U.S. stocks hit new highs despite Chinese economic data
The major indices on Monday began weakly but closed at session highs. The Dow finished 0.31% higher at 35,625 to make a new record high. Consumer and healthcare fueled the rally.
Notable movers were Apple up 1.35%, UnitedHealth up 1.84% and Boeing down 2.3%. Similarly, the S&P climbed 0.26% to 4,479 or double the March 2020 bottom to make its own record close. Eli Lilly rose 2.17% and FedEx advanced 1.62%, though AMD slipped 2.78% and Tesla fell 4.32%. Tech as a whole gave back a bit of its recent gains as the Nasdaq finished -0.2%.
It was a similar story in Canada as the TSX closed -0.17% after making an intraday high on Friday. Energy and materials weighed on the Toronto index as Manulife and Suncor declined 1.1% and 1.25% respectively. Organigram took a nosedive of 13.85% and most oil stock endured 3-4% losses. Faring better were Village Farms International which rallied 5.73%, Canaccord Genuity up 4.56% and SpinMaster which climbed 2.49%. The price of WTI crude sank 1.43% to below $68 per barrel while WCS declined by 1%. Gold added $11 per ounce. Bitcoin fell to just over $46,000. The markets digested disappointing economic data from China that showed its factory output and retail sales growth slowing and disappointing North American investors.
🍎 Apple +1.35%
🩺 UnitedHealth Group Inc +1.84%
🛫 Boeing -2.3%
💊 Eli Lilly & Co. +2.17%
📦 FedEx +1.62%
💾 Advanced Micro Devices -2.78%
🚗 Tesla Motors Inc -4.32%
🏛 Manulife Financial -1.1%
🛢 Suncor Energy Inc -1.25%
🌿 OrganiGram Holdings Inc. -13.85%
🌿 Village Farms International, Inc. +5.73%
🏛 Canaccord Financial Inc +4.56%
🧸 Spin Master Corp +2.49%
