U.S. rally pauses as TSX gains
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On Tuesday, Wall Street gave back some of Monday’s gains, which were fuelled by positive news about Moderna’s Covid vaccine. Bay Street, however, closed up 0.34% as energy, real estate and financials posted gains, though materials and industrials lagged.
The Moderna rally continued as Cineplex soared nearly 14% and Chorus Aviation climbed 4.41%. Cannabis stocks continue to grow like a weed as Aurora rose 2.73% in heavy trading and Village Farms International popped 23% just days after posting its latest quarter. Banks continued to rise as Royal increased 1.58 in heavy trading. CAE tumbled 6.43% after buying a European company and announcing a $300 million public offering. The price of WCS rose steadily and nearly gained 1% by the closing bell.
It was a different story in the United States which is struggling to contain the rising number of Covid cases. New Jersey, California and Iowa announced new restrictions, and the sentiment weighed on the markets. The Nasdaq closed -0.21%, and the S&P and Dow shed around half-a-percent, giving back some of Monday’s strong gains. However, the major indices closed with upward momentum while the Russell 2000 gained 0.37%. Big tech names made headlines. Amazon launched an online pharmacy service, which hammered digital- and tele-health names, including upstart GoodRx by 22.5%. Amazon stock itself bared moved. Meanwhile, Tesla will join the S&P next month. The stock surged 8.21% on the news. Otherwise, it was a weak session for tech and most Dow sectors. In fact, it was a mixed picture on Wall Street. One of the few bright spots was Boeing, up 3.78%
🎞 Cineplex Inc +14%
🛫 Chorus Aviation Inc +4.41%
🌿 Aurora Cannabis +2.73%
🌿 Village Farms International, Inc. +23%
🏛 Royal Bank +1.58%
🚚 CAE Inc -6.43%
🏛 iShares Russell 2000 ETF +0.37%
👨⚕️ GoodRx Holdings -22.50%
🚗 Tesla Motors Inc +8.21%
🛫 Boeing +3.78%
