SHARE ON: |
| |
| |
 |
 |
|
|
Canadas main stock index ended higher for a second-straight week on positive sentiment from a potential COVID-19 treatment and strong domestic jobs numbers.
The SPTSX composite index closed up 145.18 points at 15,713.82 for a gain of 117 points over the week.
Despite surging infections in parts of the U.S., hopeful news came from Gilean Sciences that its treatment remdesivir helped reduce the risk of mortality in patients.
And Canadas unemployment rate fell in June, following a similar move in the U.S., as 952,900 jobs were added amid some economic reopenings.
Its just a day filled with a little bit of positive news and for now the glass -- at least today, anyway -- is half full, said Allan Small, senior investment adviser at HollisWealth.
The market recovery has largely been spurred by the tech sector, which has been helped by people working from home and shopping online. But Fridays boost in sentiment helped the banking and energy, he said.
In New York, the Dow Jones industrial average was up 369.21 points at 25,075.30. The SP 500 index was up 32.99 points at 3,185.04, while the Nasdaq composite was up 69.69 points to another record close of 10,617.44 and intraday record high of 10,622.35.
Nine of the 11 major sectors on the TSX were up, led by energy, health care and financials.
Energy gained 3.3 per cent on higher crude oil and natural gas prices.
The August crude contract was up 93 cents at US40.55 per barrel and the August natural gas contract was up 2.6 cents at nearly US1.81 per mmBTU.
Crude rose after the International Energy Agency boosted its 2020 demand forecast. That helped Canadian energy companies such as Enerplus Corp. and Vermilion Energy Inc. whose shares were up 8.9 and eight per cent respectively.
Canopy Growth Corp. climbed 8.1 per cent to propel the health care sector while shares of several Canadian banks rose in lockstep with gains in the U.S. banking sector. Laurentian Bank gained three per cent, the Bank of Montreal increased 2.7 per cent and the Bank of Nova Scotia rose 2.6 per cent.
Technology fell with Lightspeed POS Inc. and Blackberry Ltd. down three and 1.8 per cent respectively.
Materials dipped despite gains by forestry companies as gold prices slipped, but remained above US1,800 an ounce and higher for a fifth-straight week.
While some analysts believe gold is appreciating over fears of inflation and as a result of massive monetary and fiscal stimulus, Small is less hopeful about the precious metal.
When fear is removed or at least when we do get some sort of vaccine in the fall hopefully, I would not be surprised to see gold, that fear premium come out of it.
The Canadian dollar traded for 73.56 cents US compared with 73.77 cents US on Thursday.
North American stock markets have rallied sharply from March lows but need some sort of catalyst to get to the next level and regain all-time highs, said Small.
I actually think we will show positive numbers on the indices by the end of the year. Im not giving up on this year. I still think investors can make money.
|
 |
|
 |
|
 |
|
 |
8 am |
| 2 ℃ |
| OVERCAST CLOUDS |
WIND: SW 3 KM/H
GUSTING TO 4 KM/H |
|
|
 |
9 am |
| 2 ℃ |
| OVERCAST CLOUDS |
WIND: WNW 4 KM/H
GUSTING TO 4 KM/H |
|
|
|
10 am |
| 2 ℃ |
| OVERCAST CLOUDS |
WIND: NW 8 KM/H
GUSTING TO 11 KM/H |
|
|
|
11 am |
| 1 ℃ |
| OVERCAST CLOUDS |
WIND: NW 13 KM/H
GUSTING TO 18 KM/H |
|
|
|
12 pm |
| 0 ℃ |
| OVERCAST CLOUDS |
WIND: NW 17 KM/H
GUSTING TO 27 KM/H |
|
|
|
1 pm |
| 0 ℃ |
| OVERCAST CLOUDS |
WIND: NW 20 KM/H
GUSTING TO 31 KM/H |
|
|
|
2 pm |
| 1 ℃ |
| OVERCAST CLOUDS |
WIND: NW 22 KM/H
GUSTING TO 33 KM/H |
|
|
|
3 pm |
| 1 ℃ |
| OVERCAST CLOUDS |
WIND: NW 21 KM/H
GUSTING TO 31 KM/H |
|
|
|
|
TODAY |
HIGH OF 2 ℃
LOW OF -2 ℃ |
| OVERCAST CLOUDS |
|
|
 |
THURSDAY |
HIGH OF 4 ℃
LOW OF -3 ℃ |
| CLEAR SKY |
|
|
|
FRIDAY |
HIGH OF 4 ℃
LOW OF -3 ℃ |
| BROKEN CLOUDS |
|
|
|
SATURDAY |
HIGH OF 5 ℃
LOW OF -1 ℃ |
| OVERCAST CLOUDS |
|
|
|
SUNDAY |
HIGH OF 4 ℃
LOW OF -1 ℃ |
| OVERCAST CLOUDS |
|
|
|
MONDAY |
HIGH OF 3 ℃
LOW OF -3 ℃ |
| OVERCAST CLOUDS |
|
|
 |
TUESDAY |
HIGH OF 4 ℃
LOW OF -9 ℃ |
| LIGHT SNOW |
|
|
|
WEDNESDAY |
HIGH OF -8 ℃
LOW OF -11 ℃ |
| LIGHT SNOW |
|
|
|
|
|
 |
 |
|
| Zwilling Black Friday – Up to 65% Off Kitchen Essentials! |
| |
| Upgrade your kitchen this Black Friday! Save up to 65% on Zwilling knives, cookware, and kitchen tools—perfect for cooking enthusiasts. |
| |
| Black Friday deals end soon—shop Zwilling now! |
|
 |
|
 |
|
|
 |
 |
SEETHER
LET YOU DOWN
08:12 AM |
|
 |
AIRBORNE
BREAKIN OUT OF HELL
08:08 AM |
|
 |
THECITYISOURS
ENOUGH
08:03 AM |
|
 |
MEMPHIS MAY FIRE
LOVE IS WAR
07:59 AM |
|
 |
R8EDR
THIS PLACE WE CALL HOME
07:57 AM |
|
 |
TIMEPIECE
SLIP AWAY
07:53 AM |
|
 |
DEF LEPPARD
PERSONAL PROPERTY
07:49 AM |
|
 |
LINE SO THIN
PREY
07:43 AM |
|
 |
POET THE BAND
LIKE A DEVIL
07:39 AM |
|
 |
LINKIN PARK
UP FROM THE BOTTOM
07:36 AM |
|
 
 |
