Dow Bruised 150 on 3rd Straight Day of Losses

U.S. stocks finished Wednesday’s session near their lows as the market continued to struggle to break out from a tight range.

The Dow Jones Industrials ended a dipsy-doodle day on the down side, 152.61 points, to 34,447.21.

The S&P 500 skidded 7.67 points to 4,219.59. The S&P 500 is now just 0.15% below its record high of 4,238.04 reached on May 7.

Industrials and financials were the two biggest losers among the 11 S&P 500 sectors, dragging down the broader market.

The NASDAQ dropped 13.16 points to 13,911.75.

Meme stock mania continued Wednesday with day traders focusing their attention on Clean Energy Fuels this time, pushing the stock up more than 31%. Clover Heath, which surged over 85% in the prior session, pulled back 23% Wednesday.

Still, many on Wall Street believe the latest meme stock episode should stay contained to a handful of names, unlike the GameStop trading frenzy … Read the rest

TSX Climbs to Yet Another All-Time High

(REVISED SCRIPT INCLUDES CANADIAN TRADE FIGURES)

TSX Climbs to Yet Another All-Time High

Air Canada, Colliers in Focus

The TSX gained 49.05 points to conclude trading Tuesday at 20,084.35

The Canadian dollar dropped 0.17 cents to 82.57 cents U.S.

Air Canada flew away from the rest of the field, gaining $1.68, or 2.6%, to $28.63, while, elsewhere in industrials, CAE climbed $1.75, or 4.8%, to $38.51.

Real estate issues got stronger, too, as Colliers International Group ahead of Monday close $4.78, or 3.4%, to $143.56, while Real Matters took on $1.07, or 6.8%, to $16.93.

In health-care, Tilray strengthened 51 cents, or 2.1%, to $24.31, while Chartwell Retirement Residence took on 23 cents, or 1.7%, to $13.94.

Gold and other resource stocks showed their wounds, particularly, Equinox Gold, fading 16 cents, or 1.5%, to $10.54, while Kinross Gold dipped 20 cents, or 2.1%, to $9.46.

Dundee Precious Metals dropped 26 … Read the rest

One Drill Rig Cutting Gold is Good, Two is Better, As This Gold-Finding Upstart Keeps Impressing

Gold has been on a terrific run lately, climbing from a 52-week low of $1,673 U.S. per ounce in March to back over $1,900 this month. The 52-week low needs to be kept in context as it only came after gold set an all-time high of $2,089 in August 2020. Part of the recent uptrend is owing to goldilocks numbers from the U.S. jobs market, including wage inflation continuing to increase, coming in at +0.5% in May after +0.7% in April.

On this trajectory, gold could be back over $2,000 an ounce again in a matter of months, or even weeks. Gold explorers have been benefiting from the favorable outlook. Graycliff Exploration Limited (CSE:GRAY) (OTCQB:GRYCF), a junior explorer making substantial progress at its Shakespeare Gold Project outside Sudbury, Ontario, has been a standout, rising 84% from 51 cents on May 12 to 94 cents on May 19. The stock has … Read the rest

S&P Closes Out Winning Week at Record High

U.S. stocks climbed on Friday as the key May jobs report showed solid gains, boosting confidence in the economic comeback.

The Dow Jones Industrials leaped 179.35 points at 34,756.39

The S&P 500 gathered 37.04 points to 4,229.89.

The NASDAQ jumped screamed higher 199.98 points, or 1.5%, to 13,814.49.

The major averages all registered modest gains for the week. The blue-chip Dow moved up 0.7% and the S&P 500 advanced 0.6% on the week for their second straight positive week. The tech-heavy NASDAQ gained 0.5% this week for its third winning week in a row.

Meme stocks continued their wild prices swings on Friday, but this time to the downside. AMC Entertainment ended the session down 6.7%, but still gained more than 80% this week. BlackBerry fell 12.7% Friday, paring its rally this week to 37%.

The U.S. economy added 559,000 jobs in May, the Labor Department said on Friday. The … Read the rest

First 20K+ Finish for TSX!

Friday proved historic for stocks in Toronto, with the country’s main exchange smashing its way past the 20,000-point barrier for the first time ever, mostly on the strength of resource stocks.

The TSX rocketed 87.8 points to end Friday at 20,029.19. On the week, the improvement was 177 points, or 0.9%.

The Canadian dollar restocked 0.15 to 82.72 cents U.S.

Energy led the charge upward Friday, with Vermilion Energy soaring 36 cents, or 3.6%, to $10.46, while Cenovus Energy gained 30 cents, or 2.7%, to $11.42.

In materials, Ero Copper took on $1.26, or 4.8%, to $27.79, while Hudbay Minerals strengthened 35 cents, or 3.9%, to $9.25.

In gold, Oceanagold shone six cents, or 2.4%, brighter, to $2.55, while Seabridge Gold zoomed 49 cents, or 2.2%, to $22.87.

