{"id":200825,"date":"2020-11-24T18:38:06","date_gmt":"2020-11-24T23:38:06","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=200825"},"modified":"2020-11-25T08:32:14","modified_gmt":"2020-11-25T13:32:14","slug":"biden-transition-sparks-historic-rally","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/biden-transition-sparks-historic-rally\/","title":{"rendered":"Biden transition sparks historic rally"},"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 class=\"expert-name\" href=\"https:\/\/stockchase.com\/expert\/view\/1219\/Peter-Imhof\">Peter Imhof<\/a>\u00a0including <a class=\"company-name-symbol\" href=\"https:\/\/stockchase.com\/company\/view\/4701\/WIRUN-T\"><span class=\"company-name\">WPT Industrial REIT<\/span><\/a> (<strong>A Top Pick Jan 23\/19, Up 10%<\/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>The sudden news Tuesday of <a href=\"https:\/\/www.msnbc.com\/msnbc\/watch\/trump-administration-backs-down-officially-acknowledges-biden-transition-96474693731\" target=\"_blank\" rel=\"noopener\">Trump<\/a> finally backing down and allowing U.S. president-elect Joe Biden to transition into the White House spark the second-straight of a broad-based rally. Though American Thanksgiving is around the corner, Wall Street was celebrating Christmas as the S&amp;P and Dow shattered all-time highs, with the Dow closing above 30,000 for the first time. The Dow rose 1.54% and the S&amp;P gained 1.62%. The Nasdaq rallied 1.31%.<\/p>\n<p>Energy was the strongest sector, popping 5%, as financials climbed 3.5%. <a href=\"https:\/\/stockchase.com\/company\/view\/680\/JPM-N\">JPMorgan<\/a> jumped 4.55% and <a href=\"https:\/\/stockchase.com\/company\/view\/337\/CVX-N\">Chevron<\/a> topped 5%. Industrials also climbed, as <a href=\"https:\/\/stockchase.com\/company\/view\/126\/BA-N\">Boeing<\/a> flew 3.42% higher. <a href=\"https:\/\/stockchase.com\/company\/view\/369\/DIS-N\">Disney<\/a> nearly gained 4% for the day. Of course, travel and leisure stocks continued to rip as <a href=\"https:\/\/stockchase.com\/company\/view\/4769\/AAL-Q\">American Airlines<\/a> rocked 9.29%. Besides the good news in Washington, investors also applauded Biden&#8217;s choice of former fed chair, <a href=\"https:\/\/www.bnnbloomberg.ca\/sigh-of-relief-for-markets-on-janet-yellen-news-wall-street-reacts-1.1526786\" target=\"_blank\" rel=\"noopener\">Janet Yellen<\/a>, as his treasury secretary.<\/p>\n<p>Energy soared on both sides of the border, but had a bigger impact on the TSX which climbed 1.05%. A barrel of WTI leapt over 4% and WCS above 6%. Energy popped 4.5% and financials 2%. For instance, <a href=\"https:\/\/stockchase.com\/company\/view\/1571\/CPG-T\">Crescent Point<\/a> jumped 10.13% and <a href=\"https:\/\/stockchase.com\/company\/view\/780\/MFC-T\">Manulife<\/a> rallied 4%. However, cannabis continued to knock it out of the ballpark. The day&#8217;s biggest gainer was <a href=\"https:\/\/stockchase.com\/company\/view\/5389\/ACB-T\">Aurora<\/a>, rocketing over 27% on hopes that Biden will decriminalize weed in the States. Leisure names like <a href=\"https:\/\/stockchase.com\/company\/view\/1726\/CGX-T\">Cineplex<\/a> popped nearly 10% and <a href=\"https:\/\/stockchase.com\/company\/view\/2802\/AC-T\">Air Canada<\/a> cruised 8.67% higher. Excluded from the party was the materials sectors, down 1%. The price of gold continued to slip, down more than 1.5%. <a href=\"https:\/\/stockchase.com\/company\/view\/2462\/SVM-T\">Silvercorp Metals<\/a> slid 12.54% along with the price of silver.<\/p>\n<p>&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/680\/JPM-N\">JP Morgan Chase &amp; Co<\/a> +4.55%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/337\/CVX-N\">Chevron Texaco<\/a> +5%<br \/>\n&#x1f6eb; <a href=\"https:\/\/stockchase.com\/company\/view\/126\/BA-N\">Boeing<\/a> +3.42%<br \/>\n&#x1f478; <a href=\"https:\/\/stockchase.com\/company\/view\/369\/DIS-N\">Walt Disney<\/a> +4%<br \/>\n&#x1f6eb; <a href=\"https:\/\/stockchase.com\/company\/view\/4769\/AAL-Q\">American Airlines Group<\/a> +9.29%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/1571\/CPG-T\">Crescent Point Energy Corp<\/a> +10.13%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/780\/MFC-T\">Manulife Financial<\/a> +4%<br \/>\n&#x1f33f; <a href=\"https:\/\/stockchase.com\/company\/view\/5389\/ACB-T\">Aurora Cannabis<\/a> +27%<br \/>\n&#x1f39e; <a href=\"https:\/\/stockchase.com\/company\/view\/1726\/CGX-T\">Cineplex Inc<\/a> +10%<br \/>\n&#x1f6eb; <a href=\"https:\/\/stockchase.com\/company\/view\/2802\/AC-T\">Air Canada<\/a> +8.67%<br \/>\n&#x1f948; <a href=\"https:\/\/stockchase.com\/company\/view\/2462\/SVM-T\">Silvercorp Metals Inc.<\/a> -12.54%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Peter Imhof\u00a0including WPT Industrial REIT (A Top Pick Jan 23\/19, Up 10%) Get Premium to receive all past top picks opinions a few hours before market open. The sudden news Tuesday [&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-200825","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\/200825","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=200825"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/200825\/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=200825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=200825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=200825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}