TSX makes record close
The TSX rallied nearly 1% Wednesday to a new record of 19,745 as all sectors rallied particularly financials, energy and materials. BMO kicked off Canadian bank earnings weak by posting a blow-out quarter and jumping 1.46%, which bodes well for three more banks reporting Thursday.
Toronto’s biggest gainer was Blackberry, soaring 10.51%. It looks like the meme (aka Reddit) traders are back after a long pause, since GameStop and AMC were also spiking today (in New York) by 14% and 11.8% respectively. Cannabis surged as Tilray rose 7.87% and Aurora 6.08%. Cineplex leapt 6.42% as Canada inches closer to reopening with more vaccinations, and Teck Resources advanced another 5.72%. The price of WTI crude rose modestly, though WCS gained 0.83%. Gold was flat.
In the U.S., the Fed eased worries about runaway inflation and the U.S. 10-year ticked down to 1.574% by the close. The Dow was flat, but the Nasdaq and S&P edged up by 0.59% and 0.19% respectively. The American reopening continues to chug along, pushing up travel stocks like Royal Caribbean by 3.93%. Nordstrom, however, shed 5.78%, after issuing Q1 results. Walgreens dipped 4%. Beyond Meat continued to climb, up nearly 6% for the day. Bitcoin had a relatively calm session, increasing just over 2%, but stayed below $39,000. Finally, Amazon announced it was buying MGM Studios for $8.45 billion, but shares barely rose.
📱 BlackBerry +10.51%
🎮 GameStop Corp. +14%
🎞 AMC Entertainment Holdings Inc. +11.8%
🌿 Tilray Inc. +7.87%
🌿 Aurora Cannabis +6.08%
🎞 Cineplex Inc +6.42%
⛏ Teck Resources Ltd. (B) +5.72%
🚢 Royal Caribbean Cruises +3.93%
🛍 Nordstrom Inc -5.78%
💊 Walgreen Boots Alliance -4%
🥩 Beyond Meat Inc. +6%
🅱 The Bitcoin Fund +2%