Net worth tracking
Login Sign Up
  • All Opinions
  • Top Picks
  • Discover
  • Companies
  • Experts
WATCH LIST
Home » Daily

Wall Street rallies for third straight day despite record jobless claims

Allan TongAllan Tong Posted On March 26, 2020
0
209 Views
0
0
Shares
  • Share On Facebook
  • Tweet It

World markets rallied for a third straight day on Thursday, rising 20% since Monday’s sell-off and technically entering a bull market. Investors were optimistic after the U.S. Senate passed a US$2.2 trillion aid package which the House is expected to approve. In Canada, Prime Minister Trudeau doubled his package to citizens and businesses alike to $52 billion. The S&P and Dow closed well over 6% while the Nasdaq and TSX closed below 6%. In Toronto, busmaker NFI Group soared 33% in another astonishing session while tech darling, Lightspeed POS shot up 32%. Other beaten-up names that have been bouncing back include Savaria, which builds in-house lifts for the elderly, climbing 20%. By sector, industrials, staples and tech lead the gains, while energy lagged with a barrel of WCS plunging 30% below $7.

The same sectors enjoyed gains in the States with Boeing surging 13.75%, Cisco up 7.72%, plus Walgreens in the healthcare space adding 10.56%. All these gains were enjoyed despite the U.S. taking the dubious honour of having a most COVID-19 cases in the world and with New York City turning into an epicenter. Per capita, Canada has roughly half the number of cases as America.

Thursday’s rally are making investors sighing with relief, but analysts suffer no illusions that volatility will continue and are expecting the next downturn. Everyone expected the number to be bad, but 3.28 million American filed for unemployment relief in the week ending March 21. There’s little doubt that he U.S. (among many countries) is now in a recession, though the consensus is that the collective stimulus rushed by several governments has spared the world from a Great Depression. On Bay and Wall streets, the signal is clear: take your time to buy.

🚌 New Flyer Industries Inc. +33%
💿 Lightspeed POS +32%
🛍 Savaria Corp +20%
🛫 Boeing +13.75%
💻 Cisco +7.72%
💊 Walgreen Boots Alliance +10.56%

Post Views: 209
0
Shares
  • Share On Facebook
  • Tweet It




Trending Now
Xebec Adsorptions Inc, Aphria Inc and More at 52-week Highs (Jan 13-19)
Melisa R. H. January 20, 2021
C3.ai, Inc., Linde PLC and 18 Stock Top Picks (Jan 15-21)
Melisa R. H. January 22, 2021
Read Next

Markets give back to end a positive, but turbulent week

  • We're the Stock Chasers
    Hi! We are the Stock Chasers. We write about investing and finance tools we love. We’re passionate about fintech and we invest almost all our affiliate and advertising revenues into the development of Stockchase and Wealthica. We hope you enjoy the stock ideas and product reviews!
  • Join 39,652 Investors

    Winning in the Market eBook
    We deliver stock ideas to your inbox. Sign up free, get the ebook!

  • Top Reviews

    • The Ugly Truth About Identity Theft – Free Credit Report
      10
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
      8.5
    • Questrade vs Others | The Review Competitors Don’t Want you to Read (2021)
      7.4
  • Popular Posts

    • Xebec Adsorptions Inc, Aphria Inc and More at 52-week Highs (Jan 13-19)
    • C3.ai, Inc., Linde PLC and 18 Stock Top Picks (Jan 15-21)
    • Richelieu Hardware, Eastmain Resources Inc and More Earnings Reports this Week (Jan 18-22)
    • Questrade vs Others | The Review Competitors Don't Want you to Read (2021)
    • Questrade Review: Pros & Cons of Trading with Questrade Canada (2021)
  • Stock Lists

    • 2 Successful Past Picks: Nuvei & Medtronic
      January 19, 2021
    • 4 Proven Financial Stocks Riding the Blue Wave
      January 13, 2021
    • Top 8 ETF Stocks To Watch in 2021
      January 8, 2021
    • Top 10 Finance Stocks To Watch in 2021
      January 7, 2021
    • Top 5 Energy Stocks To Watch in 2021
      January 6, 2021


  • Get $50 in free trades.


  • Stockchase neither recommends nor promotes any investment strategies.

    About us : Privacy & Terms : Contact us

© Stockchase Inc.
Press enter/return to begin your search