{"id":151578,"date":"2020-03-05T00:19:57","date_gmt":"2020-03-05T00:19:57","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=151578"},"modified":"2020-03-05T00:39:46","modified_gmt":"2020-03-05T00:39:46","slug":"boc-cuts-rates-as-u-s-markets-bounce-back-on-biden-win","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/boc-cuts-rates-as-u-s-markets-bounce-back-on-biden-win\/","title":{"rendered":"BOC cuts rates as U.S. markets bounce back on Biden win"},"content":{"rendered":"

Following their American peers, the Bank of Canada<\/a> on Wednesday cut the benchmark interest rate by 50 basis points to 1.25%. Both central banks are responding to the negative impact of the coronavirus on their economies and world growth. The TSX gained 2.17% in spirited trading. Tech soared, with Shopify<\/a> rising 7.7% and its unofficial junior, Lightspeed POS<\/a> nipping at its heels at 7.5%. Real estate, telcos, industrials and staples also enjoyed a strong session.<\/p>\n

Meanwhile in the States, Democrat hopeful Joe Biden<\/a> shone in Super Tuesday’s voting in a surprisingly strong showing. The Dow rallied 4.5% and the S&P rose 4.2% as investors were relieved that the moderate, market-friendly Biden outshone the leftist favourite, Bernie Sanders. In fact, Biden may be gaining momentum<\/a> on frontrunner Sanders.<\/p>\n

It’s the second time in three days that the Dow has swung over 1,000 points. Healthcare shareholders were particularly relieved, with the S&P healthcare sector popping 5.8% and UnitedHealth<\/a> rocketing 10.7%. Another big gainer was Visa<\/a>, up 4.61% while chipmakers rallied. AMD<\/a> spiked 7.19%. While the markets were hopeful on Wednesday, the coronavirus<\/a> continued to spread outside China (where new cases have been declining), including the U.S, and Japan. American futures fell Wednesday evening.<\/p>\n

🛍 Shopify Inc.<\/a> +7.70%
\n💿 Lightspeed POS<\/a> +7.50%
\n👨‍⚕️ UnitedHealth Group Inc<\/a> +10.70%
\n🏛 Visa Inc.<\/a> +4.61%
\n💻 Advanced Micro Devices<\/a> +7.19%<\/p>\n","protected":false},"excerpt":{"rendered":"

Following their American peers, the Bank of Canada on Wednesday cut the benchmark interest rate by 50 basis points to 1.25%. Both central banks are responding to the negative impact of the coronavirus on their economies and world growth. The […]<\/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-151578","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\/151578","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=151578"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/151578\/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=151578"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=151578"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=151578"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}