{"id":145519,"date":"2020-02-05T22:27:17","date_gmt":"2020-02-05T22:27:17","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=145519"},"modified":"2020-02-06T01:11:29","modified_gmt":"2020-02-06T01:11:29","slug":"markets-make-new-highs-on-coronavirus-optimism","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/markets-make-new-highs-on-coronavirus-optimism\/","title":{"rendered":"Markets make new highs on coronavirus optimism"},"content":{"rendered":"

Markets continued to grind higher Wednesday with the the Dow and S&P, in particular, making a new high and closing as much as 1.68% up while the TSX rallied 0.79% to make its own new high at 17,651. Even crude oil, which had entered a bear market, leapt 3.2%; Canadian oil stocks gained 3.7% as a sector while stocks such as Crescent Point Energy<\/a> shot up 8%. Investors were confident that the worst of the coronavirus is now behind us. In a reversal, the Nasdaq lagged the other indices, climbing only 0.79%.<\/p>\n

One pressure point came from Tesla<\/a>, which broke its parabolic six-day run, plunging over 17% or $152. The e-car giant was down as much as 21% during the session after a Tesla exec warned that the coronavirus<\/a> will delay deliveries of its Model 3 in China. Meanwhile, to little surprise, the U.S. Senate acquitted Trump and ended his impeachment<\/a> hearings.<\/p>\n

Though the cannabis sector has been recovering in the past month, Tilray<\/a> announced layoffs to 10% of its workforce. Tilray shed over 3% in trading. Also losing ground Wednesday was Bombardier<\/a>, down nearly 4% in heavy trading. However, stocks that rely on Chinese revenues roared back. For example, Manulife<\/a> recovered almost 2% though it’s still 4% off last month’s highs.<\/p>\n

🛢 Crescent Point Energy Corp<\/a> +8%
\n🚗 Tesla Motors Inc<\/a> -21%
\n🌿 Tilray Inc.<\/a> -3%
\n🚂 Bombardier Inc<\/a> -4%
\n🏛 Manulife Financial<\/a> +2%<\/p>\n","protected":false},"excerpt":{"rendered":"

Markets continued to grind higher Wednesday with the the Dow and S&P, in particular, making a new high and closing as much as 1.68% up while the TSX rallied 0.79% to make its own new high at 17,651. Even crude […]<\/p>\n","protected":false},"author":12,"featured_media":345019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-145519","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/145519","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=145519"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/145519\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/345019"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=145519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=145519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=145519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}