Net worth tracking
Login Sign Up
Become a Premium Member
  • All Opinions
  • Top Picks
  • Experts
  • Companies
  • Discover
Watch List
Home » Daily

Tuesday rally fades though COVID-19 cases continue declining

Allan Tong Posted On April 7, 2020
0
0
Shares
  • Share On Facebook
  • Tweet It

Tuesday was looking like an extension of Monday’s rally, both lifted by declining numbers of new cases of COVID-19 in hot spots Italy, Spain and the U.S. as well as Germany, Iran, the U.K. and Canada. In early trading, New York and Toronto indices were riding 3-4% gains, but those faded throughout the day. The New York indices finished slightly in the red, though the TSX managed to stay in the green just barely.

The apparent cause was that investors were debating whether the spread of the virus is slowing, though the JohnsHopkins live map clearly indicates that it is. Perhaps investors felt that the current rally was overdone. Perhaps it was simple jitters. Whatever the cause, volatility remains in the markets. The ongoing oil war between the Saudis and Russians didn’t help, which drove WCS down over 50% to $4. The postponed OPEC meeting, now including a representative from Alberta, now takes place Thursday.

Despite the fade at the close, some beaten stocks enjoyed a revival Tuesday. Chorus Aviation soared nearly 15%, though it often endures double-digit swings either way. Chorus enjoys a long-term contract operating Air Canada’s regional routes, and AC itself rallied 9.3%. Toymaker, Spin Master, jumped 10.71% while Alaris Royalty rallied 11.73%. Speaking of beaten up, the cruiseline, Carnival, was thrown a life saver from Saudi Arabia‘s sovereign wealth fund disclosed it had bought an 8.2% stakes in the company. Carnival soared 18.5% in intraday trading, though closed up 10.68%.

Remember: stay safe.

🛫 Chorus Aviation Inc +15%
✈ Air Canada +9.3%
🧸 Spin Master Corp +10.71%
🏛 Alaris Royalty +11.73%
🚢 Carnival Corp. +10.68%

0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Brookfield Renewable Energy, Boralex Inc. and More at 52-week Highs & Lows (Aug 03-09)
Melisa R. H. August 10, 2022
3 Stocks to See Green in Green Energy Stocks
Allan Tong August 9, 2022
Read Next

The pre-Easter rally continues on COVID-19 optimism

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Top Reviews

    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
    • The Ugly Truth About Identity Theft – Free Credit Report
      7
  • Popular Posts

    • Brookfield Renewable Energy, Boralex Inc. and More at 52-week Highs & Lows (Aug 03-09)
    • 3 Stocks to See Green in Green Energy Stocks
    • Barrick Gold, ATS Automation and More Earnings Reports this Week (Aug 08-12)
    • Best Buy Company Inc, Coinbase Global and 12 Stock and 2 ETF Top Picks (Jul 29-Aug 04)
    • 3 Recession Proof Stocks
  • Stock Lists

    • 3 Stocks to See Green in Green Energy Stocks
      August 9, 2022
    • 3 Recession Proof Stocks
      August 2, 2022
    • 3 Money Stocks to Beat Inflation
      July 26, 2022
    • Our 3 defensive healthcare stocks picks
      July 19, 2022
    • Oligopolies, duopolies, 3 telcos stocks examined
      July 12, 2022


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search