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Value and growth rally

Allan Tong Posted On June 21, 2021
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Markets began the week erasing recent losses by rallying in both growth and value. All 30 Dow stocks finished in the green as the major indices closed near session highs. The Dow jumped 1.76%, the S&P 1.4%, the Nasdaq 0.79% and the TSX 0.78%. The rally was broadly based as tech, oil, financials and industrials all enjoying gains.

Notable movers included the credit card companies American Express, popping 4.25%, and Visa at 1.7%. Oil names gushed, including Diamondback Energy up 6.17%. The price of WTI leapt nearly 3% while WTI easily cleared 3%. Apple climbed 1.41%, Alphabet 1.42% and Boeing 3.34%. However, not everything rallied. Xilinx closed -3.33% and AMD -2.43%. Meanwhile, Bitcoin continued its rollercoaster ride, tanking 7.6% by the close to hover around $32,600.

Oil’s strength fueled Toronto’s energy sector by 4.66%, as industrials, real estate and materials also gained. Cardinal Energy soared over 14% as Crescent Point leapt 8.81%, CNQ 5% and Meg Energy 7.86%. Artis REIT announced it was selling its Toronto holdings and rallied 5.2%. In contrast, Lundin Mining announced bad news about it Candelaria Copper Mining Complex, and shares tanked 9.36%. Also on the losing end were Transat at -8.88% and Kinaxis at -3.78%.

🏛 American Express +4.25%
💳 Visa Inc. +1.7%
🛢 Diamondback Energy +6.17%
🍎 Apple +1.41%
🧮 Alphabet Inc. / Google +1.42%
🛫 Boeing +3.34%
💾 Xilinx Inc -3.33%
💾 Advanced Micro Devices -2.43%
🅱 The Bitcoin Fund -7.6%
🛢 Cardinal Energy Ltd +14%
🛢 Crescent Point Energy Corp +8.81%
🛢 Canadian Natural Rsrcs +5%
🛢 MEG Energy Corp +7.86%
🏛 Artis Real Estate Investment Trust +5.2%
⛏ Lundin Mining Corp. -9.36%
🛫 Transat AT Inc. -8.88%
💾 Kinaxis Inc -3.78%

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