Health-care stocks let the side down somewhat, however, with Organigram Holdings down 23 cents, or 5.8%, to $3.71, while Aurora Cannabis docked … Read the rest

Trade Figures Due Next Week on Both Sides of Border

Monday

U.S.

Economic Lookahead

Consumer Credit (April)

Featured Earnings

Marvell Technology Inc. (NASDAQ:MRVL) (Q1) EPS projected for 19 cents, compared to nine cents in the prior-year quarter.

Coupa Software Incorporated (NASDAQ:COUP) (Q1) EPS projected for loss of $1.01, compared to a loss of 14 cents in the prior-year quarter.

Vail Resorts, Inc. (NYSE: MTN) (Q3) EPS projected for $6.67, compared to $3.74 in the prior-year quarter.

Canada

Featured Earnings

Advantagewon Oil Corp. (C.AOC) (Q1) EPS projected for loss of seven cents, compared to a loss of one cent in the prior-year quarter.

Tuesday

U.S.

Economic Lookahead

Trade Deficit (April)

Job Openings (April)

Featured Earnings

GameStop Corporation (NYSE:GME) (Q1) EPS projected for loss of 56 cents, compared to a loss of $1.61 in the prior-year quarter.

Casey’s General Stores, Inc. (NASDAQ: CASY),(Q4) EPS projected for 67 cents, compared to $1.67 in the prior-year quarter.

Thor Industries (NYSE THO) (Q3) EPS

Read the rest

The environmental case for remote working

During the pandemic, the environmental and societal benefits of working at home quickly became apparent. How can businesses protect these benefits in the future?

Anyone searching for a silver lining to the pandemic should look to the clear, blue skies above them. A reduction in pollution worldwide has been an unintended benefit of the lockdowns and stay-in-place orders imposed to control the spread of COVID-19. 

There have been related societal benefits, too – the result of people cutting the commute and working at home. And while nobody denies that these are good things, the question is whether businesses will choose to protect them once the crisis has passed. 

The environmental impact

When the world went into lockdown in March 2020, the impact on the environment was seen almost immediately. On 19 March, researchers from Colombia University told the BBC that carbon monoxide, mainly from cars, in New York had been … Read the rest

TSX Falls Just Short of Breakeven

Stocks in Toronto got to the precipice of breaking even to Thursday, but then fall back, with resource stocks weighing heavy on proceedings.

The TSX fell 29.76 points to conclude Thursday at 19,941.39.

The Canadian dollar docked 0.44 to 82.61 cents U.S.

Among utilities, Boralex gained 69 cents, or 1.8%, to $37.76, while Altagas took on 38 cents, or 1.6%, to $24.70.

In the financial area, Canaccord Financial Group zoomed 81 cents, or 6.1%, to $14.14, while Intact Financial jumped $5.59, or 3.4%, to $169.22.

In techs, Descartes Group popped $4.53, or 6.4%, to $75.00, while Alithya Group prospered 20 cents, or 6.6%, to $3.22.

Resource stocks did not do so well, however, with Alamos Gold dropping 45 cents, or 4%, to $10.72, while Equinox tumbled 53 cents, or 4.7%, to $10.67.

Elsewhere, Endeavour Silver lost 54 cents, or 6%, to $8.48, while New Gold dipped 19 cents, or 7.1%, … Read the rest

How Thai economy began to be affected by the third wave of COVID-19

In April 2021, the Thai economy began to be affected by the third wave of the COVID-19 outbreak according to a report published by the Bank of Thailand.

Private consumption indicators declined from the previous month in all spending categories. Private investment indicators dropped from the machinery and equipment category. Meanwhile, the tourism sector has not recovered as international travel restrictions remained.

However, merchandise exports continued to improve in line with trading partners’ demand which subsequently supported production in the manufacturing sector. Public spending continued to play a role in supporting the economy.

On the economic stability front, headline inflation rate accelerated as the government’s subsidies on electricity and water bills were terminated as well as due to the low level of energy prices in the same period last year.

The labour market remained vulnerable. The current account posted a slightly higher deficit than the previous month.

Details of the

Read the rest

S&P Still Hover Near Record

Stocks rose slightly on Wednesday with the S&P 500 hovering near an all-time high.

The Dow Jones Industrials gave back some of its gains but still finished positive 25.07 points at 34,600.38

The much-broader index gained 6.08 points to 4,208.12.

June is historically a weak month for stocks, but Instinet points out that the S&P 500 has had a better track record recently, gaining every June since 2016.

The NASDAQ grabbed 19.85 points to 13,756.33.

All three indexes are fairly close to record levels. The Dow is to within 1.4% of its all-time peak, while the NASDAQ is 3.2% below its record.

Energy stocks again outperformed the broader market on Wednesday as crude prices continued their recent rebound. Investors have snapped up shares of some of the nation’s largest oil and gas companies in recent sessions as optimism about the economic rebound in the U.S. fosters demand for crude, airfare … Read the rest