{"id":342261,"date":"2024-10-11T17:57:00","date_gmt":"2024-10-11T21:57:00","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=342261"},"modified":"2024-10-16T10:08:48","modified_gmt":"2024-10-16T14:08:48","slug":"bank-earnings-lift-markets-to-highs","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/bank-earnings-lift-markets-to-highs\/","title":{"rendered":"Bank earnings lift markets to highs"},"content":{"rendered":"\n

In the U.S. Friday, bank earnings began and the positive surprises helped lift markets on Wall and Bay streets to new highs. For instance, Wells Fargo<\/a> jumped 5.96%, pushing the S&P 0.68% higher as the Nasdaq climbed 0.44% and the Dow over 1%. For the week, the three indices advanced around 1.5%. Besides bank earnings, Tesla<\/a> also dominated headlines as the company unveiled its robotaxi, but lacked many details, including a definite timeline. Since 2019, Elon Musk has been promising robotaxis, and unimpressed shareholders dumped Tesla<\/a> shares by 8.64%. However, rival Uber<\/a> benefited and saw its shares soar 11.17%. Elsewhere, Fastenal<\/a> jumped 9.79%, and Domino’s Pizza<\/a> added 5.32%. The U.S. 10-year yield slipped to 4.088% while Bitcoin<\/a> rallied 5.4% to nearly US$63,000.<\/p>\n\n\n\n

Not to be outdone, the TSX rose another 0.75% to close at 24,475, yet another high. For the week, the Canadian index rose 1.3%. The only sector losing ground was healthcare. Tech, discretionary and industrials led the gainers. Key names: CIBC<\/a> up 2.37%, Brookfield Business Partners<\/a> 3.95%, TFI International<\/a> 3.65% and First Quantum Minerals<\/a> +3.39%. However, bucking the bank rally was TD<\/a> which sank another 4.01% after Washington slapped it with a US$3 trillion fine for allowing money laundering in TD’s U.S. operations. Gold added US$26 to US$2,655 and WTI declined 0.33% to US$75.60.<\/p>\n\n\n\n

🏛 Wells Fargo\u00a0(WFC-N)<\/a> +5.96%<\/p>\n\n\n\n

🚗 Tesla Inc\u00a0(TSLA-Q)<\/a> -8.64%<\/p>\n\n\n\n

🚕 Uber\u00a0(UBER-N)<\/a> +11.17%<\/p>\n\n\n\n

🚚 Fastenal Company\u00a0(FAST-Q)<\/a> +9.79%<\/p>\n\n\n\n

🍕 Domino’s Pizza, Inc.\u00a0(DPZ-N)<\/a> +5.32%<\/p>\n\n\n\n

🅱 Bitcoin (BTCUSD)\u00a0(CRYPTO:BTC)<\/a> +5.4%<\/p>\n\n\n\n

🏛 Canadian Imperial Bank of Commerce\u00a0(CM-T)<\/a> +2.37%<\/p>\n\n\n\n

🏛 Brookfield Business Partners LP\u00a0(BBU.UN-T)<\/a> +3.95%<\/p>\n\n\n\n

🚚 TFI International Inc (TFII-T)<\/a> +3.65%<\/p>\n\n\n\n

⛏ First Quantum Minerals\u00a0(FM-T)<\/a> +3.39%<\/p>\n\n\n\n

🏛 Toronto Dominion\u00a0(TD-T)<\/a> -4.01%<\/p>\n","protected":false},"excerpt":{"rendered":"

In the U.S. Friday, bank earnings began and the positive surprises helped lift markets on Wall and Bay streets to new highs. For instance, Wells Fargo jumped 5.96%, pushing the S&P 0.68% higher as the Nasdaq climbed 0.44% and the […]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"closed","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-342261","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\/342261","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=342261"}],"version-history":[{"count":2,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/342261\/revisions"}],"predecessor-version":[{"id":342264,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/342261\/revisions\/342264"}],"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=342261"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=342261"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=342261"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}