{"id":199035,"date":"2020-11-12T17:50:32","date_gmt":"2020-11-12T22:50:32","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=199035"},"modified":"2020-11-12T17:50:32","modified_gmt":"2020-11-12T22:50:32","slug":"virus-worries-pressure-stocks","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/virus-worries-pressure-stocks\/","title":{"rendered":"Virus worries pressure stocks"},"content":{"rendered":"

The short-lived rotation into cyclical stocks has halted for now as the rising number of Covid<\/a> cases, particularly in the United States which leads the world, pressured markets Wednesday. The S&P and Dow shed 1% while the Nasdaq sustained a morning rally but closed -0.65%. On Wall Street, industrials and financials took a hit as Boeing<\/a> sank 3% and Goldman Sachs<\/a> declined 1.6%. Travel names, which soared just recently, slid hard. Carnival<\/a> sank nearly 8%.<\/p>\n

There was weakness right across the Dow, but there was a glimmer of good news in the latest U.S. jobless<\/a> claims which fell to a seven-month low last week. Also, Moderna<\/a> leapt 6.5% after announcing that it was on the cusp of announcing early results to the phase-three tests of its Covid vaccine. After hours, Cisco<\/a> released an earnings surprise which drove its stock more than 8%, though it had lost 1.68% during the day’s session.<\/p>\n

Bay Street fared no better than its southern neighbours, as the TSX closed -1.14%, dragged down by the price of oil. A barrel of WCS slid nearly 3% on news that oil inventories<\/a> surprisingly rose last week and the fear of declining demand due to Covid. Vermilion Energy<\/a> lost 8.41%, and Torc Oil and Gas<\/a> slipped 7.51%. Busmaker NFI Group<\/a> was pounded for nearly 13% after releasing its Q3 report on Tuesday. In contrast, Intertape Polymer<\/a> soared over 20% after offering its own Q3. On the TSX, only materials and staples eluded negativity. Franco Nevada<\/a>, for example, rallied 2.4%. Gold and the Canadian dollar were both flat.<\/p>\n

🛫 Boeing<\/a> -3%
\n🏛 Goldman Sachs<\/a> -1.6%
\n🚢 Carnival Corp.<\/a> -8%
\n💉 Moderna<\/a> +6.5%
\n📱 Cisco<\/a> -1.68%
\n🛢 Vermilion Energy Inc<\/a> -8.41%
\n🛢 Torc Oil & Gas Ltd<\/a> -7.51%
\n🚗 NFI Group Inc<\/a> -13%
\n📦 Intertape Polymer Group<\/a> +20%
\n🥇 Franco-Nevada Corp.<\/a> +2.4%<\/p>\n","protected":false},"excerpt":{"rendered":"

The short-lived rotation into cyclical stocks has halted for now as the rising number of Covid cases, particularly in the United States which leads the world, pressured markets Wednesday. The S&P and Dow shed 1% while the Nasdaq sustained a […]<\/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-199035","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\/199035","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=199035"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/199035\/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=199035"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=199035"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=199035"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}