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Home » Daily

TSX rallies, but U.S. markets flatten

Allan Tong Posted On February 19, 2021
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Toronto gained 0.6% on Friday at average trading volumes and was flat for the week. In contrast, New York indices rallied in the morning, but ran out of gas and ended flat. The Nasdaq and Dow barely finished positive, whole the S&P ended -0.18%. Volumes were light all week and the Vix remained steady around 22. Tech lost the most ground, and the Nasdaq declined 1.5% for the week. Concerns remain over the U.S. 10-year yield which remained at 1.34%.

Utilities and staples lagged on Wall Street while industrials rose. Caterpillar and Dow both surged by 5%. Travel stocks soared on optimism of a reopening. Royal Caribbean leapt 5% while Marriott climbed 3.26%. Tech continued to be a mixed picture as Amazon shed 2.35%, but Baidu rocketed 14%.

Despite a 2.5% in WTI’s price and nearly that much in WCS, the TSX advanced in industrials and tech. Magna jumped nearly 10% and Cineplex rallied 12.7% due to strong demand to its bond sale. On the eve of earnings season, the big Canadian banks edged up, such as TD by 1.16% which made a one-year high. Cannabis stocks continued to swing wildly, this time up. Aphria jumped 5.27% and Organigram by 3.71%. Mining stocks were also winners as Hudbay Minerals rallied 8.62%. But that was nothing compared to Bitcoin which soared another 6.7% to another new high around $55,500 or over 12% for the week.

🏗 Caterpillar +5%
🚢 Royal Caribbean Cruises +5%
🏢 Marriott International Inc. +3.26%
📦 Amazon.com -2.35%
🈲 Baidu.com +14%
🚗 Magna Int’l. (A) +10%
🎞 Cineplex Inc +12.7%
🏛 Toronto Dominion +1.16%
🌿 Aphria Inc +5.27%
🌿 OrganiGram Holdings Inc. +3.71%
⛏ Hudbay Minerals Inc. +8.62%

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