Upbeat earnings markets in Toronto and New York
Upbeat earnings on both sides of the border lifted markets in Toronto and New York to nearly break all-time highs. The TSX rose 1.16% led by consumer staples, energy and industrials while materials was the only sector to dip into the red.
Moreover, reports from Shopify and Suncor drove the rally as those stocks jumped 7% and 13.39% respectively. SHOP-T reported a 46% jumped in quarterly revenue while Suncor doubled its dividend amid a sharp rebound in crude oil prices over last year. Other notable movers: Lightspeed 6.68%, Spin Master 4.66%, Alamos Gold -6.11% and Bombardier -4.27%. WTI added 0.6% to top $83 per barrel as WCS advanced 2% past $67.
Similarly on Wall Street, Apple and Amazon’s positive results pushed the American indices higher. The Dow added 0.68%, the S&P 0.98% and the Nasdaq 1.39%, all within a hair of their record highs. All the Dow components rallied. Apple rallied 2.5%, Amazon rose 1.59% while Ford soared 8.7%, Bed bath & Beyond added 5.27%, and Ballard Power surged nearly 10%. However, the credit card companies, American Express, down 1.92%, and Visa, falling 2.75%, lost ground. Meanwhile, gold was flat right below $1,800, and Bitcoin slipped $500 below $61,000.
🛍 Shopify Inc. (SHOP-T) +7%
🛢 Suncor Energy Inc (SU-T) +13.39%
💾 Lightspeed Commerce Inc (LSPD-T) +6.68%
🧸 Spin Master Corp (TOY-T) +4.66%
🥇 Alamos Gold Inc (AGI-T) -6.11%
🚂 Bombardier Inc (B) (BBD.B-T) -4.27%
🍎 Apple (AAPL-Q) +2.5%
📦 Amazon.com (AMZN-Q) +1.59%
🚘 Ford Motor (F-N) +8.7%
🛏 Bed Bath & Beyond (BBBY-Q) +5.27%
🔋 Ballard Power Systems (BLDP-T) +10%
🏛 American Express (AXP-N) -1.92%
💳 Visa Inc. (V-N) -2.75%