{"id":167566,"date":"2020-05-11T20:39:55","date_gmt":"2020-05-11T20:39:55","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=167566"},"modified":"2020-05-11T21:26:53","modified_gmt":"2020-05-11T21:26:53","slug":"tsx-and-nasdaq-rally-as-saudis-make-surprise-oil-cuts","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/tsx-and-nasdaq-rally-as-saudis-make-surprise-oil-cuts\/","title":{"rendered":"TSX and Nasdaq rally as Saudis make surprise oil cuts"},"content":{"rendered":"

Consumer staples and tech lifted the TSX up 1% past over 15,000 points. Food producer, Premium Brands Holdings<\/a>, announced their Q1 revenue YOY soared 20% and investors rewarded the stock with a 12.57% spike. Shopify<\/a> continued to march upward, rallying 6.16%.<\/p>\n

Though oil stocks declined on Monday, a barrel of WCS rose over 3% past $21 after the Saudis<\/a> made a surprise cut of one million barrels a day on top of OPEC’s existing historic cuts. The energy crisis has devastated their kingdom and they announced austerity measures. Meanwhile, Ottawa<\/a> announced last-resort loans to businesses on Monday, though the Tory opposition complained that it doesn’t rescue the battered oil sector of western Canada.<\/p>\n

South of the border was a mixed picture. The Dow closed -0.45% and the S&P was flat, but the Nasdaq climbed 0.78% after a six-day winning streak. The Dow closed 13% below its record high. Tech and healthcare were up, but financials and industrials were down. AMD<\/a> rose 4.79%, Gilead Sciences<\/a> which has been making headlines with its treatment, rallied 4.27%, but Coty<\/a>, which makes beauty products, announced a Q3 earning miss and declining sales. It plunged over 8%.<\/p>\n

🥫 Premium Brands Holdings Corp<\/a> +12.57%
\n🛍 Shopify Inc.<\/a> +6.16%
\n💿 Advanced Micro Devices<\/a> +4.79
\n🧫 Gilead Sciences Inc.<\/a> +4.27%
\n💄 Coty Inc.<\/a> -8%<\/p>\n","protected":false},"excerpt":{"rendered":"

Consumer staples and tech lifted the TSX up 1% past over 15,000 points. Food producer, Premium Brands Holdings, announced their Q1 revenue YOY soared 20% and investors rewarded the stock with a 12.57% spike. Shopify continued to march upward, rallying […]<\/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-167566","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\/167566","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=167566"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/167566\/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=167566"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=167566"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=167566"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}