{"id":210971,"date":"2021-02-05T18:01:04","date_gmt":"2021-02-05T23:01:04","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=210971"},"modified":"2021-02-06T08:00:37","modified_gmt":"2021-02-06T13:00:37","slug":"markets-rally-despite-weak-employment-figures","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/markets-rally-despite-weak-employment-figures\/","title":{"rendered":"Markets rally despite weak employment figures"},"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\/17\/Ross-Healy\">Ross Healy<\/a>, including <a class=\"company-name-symbol\" href=\"https:\/\/stockchase.com\/ABX-T\"><span class=\"company-name\">Barrick Gold<\/span><\/a> (<strong>A Top Pick Feb 11\/19, Up 37%<\/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>Unemployment figures disappointed Friday, but markets on both sides of the border finished their best week early November. A tide of good earnings and overall promising sentiment on the vaccine front continued to lift stocks. The TSX rose 0.47% to make a new closing high of 18,125. Materials and energy fuelled the Toronto rally as the price of WTI made new one-year highs just short of $57 and WCS jumped 4% to $46.50.<\/p>\n<p>Notable gainers included <a href=\"https:\/\/stockchase.com\/PIF-T\">Polaris Infrastructure<\/a> up 8.19%, <a href=\"https:\/\/stockchase.com\/PEY-T\">Peyto Exploration<\/a> at 7.19% and <a href=\"https:\/\/stockchase.com\/ELD-T\">Eldorado Gold<\/a>, which popped 12% after announcing it will open a <a href=\"https:\/\/finance.yahoo.com\/news\/eldorado-gold-signs-amended-investment-133400205.html\" target=\"_blank\" rel=\"noopener\">Greek<\/a> mine. <a href=\"https:\/\/stockchase.com\/BB-T\">Blackberry<\/a>, which has enjoyed a wild ride by the Reddit short sellers, leapt 8.33%. Not faring as well were <a href=\"https:\/\/stockchase.com\/ZZZ-T\">Sleep Country Canada<\/a>, down 7.68%, and cannabis-maker <a href=\"https:\/\/stockchase.com\/LABS-T\">Medipharm Labs<\/a>, slipping 6.1%. For now at least, investors overlooked the rise in <a href=\"https:\/\/www.bnnbloomberg.ca\/canada-s-labor-market-likely-handled-lockdowns-better-in-january-1.1558911\" target=\"_blank\" rel=\"noopener\">unemployment<\/a> to 9.4%, as the street badly underestimated January&#8217;s unemployment numbers.<\/p>\n<p>In the States, employment gains missed the street&#8217;s predictions, though <a href=\"https:\/\/www.cnbc.com\/2021\/02\/05\/jobs-report-january-2021.html\" target=\"_blank\" rel=\"noopener\">unemployment<\/a> did fall to 6.3% and expectations for more stimulus from Washington calmed investors. Though volumes were lower than usual, the major indices rose between 0.3% and 0.57%. Again, tech stocks led the rally as the Nasdaq gained 6% for the week. <a href=\"https:\/\/stockchase.com\/ATVI-Q\">Activision Blizzard<\/a> delivered a blow-out <a href=\"https:\/\/finance.yahoo.com\/news\/activision-soars-upbeat-outlook-video-134436699.html\" target=\"_blank\" rel=\"noopener\">quarter<\/a> and forecast, and the stock soared 9.64%. <a href=\"https:\/\/stockchase.com\/XOM-N\">Exxon Mobil<\/a> rose 3.35% on the momentum of the oil price, while <a href=\"https:\/\/stockchase.com\/NKE-N\">Nike<\/a> rallied 3.19%. In contrast, <a href=\"https:\/\/stockchase.com\/TMUS-Q\">T-Mobile<\/a> dropped 4% on a mixed Q4 report.<\/p>\n<p>&#x267b; <a href=\"https:\/\/stockchase.com\/PIF-T\">Polaris Infrastructure<\/a> +8.19<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/PEY-T\">Peyto Exploration &amp; Develop.<\/a> +7.19%<br \/>\n&#x1f947; <a href=\"https:\/\/stockchase.com\/ELD-T\">Eldorado Gold<\/a> +12%<br \/>\n&#x1f4f1; <a href=\"https:\/\/stockchase.com\/BB-T\">BlackBerry<\/a> +8.33%<br \/>\n&#x1f634; <a href=\"https:\/\/stockchase.com\/ZZZ-T\">Sleep Country Canada Holdings<\/a> -7.68%<br \/>\n&#x1f33f; <a href=\"https:\/\/stockchase.com\/LABS-T\">Medipharm Labs Corp<\/a> -6.10%<br \/>\n&#x1f3ae; <a href=\"https:\/\/stockchase.com\/ATVI-Q\">Activision Blizzard<\/a> +9.64%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/XOM-N\">Exxon Mobil<\/a> +3.35%<br \/>\n&#x1f45f; <a href=\"https:\/\/stockchase.com\/NKE-N\">Nike Inc<\/a> +3.19%<br \/>\n&#x1f4f1; <a href=\"https:\/\/stockchase.com\/TMUS-Q\">T-Mobile US<\/a> -4%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Ross Healy, including Barrick Gold (A Top Pick Feb 11\/19, Up 37%) Get Premium to receive all past top picks opinions a few hours before market open. Unemployment figures disappointed Friday, [&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-210971","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\/210971","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=210971"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/210971\/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=210971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=210971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=210971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}