Category: Strategy Management

U.S. stocks are higher on Wednesday as equities continue their rebound from a one-day rout to start the week.

The Dow Jones Industrials sprang 262.18 points, to open for business Wednesday at 34,774.17.

Better-than-expected earnings reports from Dow members Coca-Cola and Johnson & Johnson added to the bullish sentiment.

The S&P 500 climbed 25.97 points to 4,349.03

The NASDAQ added 48.25 points to 14,547.13, even though shares of Netflix declined on a disappointing subscriber forecast.

Stocks that would benefit most from a continued swift economic reopening are set to bounce again on Wednesday after rebounding from the Monday selloff in the prior session. Shares of Carnival were up more than 8%. Las Vegas Sands was up nearly 3%.

Dow member Coca-Cola gave a boost to market sentiment after reporting quarterly revenue that topped pre-pandemic 2019 levels and raising its full-year forecast. Coca-Cola shares gained more than 2%.

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Equities in Toronto rose on Tuesday, helped by strength in miners as concerns over the economic damage from surging Delta coronavirus cases and a dip in U.S. Treasury yields boosted bullion’s safe-haven appeal.

TSX Composite index recuperated 163.94 points to open for business Tuesday at 19,890.39.

The Canadian dollar faded 0.03 cents to 78.41 cents U.S.

National Bank of Canada raised the rating on Bombardier to outperform from sector perform. Bombardier gained six cents, or 4.4%, to $1.43.

CIBC cut the rating on Great-West Lifeco to neutral from outperform. Great-West shares acquired 23 cents to $36.80.

CIBC cut the target price on Western Forest Products to $2.60 from $2.90. Western shares gathered six cents, or 3.2%, to $1.94.

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U.S. stocks fell aggressively Monday on concern a rebound in COVID-19 cases would slow global economic growth. The selling picked up as the session continued and the Dow Jones Industrial Average was currently headed for its biggest drop of the year.

The 30-stock index moved earthward 785.48 points, or 2.3%, to open Monday at 33,902.37, exceeding a 2% decline seen in late January.

The S&P 500 fell 78.93 points, or 1.8%, to 4,248.23, with energy and industrial sectors as the worst performers.

The NASDAQ faltered 209.08 points, or 1.5%, to 14,211.94.

COVID cases have rebounded in the U.S. this month with the delta variant spreading among the unvaccinated. The U.S. is averaging nearly 30,000 new cases a day in the last seven days ending Friday, up from a seven-day average of around 11,000 cases a day a month ago, according to data from the Centers for Disease Control. Cases were … Read more