{"id":187877,"date":"2020-09-04T22:01:20","date_gmt":"2020-09-04T22:01:20","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=187877"},"modified":"2020-09-05T12:27:42","modified_gmt":"2020-09-05T12:27:42","slug":"friday-extends-tech-sell-off","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/friday-extends-tech-sell-off\/","title":{"rendered":"Friday extends tech sell-off"},"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\/1282\/Barry-Schwartz\">Barry Schwartz<\/a>\u00a0including <a href=\"https:\/\/stockchase.com\/company\/view\/4020\/BIPUN-T\">Brookfield Infrastructure Partners<\/a> (<strong>A Top Pick Oct 31\/18, Up 35%<\/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>Though it was nowhere as deep as Thursday&#8217;s market sell-off, Friday&#8217;s session continued the purge of big tech stocks. Names like <a href=\"https:\/\/stockchase.com\/company\/view\/894\/NVDA-Q\">Nvidia<\/a> closed -3.02%, but the market rallied towards the end of the session to allow heavy hitters like <a href=\"https:\/\/stockchase.com\/company\/view\/4017\/TSLA-Q\">Tesla<\/a> to close in the green, 2.78%. Apple spent most of Friday in the red, but barely closed positive in the heaviest trading, demonstrating continued interest in this tech giant. The VIX, that barometer of volatility, fell nearly 10% after spiking about that much the day before. Nonetheless, the Nasdaq finished -1.1%, the Dow -0.48% and the S&amp;P -0.78%.<\/p>\n<p>There was a rotation from tech into industrials and financials with <a href=\"https:\/\/stockchase.com\/company\/view\/680\/JPM-N\">JP Morgan<\/a> rising over 2%. Energy and consumer stocks showed weakness. All in all, the Nasdaq suffered its worst week since the depth of the pandemic, the week of March 20.<\/p>\n<p>The TSX shed 1.4%, though finished off the day&#8217;s lows. Instead of tech, oil pressured the Toronto exchange with energy falling 1.65%, closely followed by materials and industrials. The price of WTI plunged 4.5% and WCS by 4%. The day&#8217;s winner was <a href=\"https:\/\/stockchase.com\/company\/view\/716\/LB-T\">Laurentian Bank<\/a> rallying 6% after topping Q3 <a href=\"https:\/\/finance.yahoo.com\/news\/laurentian-bank-financial-group-reports-113000163.html\" target=\"_blank\" rel=\"noopener\">estimates<\/a>. <a href=\"https:\/\/stockchase.com\/company\/view\/2802\/AC-T\">Air Canada<\/a> continues to gain altitude, climbing 3.79%, and <a href=\"https:\/\/stockchase.com\/company\/view\/2011\/HBM-T\">Hudbay Minerals<\/a> climbed 3.33%. Gold was flat, but the Canadian dollar continued to capitalize on the American greenback&#8217;s weakness, rising 0.51% to $76.57. Investors will have the long weekend to catch their breath, and they&#8217;ll see if tech bounces back on Tuesday or if the tech slide will continue.<\/p>\n<p>&#x1f4bf; <a href=\"https:\/\/stockchase.com\/company\/view\/894\/NVDA-Q\">Nvidia Corp<\/a> -3.02<br \/>\n&#x1f697; <a href=\"https:\/\/stockchase.com\/company\/view\/4017\/TSLA-Q\">Tesla Motors Inc<\/a> +2.78%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/680\/JPM-N\">JP Morgan Chase &amp; Co<\/a> +2%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/716\/LB-T\">Laurentian Bank<\/a> +6%<br \/>\n&#x1f6eb; <a href=\"https:\/\/stockchase.com\/company\/view\/2802\/AC-T\">Air Canada<\/a> +3.795<br \/>\n&#x1f451; <a href=\"https:\/\/stockchase.com\/company\/view\/2011\/HBM-T\">Hudbay Minerals Inc.<\/a> +3.33%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Barry Schwartz\u00a0including Brookfield Infrastructure Partners (A Top Pick Oct 31\/18, Up 35%) Get Premium to receive all past top picks opinions a few hours before market open. Though it was nowhere [&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-187877","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\/187877","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=187877"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/187877\/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=187877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=187877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=187877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}