{"id":170072,"date":"2020-05-21T20:37:06","date_gmt":"2020-05-21T20:37:06","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=170072"},"modified":"2020-05-21T23:10:41","modified_gmt":"2020-05-21T23:10:41","slug":"markets-inch-down-on-cautious-outlook","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/markets-inch-down-on-cautious-outlook\/","title":{"rendered":"Markets inch down on cautious outlook"},"content":{"rendered":"

Thursday’s session opened positively, but soon traded in the red as investors took a cautious approach. Losses were moderate, with the Dow -0.41% and the Nasdaq, the best performer on Wall Street during this pandemic, shedding 0.97%. (The Nasdaq is only 5% below its mid-February record high.) The only S&P sector that closed higher Thursday was industrials. The TSX lost 0.76% as only real estate and especially tech closed higher. Lifting tech was Lightspeed<\/a> who reported revenues soaring 70% in its last quarter. The stock shot up almost 38%. Meanwhile, cannabis stocks continued to climb with Aurora<\/a> leaping over 35% and Cronos<\/a> jumping about 11%.<\/p>\n

Luxury retailers continue to cut back staff. Canada Goose<\/a> will reduce<\/a> 125 jobs and L Brands<\/a> will shutter 250 Victoria’s Secrets<\/a> stores. The stocks climbed 1.25% and 18.25% respectively Thursday. Meanwhile, Shopify<\/a> will keep its employees, but they will be working from home for the rest of this year. The tech giant rose 3.83%.<\/p>\n

Outgoing Bank of Canada Governor, Stephen Poloz<\/a>, expects interest rates to remain low (currently 0.25%) and that Canada is on track to meet a best-case scenario for recovery (growth shrinking 15% in Q2). He urged patience and, though a second wave of outbreaks is possible, Poloz felt generally optimistic.<\/p>\n

💿 Lightspeed POS<\/a> +38%
\n🌿 Aurora Cannabis<\/a> +35%
\n🌿 Cronos Group Inc<\/a> +11%
\n🧣 Canada Goose Holdings<\/a> +1.25%
\n🩱 L Brands Inc<\/a>. 18.25%
\n🛍 Shopify Inc.<\/a> +3.83%<\/p>\n","protected":false},"excerpt":{"rendered":"

Thursday’s session opened positively, but soon traded in the red as investors took a cautious approach. Losses were moderate, with the Dow -0.41% and the Nasdaq, the best performer on Wall Street during this pandemic, shedding 0.97%. (The Nasdaq is […]<\/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-170072","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\/170072","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=170072"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/170072\/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=170072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=170072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=170072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}