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The benchmark S&P/TSX Composite Index traded slightly lower at 16,282.82, down 15 points or 0.09% on Friday. At the close, the index was featuring a dividend yield of 3.62% and traded at a Price-to-Earnings (PE) multiple of 19.73x.
Overall investor’s sentiment remains cautious after the splendid rally in the previous session. Investors are looking ahead to market movements as US president-elect Joe Biden plans for Oval office even as Donald Trump refused to empty office.
5-day Price Chart (as on November 06, 2020, after the market close). Source: EODHD/Others (Thomson Reuters)
At the close, the index traded above its long-term as well as short-term support levels of 200-day, 50-day and 30-day simple moving averages (SMAs). Also, the leading momentum indicator, Moving Average Convergence Divergence (MACD) is rising, and hovering above 9-day SMAs.
TSX-listed cannabis stocks leapt up again with investors betting on hopes Democrat Joe Biden legalize recreational consumption of marijuana. Aurora Cannabis stock leads the marijuana arena.
Leading the index, Healthcare sector, Utilities Sector, and Technology sector were among the top performing sectors on the TSX Composite index. On the other side, Energy, Real Estate dragged the index lower.
TSX Sector Summary. Source: EODHD/Others (Thomson Reuters)
Stocks in Play*
Gainers: Aurora Cannabis Inc (up 55.87%), Cronos Group Inc (up 16.21%) and Canopy Growth Corp (up 10.51%), respectively.
Losers: Ballard Power Systems Inc (down 6.5%), Pembina Pipeline Corp (down 6.30%), and ARC Resources Ltd (down 6.20%) respectively.
Volume Leaders: Aurora Cannabis Inc., HEXO Corp., and Enbridge Inc.
On Wall Street: Benchmark indices of the United States traded in mix, with the Dow Jones trading slightly lower by 0.24% to 28,323.40, the S&P 500 index settled 0.03% lower at 3,509.44 and the technology weighted the Nasdaq Composite Index traded 0.04% higher at 11,895.23.
Commodity News*
Gold futures extended gains and closes 0.25% higher at $1,951.70/oz.
Brent Oil plummeted 3.62% to $ 39.45/bbl and American oil benchmark Crude WTI plummeted 4.25% to $ 37.14/bbl respectively.
Forex*
USD/CAD traded at 1.3055 on Friday against 1.3047 a day before.
U.S greenback losses ground against the basket of majors for the fourth straight day, with Dollar Index declined 0.31% to 92.225.
*After the market close (as on November 06, 2020)
