{"id":184210,"date":"2020-08-12T23:00:05","date_gmt":"2020-08-12T23:00:05","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=184210"},"modified":"2020-08-13T21:19:35","modified_gmt":"2020-08-13T21:19:35","slug":"tech-roars-back","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/tech-roars-back\/","title":{"rendered":"Tech roars back"},"content":{"rendered":"

The recent rotation into cyclicals paused, at least on Wednesday, as tech stocks bounced back. The Nasdaq rallied 2.13% as big names like Apple<\/a> rose 3.32% and Qualcomm<\/a> broke new highs, surging 6.4%, after overturning a Federal Trade Commission anti-trust ruling<\/a> against the company. The Nasdaq returned to the 11,000 level, jumping 2.13%, but the S&P<\/a> nearly broke its Feb.19 record high by climbing 1.4%.<\/p>\n

The Dow’s performance wasn’t too shabby either, climbing 1.05%, led by healthcare, tech of course, but also consumer discretionary, indicating the breadth of Wednesday’s rally. For instance, Home Depot<\/a> leapt 2.42%. Meanwhile, investors wait for Washington to pass its latest aid package to the American people.<\/p>\n

In Toronto, the TSX gained 0.47%, driven by the rise in oil prices, with WSC soaring nearly 6% and the price of WTI increasing more than 2%. Triggering the energy rally was news that U.S. oil stockpiles<\/a> plummeted 4.51 million barrels last week instead of the expected 2.2 million. That demand is driven (sorry) by rising demand not seen since March. Whitecap Resources<\/a> rose 6%, for example, on the news. However, the day’s biggest gainer was ATS Automation Tooling Systems<\/a>, which rocketed 13.41%, after reporting<\/a> its Q1-2021. Lastly, gold wobbled during the session, closing more than -1% at the closing bell.<\/p>\n

🍎 Apple<\/a> +3.32%
\n💾 Qualcomm<\/a> +6.4%
\n⛏ Home Depot<\/a> +2.42%
\n🛢 Whitecap Resources<\/a> +6%
\n🏗 ATS Automation<\/a> +13.41%<\/p>\n","protected":false},"excerpt":{"rendered":"

The recent rotation into cyclicals paused, at least on Wednesday, as tech stocks bounced back. The Nasdaq rallied 2.13% as big names like Apple rose 3.32% and Qualcomm broke new highs, surging 6.4%, after overturning a Federal Trade Commission anti-trust […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"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-184210","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\/184210","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=184210"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/184210\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=184210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=184210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=184210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}