{"id":212744,"date":"2021-02-17T17:50:08","date_gmt":"2021-02-17T22:50:08","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=212744"},"modified":"2021-02-17T17:50:08","modified_gmt":"2021-02-17T22:50:08","slug":"tech-weighs-on-markets","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/tech-weighs-on-markets\/","title":{"rendered":"Tech weighs on markets"},"content":{"rendered":"

Tech heavyweights pressured markets on both sides of the border Wednesday, triggering a partial sell-off though based on low volumes. The S&P finished flat, the Dow gained 0.29% while the Nasdaq fell 0.58%. Shopify announced a blow-out quarter but issued weak guidance as it looked ahead to a post-Covid world. SHOP-T<\/a> fell 2.79% and helped push the TSX down 0.6%.<\/p>\n

Materials and staples also lagged the Toronto index as Franco-Nevada<\/a> declined 3.93% and Barrick<\/a> slipped 4%. Likewise, cannabis stocks retreated, including Organigram<\/a> by nearly 11% and Aurora<\/a> by 7.12%. In contrast, A&W<\/a> surged over 5% after announcing a dividend increase, despite declining same-store sales growth in Q4. The cold snap continued to fuel the price of WCS and WTI which climbed another 2%.<\/p>\n

Chevron<\/a> rallied 3%, but on On Wall Street Apple<\/a> declined 1.76% and AMD<\/a> lost 1.66%, both in heavy trading, though Verizon<\/a> jumped 5.24%. Warren Buffett disclosed positions in Chevron and Verizon which helped lift those names. However, Cannabis names fell in line with those on the TSX while the volatile Bionano Genomics plunged 6.62%. The American indices finished off the day’s lows as investors worried about inflation and the new virulent strains of Covid, but balanced that with good news that Covid<\/a> cases and deaths around the world are declining by half.<\/p>\n

🛍 Shopify Inc.<\/a> -2.79%
\n⛏ Franco-Nevada Corp.<\/a> -3.93%
\n🥇 Barrick Gold<\/a> -4%
\n🌿 OrganiGram Holdings Inc.<\/a> -11%
\n🌿 Aurora Cannabis<\/a> -7.12%
\n🏛 A&W Revenue Royalties Income Fund<\/a> +5%
\n🛢 Chevron Texaco<\/a> +3%
\n🍎 Apple<\/a> -1.76%
\n💿 Advanced Micro Devices<\/a> -1.66%
\n📱 Verizon Communications<\/a> +5.24%
\n🧬 Bionano Genomics -6.62%<\/p>\n","protected":false},"excerpt":{"rendered":"

Tech heavyweights pressured markets on both sides of the border Wednesday, triggering a partial sell-off though based on low volumes. The S&P finished flat, the Dow gained 0.29% while the Nasdaq fell 0.58%. Shopify announced a blow-out quarter but issued […]<\/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-212744","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\/212744","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=212744"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/212744\/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=212744"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=212744"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=212744"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}