AFTER THE BELL: Rising pot stocks give TSX lift, Dow led higher by tech sector, bank stocks

The TSX was unable to find lift-off today, despite jumps in pot stocks and a rise in the materials sector.

The exchange was flat, inching up 11 points.

A five percent drop in industrial giant Bombardier and losses in the real estate sector was offset by a rise to the green by heavily traded marijuana producers Aurora Cannabis, Green Organic Dutchman, Aphria and Canopy Growth.

Materials climbed 0.9 percent as gold remains a safe haven for investors in times of market volatility.

The energy sector edged 0.3 percent lower despite oil stabilizing, after tumbling 25 percent over the last month-and-a-half.

Oil climbed for a second straight day, up 28 cents to $56.53 US a barrel.

In New York, the Dow opened more than 100 points lower before dramatically reversing course and ending the day 208 points in the green.

Cisco Systems led the upward charge as the networking giant reported first quarter revenue of $13.1 billion, an increase of eight percent year over year.

Cisco’s stock rose 5.5 percent.

Also helping the Dow move higher was jumps in U.S. bank stocks along with market bellwethers Caterpillar, Intel and Apple.

An overall rally among tech stocks helped the Nasdaq gain 1.8 percent, or 125 points.

Gold and the loonie also rose significantly today.

The Canadian dollar gained nearly half a cent, up 44/100ths of a cent to $0.7596 US while gold was up $5.40 to $1,215 an ounce.

Continue Reading

You may also like



cjcd Now playing play

- Advertisement -

Related Articles

- Advertisement -

Latest News

Yellowknife airport could be moving to a new location

At a public briefing today in Yellowknife, Assistant Deputy Infrastructure Minister Sam Shannon said YZF may be moving to a new location soon.

Behchokǫ̀ residents asked to conserve water

The Tłı̨chǫ government is asking Behchokǫ̀ residents to conserve water due to low water levels in the region, effective immediately.

Minister Caroline Wawzonek speaks about Northern infrastructure investments

Caroline Wawzonek, Minister of Finance and Minister of Strategic Infrastructure, Energy and Supply Chains, has released a statement on the infrastructure investments in the North announced earlier this month.  

Hay River conducting public survey on impacts of climate change

The town of Hay River is conducting a public survey on the impacts of climate change as part of their Climate Adaption Plan. The plan will focus on how climate change is affecting people in town, what actions and priorities are identified as important and will gauge how concerned people are about it.

Investigators interviewing witnesses in Yellowknife after 35-year-old dies in custody

Saskatchewan RCMP report that they are currently interviewing witnesses and collecting evidence after a 35-year-old man from Nunavut was found dead less than three hours after being taken into custody on Thursday. A team from Sask. has been deployed to Yellowknife to conduct the investigation as an independent agency.