{"id":187106,"date":"2020-08-31T21:53:37","date_gmt":"2020-08-31T21:53:37","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=187106"},"modified":"2020-08-31T21:53:37","modified_gmt":"2020-08-31T21:53:37","slug":"headlines-drive-monday-markets-down-except-tech","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/headlines-drive-monday-markets-down-except-tech\/","title":{"rendered":"Headlines drive Monday markets down, except tech"},"content":{"rendered":"

Though the TSX closed -1.09%, it completed August with its fifth-straight monthly gain despite being handicapped by historically weak oil prices. Headlines dominated the Toronto exchange to start the week. Ottawa has agreed to buy over 100 million COVID vaccines<\/a> from Novavax and Johnson & Johnson, which are in the middle of testing their vaccines. Novavax<\/a> surged 2.41% though JNJ<\/a> closed -0.15%.<\/p>\n

In the beaten-up energy space, M&A continued with Whitecap Resources buying NAL Resources<\/a> in an all-stock $155 million deal. Shareholders rewarded WCP<\/a> with a 1.58% stock boost in heavy trading. ON the flipside, Premium Brands Holdings announced it would buy<\/a> Global Gourmet Foods and Allseas Fisheries, but PBH<\/a> closed -1.4%. Materials were the only TSX sector which showed green, while energy suffered a 3% drop. A barrel of WCS fell 1.25% and WTI by 0.5%. The weak US greenback allowed the Canadian dollar to continue to rally, up 0.38% to $76.63.<\/p>\n

On Wall Street, the Nasdaq made another closing high, climbing 0.68% and finishing strong. Stock splits by Apple and Tesla helped propel the index. Apple<\/a> jumped 3.39% to $129.04 while Tesla<\/a> soared 12.57% to $498.32. By the way, Tesla’s PE is currently 1,290x. Despite closing Monday -0.22%, the S&P enjoyed its best August since 1986 while the Dow ended the session -0.78%. Of the Dow components, only the Dow escaped a sell-off. A headline that will have ramifications to come is the Chinese government blocking the sale of Tiktok<\/a> U.S. operations, which pressured suitors on Monday like Microsoft<\/a>, closing -1.48%.<\/p>\n

💉 Novavax Inc<\/a> +2.41%
\n🧴 Johnson & Johnson<\/a> -0.15%
\n🛢 Whitecap Resources<\/a> +1.58%
\n🥫 Premium Brands Holdings Corp<\/a> -1.40%
\n🍎 Apple<\/a> +3.39%
\n🚗 Tesla Motors Inc<\/a> +12.57%
\nⓂ Microsoft<\/a> -1.48%<\/p>\n","protected":false},"excerpt":{"rendered":"

Though the TSX closed -1.09%, it completed August with its fifth-straight monthly gain despite being handicapped by historically weak oil prices. Headlines dominated the Toronto exchange to start the week. Ottawa has agreed to buy over 100 million COVID vaccines […]<\/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-187106","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\/187106","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=187106"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/187106\/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=187106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=187106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=187106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}