{"id":185147,"date":"2020-08-18T21:42:53","date_gmt":"2020-08-18T21:42:53","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=185147"},"modified":"2020-08-19T14:03:39","modified_gmt":"2020-08-19T14:03:39","slug":"us-stocks-hit-record-highs-morneau-out","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/us-stocks-hit-record-highs-morneau-out\/","title":{"rendered":"US stocks hit record highs, Morneau out"},"content":{"rendered":"<hr \/>\n<table cellpadding=\"10\" align=\"center\">\n<tbody style=\"padding: 10px; font-family: Helvetica, Arial;\">\n<tr align=\"center\">\n<td align=\"center\"><center>This week, you missed Past Top Picks comments by <a href=\"https:\/\/stockchase.com\/expert\/view\/1415\/Jamie-Murray\">Jamie Murray<\/a>\u00a0including <a href=\"https:\/\/stockchase.com\/company\/view\/1397\/STZ-N\">Constellation Brands Inc<\/a> (<strong>A Top Pick Oct 02\/18, Down 5%<\/strong>) <strong><a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-text\">Get Premium<\/a> to receive all past top picks opinions a few hours before market open.<\/strong><br \/>\n<a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-image\"><img decoding=\"async\" class=\"alignnone size-full wp-image-123205\" src=\"https:\/\/stockchase.com\/discover\/wp-content\/uploads\/2019\/11\/premium-button.png\" alt=\"Get Premium\" width=\"289\" height=\"48\" \/><\/a><\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<p>Tuesday saw a stunning performance on Wall Street as the S&amp;P and Nasdaq both smashed previous highs. The S&amp;P climbed 0.19% to 3,388, soaring 55% since the March bottom, while the Nasdaq made yet another new high up 0.73% at 11,210.<\/p>\n<p>Unsurprisingly, tech gained while financials and energy lagged. For example, <a href=\"https:\/\/stockchase.com\/company\/view\/67\/AMZN-Q\">Amazon<\/a> rallied 4% while <a href=\"https:\/\/stockchase.com\/company\/view\/337\/CVX-N\">Chevron<\/a> closed -3.55%. It continues to be a tale of two markets with tech shooting up and leaving behind sectors like financials which are still 20% below their highs. All this happened Tuesday despite no stimulus package from Washington. The Dow closed -0.24% and the small-cap Russell index finished -0.99%.<\/p>\n<p>Canada had its share of drama as Prime Minister Trudeau stunned Bay Street by replacing Bill Morneau with <a href=\"https:\/\/www.cbc.ca\/news\/politics\/trudeau-cabinet-finance-minister-1.5690404\" target=\"_blank\" rel=\"noopener\">Chrystia Freeland<\/a> as his finance minister. Freeland negotiated the post-NAFTA trade deal and was a business journalist before entering politics. Bay Street shrugged off the news. The Canadian dollar actually rose 0.34% against the American greenback. The TSX closed -0.34% as the price of WTI slipped 0.75% and WCS tumbled over 6%. Energy names like <a href=\"https:\/\/stockchase.com\/company\/view\/3644\/CVE-T\">Cenovus<\/a> sold off 3.63%. The price of gold inched up slightly, though miners like <a href=\"https:\/\/stockchase.com\/company\/view\/2623\/LUN-T\">Lundin<\/a> rallied 4.34%. Telcos and tech stocks were the day&#8217;s biggest gainers.<\/p>\n<p>&#x1f4e6; <a href=\"https:\/\/stockchase.com\/company\/view\/67\/AMZN-Q\">Amazon.com<\/a> +4%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/337\/CVX-N\">Chevron Texaco<\/a> -3.55%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/3644\/CVE-T\">Cenovus Energy<\/a> -3.63%<br \/>\n&#x26cf; <a href=\"https:\/\/stockchase.com\/company\/view\/2623\/LUN-T\">Lundin Mining Corp.<\/a> +4.34%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Jamie Murray\u00a0including Constellation Brands Inc (A Top Pick Oct 02\/18, Down 5%) Get Premium to receive all past top picks opinions a few hours before market open. Tuesday saw a stunning [&hellip;]<\/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-185147","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\/185147","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=185147"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/185147\/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=185147"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=185147"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=185147"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}