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Adding to yesterday’s gains, the TSX Composite Index recovered 1.45 per cent Tuesday, December 7, to once again land over the 21,000-mark. It has gained 529.38 points, 2.55 per cent, week-to-date.
Energy and healthcare rose over three per cent and IT 2.8 per cent Tuesday.
The base metals sector was up over 2.3 per cent and financials and industrials nearly one per cent. Real estate stock Real Matters Inc, which was yesterday's top lagger, recovered over three times what it lost. The REAL stock ballooned 15.8 per cent.
GlaxoSmithKline said its antibody drug Sotrovimab fully protects against Omicron and other Covid variants after a study was conducted. Currently, about 43 per cent of the world is vaccinated.
One-year price chart (December 7). Analysis by © 2021 Kalkine Media®
Energy stocks continue to command volume actives
Energy again continued to dominate with regards to volume of trade. The top two stocks traded were the same as Monday.
Suncor Energy Inc saw 15.63 million shares traded, making it the most active stock for the third day in a row. It was followed by Canadian Natural Resources Limited that saw 10 million shares switch hands and Crescent Point Energy Corp saw 9.86 million shares traded.
All three posted significant gains. Crescent Point’s CPG stock has skyrocketed a whopping 21.33 per cent in the last four trading sessions.
Movers and laggards
Wall Street rallies after Fauci says Omicron ‘almost certainly’ not worse than Delta
On Tuesday, Anthony Fauci said Omicron is “clearly highly transmissible,” but followed that up with the heartening news that it “almost certainly” isn’t worse than Delta in terms of severity. Conclusive evidence, he said, we’ll learn in a week at most.
Wall Street’s main indices continued their rally from yesterday with trading spiking from market open till noon and holding steady till close. The Dow was up 492.4 points, 1.4 per cent, to 35,719.43 points, while the S&P 500 jumped over two percent, 95.08 points, to 4,686.75. Nasdaq, meanwhile, saw a gain of over three percent, 461.76 points, to 15,686.92.
Oil prices recover
Gold rose 0.29 per cent to US$ 1,784.70. Brent oil continued its ascent gaining 3.23 per cent to US$ 75.44. Crude oil gained 3.68 per cent to US$ 72.05/bbl.
Currency news
The loonie posted a 0.91 per cent gain Tuesday while USD/CAD ended at 1.2638. The US Dollar Index was at 96.37, up 0.04 per cent against the basket of major currencies.
Money market
The US 10-year bond yield rose 3.45 per cent to 1.482 and the Canada 10-year bond yield gained 3.74 per cent to 1.580.
