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Stockhouse @ the Bell: TSX Rises on Energy Sector Boost; Weekly Gains Solidified

Stockhouse Editorial
1 Comment| February 4, 2022

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Canada’s main stock index rose on Friday and was keeping on track for its best weekly performance since late December 2021, with energy shares leading the gains as crude prices rose to multi-year highs.

The energy sector climbed over 2% as oil prices hit seven-year highs on supply concerns, fueled by geopolitical tensions and a winter storm in the U.S.

Today in the Markets

TSX 21,271.85 +177.84 Click to enlarge
TSXV 854.47 +15.28 Click to enlarge
CSE 475.20 +21.01 Click to enlarge
DJIA 35,089.74 -21.42 Click to enlarge
NASDAQ 14,098.01 +219.19 Click to enlarge
S&P 500 4,500.53 +23.09 Click to enlarge

The Canadian dollar traded for 79.86 cents U.S. today, compared with U.S. on 79.58 cents Friday.

Crude oil prices were up 0.49 to $83.79.

The price of gold was up 2.30 to $1,818.80.

In world markets, the Nikkei was up 209.24 points to 28,333.52, the Hang Seng was down 165.29 points to 24,218.03, the FTSE was up 68.28 points to 7,611.23, and the DAX was up 50.48 points to 15,933.72.

Top 10 Bullboards

Company Ticker Views
Theralase Technologies Inc. V.TLT 12297
Quarterhill Inc T.QTRH 11882
Xebec Adsorption Inc T.XBC 5757
Baytex Energy Corp T.BTE 5642
CGX Energy Inc V.OYL 5590
Athabasca Oil Corp T.ATH 5079
PyroGenesis Canada Inc. T.PYR 4908
Crescent Point Energy Corporation (Canada) T.CPG 2965

Today in the News

Neovasc Inc. | Independent Publication Reports Neovasc Reducer(TM) Demonstrates Cost Savings
Nass Valley Gateway Ltd | Nass Valley Gardens Inc. Announces It Will File to Launch a Reg A+ Public Offering
New Age Metals Inc. | Eric Sprott Announces Holdings in New Age Metals Inc.
Tenet Fintech Group Inc. | Tenet Provides Operational Update at Chinese New Year Break
Jackpot Digital Inc. | Jackpot Digital Receives Class II License to Install Five Jackpot Blitz(TM) ETGs in Oregon's Three Rivers Casino
PyroGenesis Canada Inc. | PyroGenesis to Present at MicroCap Rodeo's Winter Wonderland Best Ideas Conference on Wednesday, February 9
Algernon Pharmaceuticals Inc. | Algernon Pharmaceuticals Announces Completion of Enrollment in its Phase 2 Study of Ifenprodil for IPF and Chronic Cough
Komo Plant Based Foods Inc | Komo Plant Based Foods Launching in 33 Loblaws Your Independent Grocer Stores
G2 Technologies Corp | G2 Technologies Corp. Announces the Second and Final Tranche Closing of Non-Brokered Private Placement
Saturn Oil & Gas | Saturn Oil & Gas Inc. Announces Adoption of RSU/DSU Plan
Alianza Minerals Ltd | Alianza Minerals and Cloudbreak Discovery Complete Option of the Klondike Property, Colorado, to Allied Copper
Big Ridge Gold Corp. | Big Ridge Gold Enhances Exploration Team at Hope Brook Gold Project
Pan Global Resources Inc | Pan Global Drilling Continues to Expand Near Surface Copper-Tin Mineralization at La Romana and Drilling Commences at Nearby La Jarosa, Escacena Project, Southern Spain

Word on Wall Street

One day after Facebook owner Meta Platforms suffered the biggest loss of stock market value in history for a U.S. company, Amazon was on track to log the greatest ever one-day increase in value.

Shares of the online retail and cloud computing giant swelled almost 15% on Friday following its blowout quarterly report, expanding its market cap by more than $200 billion as of mid-day.

Larger than expected U.S. job gains last month continue to fuel market bets that the U.S. Federal Reserve will kick off its interest rate hikes in March with a hefty half-point jump. Interest rate futures traders largely expect Fed policymakers to raise the target range of the overnight borrowing rate between banks by a quarter-of-a-percentage point, to 0.25% to 0.50%. But they are also pricing in a 31% chance of a bigger, half-point rate hike.

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