{"id":186269,"date":"2020-08-25T22:37:04","date_gmt":"2020-08-25T22:37:04","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=186269"},"modified":"2020-08-26T13:57:45","modified_gmt":"2020-08-26T13:57:45","slug":"nasdaq-and-sp-make-record-closes","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/nasdaq-and-sp-make-record-closes\/","title":{"rendered":"Nasdaq and S&#038;P make record closes"},"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\/137\/Josef-Schachter\">Josef Schachter<\/a>\u00a0including <a href=\"https:\/\/stockchase.com\/TDG-T\">Trinidad Drilling Ltd<\/a> (<strong>A Top Pick Aug 13\/18, Down 3%<\/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>On Wall Street, the Nasdaq and S&amp;P continue to rally and make fresh record highs, driven by a mix of expectations for a new stimulus package, though Washington reports no news; trade officials in Washington and Beijing affirming their commitment to phase one of the <a href=\"https:\/\/uk.investing.com\/news\/coronavirus\/astrazeneca-starts-trial-of-covid19-antibody-treatment-2196459\" target=\"_blank\" rel=\"noopener\">China-US<\/a> trade deal; encouraging news on the COVID front as AstraZeneca begins early phase tests of a <a href=\"https:\/\/uk.investing.com\/news\/coronavirus\/astrazeneca-starts-trial-of-covid19-antibody-treatment-2196459\" target=\"_blank\" rel=\"noopener\">treatment<\/a>; and pure momentum from investors.<\/p>\n<p>The S&amp;P rose 0.35% and Nasdaq climbed 0.76%, but the Dow closed -0.21%. Consumer names like the <a href=\"https:\/\/stockchase.com\/GPS-N\">Gap<\/a> soared 10.45% after <a href=\"https:\/\/finance.yahoo.com\/m\/845d1719-a8f8-36f6-bea2-49a3937a387b\/gap-gps-hits-highs-after.html\" target=\"_blank\" rel=\"noopener\">Citi<\/a> doubled its price target, and <a href=\"https:\/\/stockchase.com\/SBUX-Q\">Starbucks<\/a> rallied 5.13%. In contrast, <a href=\"https:\/\/stockchase.com\/BBY-N\">Best Buy<\/a> slid 4.03%. It <a href=\"https:\/\/www.cnbc.com\/2020\/08\/25\/best-buy-bby-q2-2021.html\" target=\"_blank\" rel=\"noopener\">reported<\/a> that online sales rocketed 242% in Q2, but its cautious outlook pressured the stock down 4.03%. Tech continued its streak. <a href=\"https:\/\/stockchase.com\/AMD-Q\">AMD<\/a>, for instance, rallied 3.94%.<\/p>\n<p>In contrast, Bay Street had a far less dramatic session Tuesday, slipping only six points as financials made gains and most sectors wavered. Canadian bank earnings season began Tuesday as <a href=\"https:\/\/stockchase.com\/BMO-T\">BMO<\/a> reported record <a href=\"https:\/\/finance.yahoo.com\/news\/scotiabank-foreign-loan-losses-surge-121626190.html\" target=\"_blank\" rel=\"noopener\">earnings<\/a> in capital markets and wealth management. The stock leapt 5.7%. On the flipside, the Bank of Nova Scotia announced a record for soured-loan provisions in fiscal Q3. Its <a href=\"https:\/\/finance.yahoo.com\/news\/scotiabank-foreign-loan-losses-surge-121626190.html\" target=\"_blank\" rel=\"noopener\">international<\/a> banking unit reported its first quarterly net loss in 18 years. <a href=\"https:\/\/stockchase.com\/BNS-T\">BNS<\/a> closed -0.67%. WTI rose over 1.7% while the price of WCS popped 3.2%.<\/p>\n<p>&#x1f456; <a href=\"https:\/\/stockchase.com\/GPS-N\">Gap<\/a> +10.45%<br \/>\n&#x2615; <a href=\"https:\/\/stockchase.com\/SBUX-Q\">Starbucks<\/a> +5.13%<br \/>\n&#x1f6cd; <a href=\"https:\/\/stockchase.com\/BBY-N\">Best Buy Company Inc<\/a> -4.03%<br \/>\n&#x1f4be; <a href=\"https:\/\/stockchase.com\/AMD-Q\">Advanced Micro Devices<\/a> +3.94%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/BMO-T\">Bank of Montreal<\/a> +5.70%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/BNS-T\">Bank of Nova Scotia<\/a> -0.67%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Josef Schachter\u00a0including Trinidad Drilling Ltd (A Top Pick Aug 13\/18, Down 3%) Get Premium to receive all past top picks opinions a few hours before market open. On Wall Street, the [&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-186269","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\/186269","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=186269"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/186269\/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=186269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=186269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=186269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}