{"id":186483,"date":"2020-08-26T22:29:41","date_gmt":"2020-08-26T22:29:41","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=186483"},"modified":"2020-08-27T12:19:20","modified_gmt":"2020-08-27T12:19:20","slug":"tsx-rises-on-bank-earnings-wall-st-on-momentum","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/tsx-rises-on-bank-earnings-wall-st-on-momentum\/","title":{"rendered":"TSX rises on bank earnings, Wall St. on momentum"},"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\/company\/view\/3193\/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>Bank earnings week continued Wednesday as <a href=\"https:\/\/stockchase.com\/company\/view\/1083\/RY-T\">Royal Bank<\/a> and <a href=\"https:\/\/stockchase.com\/company\/view\/850\/NA-T\">National Bank<\/a> both beat Q3 profit expectations. <a href=\"https:\/\/globalnews.ca\/news\/7298641\/rbc-q3-2020-earnings-report\/\" target=\"_blank\" rel=\"noopener\">Royal<\/a> was powered by its capital markets business. Canada&#8217;s biggest bank leapt over $100\/share for the first time since the pandemic hit to close 1.48% higher while <a href=\"https:\/\/ca.reuters.com\/article\/businessNews\/idCAKBN25M1AA\" target=\"_blank\" rel=\"noopener\">National Bank<\/a> leapt 4.34%.<\/p>\n<p>Their performances lifted the TSX by 1.04%. The energy sector fell 2.26%., but tech, materials and financials offset that weakness. The price of WTI was flat, though WCS slipped over 2%.<\/p>\n<p>Optimism extended south of the border as the S&amp;P made its fourth-straight record close, up 1.02% and the Nasdaq set its 39th record close so far this year, jumping 1.73% as big tech continued to climb to new heights. <a href=\"https:\/\/stockchase.com\/company\/view\/4277\/FB-Q\">Facebook<\/a> shattered the $300 mark, soaring 8.22%, while <a href=\"https:\/\/stockchase.com\/company\/view\/2191\/NFLX-Q\">Netflix<\/a> and <a href=\"https:\/\/stockchase.com\/company\/view\/5617\/ROKU-Q\">Roku<\/a> both popped over 11% on analyst <a href=\"https:\/\/finance.yahoo.com\/news\/roku-netflix-surge-upbeat-analyst-195021279.html\" target=\"_blank\" rel=\"noopener\">reports<\/a>. But that paled next to <a href=\"https:\/\/stockchase.com\/company\/view\/2351\/CRM-N\">Salesforce<\/a> which <a href=\"https:\/\/finance.yahoo.com\/m\/6969a709-17fa-3c25-92ef-b1b83d043d8f\/salesforce-earnings-top.html\" target=\"_blank\" rel=\"noopener\">rocketed<\/a> 26% after it blew past estimates and inspired a rash of analyst upgrades. The Dow climbed 0.3% as financials, healthcare and energy lagged, though industrials, consumer and of course tech stocks compensated. The momentum trade in tech also swept up names like <a href=\"https:\/\/stockchase.com\/company\/view\/21\/ADBE-Q\">Adobe<\/a> by 9.1%.<\/p>\n<p>&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/1083\/RY-T\">Royal Bank<\/a> +1.48%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/850\/NA-T\">National Bank of Canada<\/a> +4.34%<br \/>\n&#x1f575;&#xfe0f;&#x200d;&#x2642;&#xfe0f; <a href=\"https:\/\/stockchase.com\/company\/view\/4277\/FB-Q\">Facebook<\/a> +8.22%<br \/>\n&#x1f4fa; <a href=\"https:\/\/stockchase.com\/company\/view\/2191\/NFLX-Q\">Netflix Inc.<\/a> +11%<br \/>\n&#x1f4df; <a href=\"https:\/\/stockchase.com\/company\/view\/5617\/ROKU-Q\">Roku Inc<\/a> +11%<br \/>\n&#x1f4a8; <a href=\"https:\/\/stockchase.com\/company\/view\/2351\/CRM-N\">SalesForce.com Inc.<\/a> +26%<br \/>\n&#x1f4be; <a href=\"https:\/\/stockchase.com\/company\/view\/21\/ADBE-Q\">Adobe Systems<\/a> +9.1%<\/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. Bank earnings week continued [&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-186483","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\/186483","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=186483"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/186483\/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=186483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=186483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=186483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}