Wall Street pauses as Bay Street climbs

This week, you missed Past Top Picks comments by David Fingold, including Elbit Systems (A Top Pick May 27/19, Down 13%) Get Premium to receive all past top picks opinions a few hours before market open.

On Tuesday, the TSX climbed 0.41% as oil rallied on reopening hopes around the world. The price of WTI and WCS crude both leapt over 1% while the IMF raised the 2021 GDP outlook for planet Earth from 5.5% to 6%, but bumped up Canada’s from 3.6% to 5%, though it also warned of our overheated real estate prices. Materials, telcos and tech also gained on the TSX.

Big gainers included Cineplex, up 7.41%, Oceanagold 6.84% and Lightspeed 5.86%. On the flipside, cryptos and cannabis lost ground: Hut 8 Mining closed -7.08%, Organigram -5.05% and Aphria -4.78%.

It was a quieter story on Wall Street as the major indices gave back around 0.1% following two record-breaking sessions. Gains and losses were modest, and the Dow components were mixed, though consumer names showed the most strength. Nike, for instance, gained 1.51%, though Walgreens closed -1.87%. Breaking out were Etsy, jumping 4.47%, while Blink Charging soared 6.34%. The U.S. 10-year plunged by nearly 3% to 1.6507%, while gold rose about 1% and Bitcoin shed 1.%. As U.S. markets paused today, optimism continued to reign as President Biden accelerated his vaccination schedule to May 1 when all American adults would receive shots. In contrast, Canada badly lags, but to date 6.55 million jabs have protected 9% of Canadians.

🎞 Cineplex Inc +7.41%
🥇 Oceanagold Corp +6.84%
💾 Lightspeed POS +5.86%
🖨 Hut 8 Mining Corp. -7.08%
🌿 OrganiGram Holdings Inc. -5.05%
🌿 Aphria Inc -4.78%
👟 Nike Inc +1.51%
💊 Walgreen Boots Alliance -1.87%
🛍 Etsy Inc. +4.47%
🚗 Blink Charging Co. +6.34%
🅱 The Bitcoin Fund -1%