{"id":186870,"date":"2020-08-28T22:03:30","date_gmt":"2020-08-28T22:03:30","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=186870"},"modified":"2020-08-29T13:19:40","modified_gmt":"2020-08-29T13:19:40","slug":"u-s-rallies-to-close-week-canadian-gdp-up","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/u-s-rallies-to-close-week-canadian-gdp-up\/","title":{"rendered":"U.S. rallies to close week, Canadian GDP up"},"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\/1253\/Rick-Stuchberry\">Rick Stuchberry<\/a> including <a href=\"https:\/\/stockchase.com\/company\/view\/1211\/TD-T\">Toronto Dominion<\/a> (<strong>A Top Pick Sep 05\/18, Down 6%<\/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>Whether it&#8217;s FOMO, the U.S. Fed&#8217;s promise to keep interest rates rock-bottom low or pure greed in tech stocks, American markets continued to rally to end a record-breaking week. The Nasdaq closed up 0.6% or 48.86% year-to-date to make another record close while the S&amp;P finished 0.67% or up 8.58% YTD and set a new high. The Dow is the laggard, though it closed 0.57% Friday. Investors continue to pour money into tech.<\/p>\n<p>The <a href=\"https:\/\/stockchase.com\/company\/view\/4346\/XRT-N\">XRT ETF<\/a>, which collects American retail names, up us only 14.18% for the year so far compared to 34.5% for the <a href=\"https:\/\/stockchase.com\/company\/view\/2521\/XLK-N\">XLK<\/a>, which collects U.S. tech stocks. To compare, the price of gold has run up 27.79% YTD. Actually, <a href=\"https:\/\/stockchase.com\/company\/view\/1833\/GOOG-Q\">Alphabet<\/a> was one of the few mega tech names that rallied Friday, moving in line with the Nasdaq at 0.6%, while Ulta Beauty lifted the index after a Q2 <a href=\"https:\/\/finance.yahoo.com\/video\/todays-stocks-move-ulta-beauty-165602548.html\" target=\"_blank\" rel=\"noopener\">earnings<\/a> beat, bouncing 5.84%.<\/p>\n<p>The TSX inched down, closing -0.15%, though energy and especially materials rallied. <a href=\"https:\/\/stockchase.com\/company\/view\/3134\/FVI-T\">Fortuna Silver Mines<\/a> was one of the biggest gainers among precious metals, jumping 8.28%. Canadian bank earnings continued to impress the market with <a href=\"https:\/\/stockchase.com\/company\/view\/338\/CWB-T\">Canadian Western Bank<\/a> <a href=\"https:\/\/www.newswire.ca\/news-releases\/cwb-reports-third-quarter-2020-financial-and-strategic-performance-847554891.html\" target=\"_blank\" rel=\"noopener\">reporting<\/a> a healthy Q3; the stock popped 7.59%. The TSX actually peaked in the morning on positive news that June <a href=\"https:\/\/www.reuters.com\/article\/canada-stocks\/canada-stocks-tsx-gains-on-upbeat-economic-growth-data-idUSL4N2FU3XK\" target=\"_blank\" rel=\"noopener\">GDP<\/a> surged 6.5%, then the Toronto index slipped a little to the closing bell. The price of WTI was basically flat, but the Canadian dollar continues to show strength, up. 0.26% to to touch $76.37 while the US greenback continues to show weakness, down 0.25.<\/p>\n<p>&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/4346\/XRT-N\">SPDR Retail ETF<\/a> +14.18%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/2521\/XLK-N\">SPDR Technology ETF<\/a> +34.5%<br \/>\n&#x1f9ee; <a href=\"https:\/\/stockchase.com\/company\/view\/1833\/GOOG-Q\">Alphabet Inc. \/ Google<\/a> +0.6%<br \/>\n&#x1f948; <a href=\"https:\/\/stockchase.com\/company\/view\/3134\/FVI-T\">Fortuna Silver Mines<\/a> +8.28%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/338\/CWB-T\">Canadian Western Bank<\/a> +7.59%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Rick Stuchberry including Toronto Dominion (A Top Pick Sep 05\/18, Down 6%) Get Premium to receive all past top picks opinions a few hours before market open. Whether it&#8217;s FOMO, 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-186870","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\/186870","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=186870"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/186870\/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=186870"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=186870"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=186870"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}