Stockchase At the Close U.S. earnings continued to fuel this week’s rally even as oil fell on Thursday. Closing on strength, the S&P rose nearly 1%, the Dow half that and the Nasdaq 1.36%. Energy lagged while tech thrived.
Tesla released earnings the day before and popped almost 10%. Also rallying were Thermo Fisher up 6.75%, Danaher by 9% and CSX 4.24%. In contrast, AT&T tumbled 7.62%, Carnival sank 11.18% (after issuing more common shares) and American Airlines slid 7.43% after releasing a disappointing quarter. The U.S. 10-year yield bubbled right below 3% while Bitcoin gave back 2% to $23,000.
Crude oil had a weak session as WTI and WCS tmbled $3.50 per barrel to $96 and $76 respectively. The TSX had a see-saw day but eventually climbed 40 points past 19,000. Telcos showed mild weakness, but the other sectors (ex-energy) were all in the green. Cannabis gave back recent gains as Canopy slid 9.16% and Aurora shed over 7%. Also sliding were Baytex down nearly 6% and Cenovus losing 2.45%. Air Canada sinking 3.79%. However, Shopify rallied 4.77% while Spin Master jumped 3.87%.