeed rallied 4.72% and Nuvei 7%. Losing ground were Kinross Gold at -2.23%, Vermilion Energy at -3.43% and Boardwalk REIT at -3.16%. Crude oil continued to gain with WTI adding 1.55% to $104.50 and WCS advancing 1% to $91.40.
American stocks enjoyed their best week since November 2020 as they finished positive for the week. On Friday, The S&P rallied 1.77%, the Dow 0.78% and the Nasdaq 2.05% as they finished at session highs at volumes above normal. The Nasdaq rose more than 8% during the week though is -11% for the year so far. Tech stocks, which were battered into bear territory to start the week, are leading the charge on Wall Street. Amazon rose 2.55%, Apple 2.09%, Affirm 10.78%, Airbnb 6% and Beyond Meat 7.46%. Losing ground were FedEx down nearly 4% on a quarterly miss, Colgate-Palmolive slipping 3.9% and Constellation Energy falling 3.88%. As a sign of the times, ARKK, Cathie Wood’s tech ETF, ripped 4.51% higher. Bitcoin rose 3% to nearly $42,000 while the U.S. 10-year yield stood at 2.149%.
🌿 Canopy Growth Corp. (WEED-T) +4.91%
🌿 Fire & Flower Holdings (FAF-T) +14.4%
🧱 Badger Daylighting (BDGI-T) +11.25%
🧣 Canada Goose Holdings (GOOS-T) +9.25%
💾 Lightspeed Commerce Inc (LSPD-T) +4.72%
💳 Nuvei Corp (NVEI-T) +7%
🥇 Kinross Gold (K-T) -2.23%
🛢 Vermilion Energy Inc (VET-T) -3.53%
🏛 Boardwalk REIT (BEI.UN-T) -3.16%
📦 Amazon.com (AMZN-Q) +2.55%
🍎 Apple (AAPL-Q) +2.09%
🏛 Affirm Holdings (AFRM-Q) +10.78%
🏠 Airbnb (ABNB-Q) +6%
🥩 Beyond Meat Inc. (BYND-Q) +7.46%
📦 FedEx (FDX-N) -4%
🧴 Colgate Palmolive (CL-N) -3.90%
💡 Constellation Energy (CEG-Q) -3.88%
💹 Market Summary > ARK Innovation ETF (ARKK-N) +4.51%
🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +3%