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

Improvements to supports for commercial fishers announced

Improvements to the Commercial Fishery Support Program and a new accreditation for the Hay River fish plant are hoping to help support and renew momentum for the NWT’s commercial fishing industry.  

Fairbanks, Alaska named as host for 2028 Arctic Winter Games

The Arctic Winter Games International Committee has announced that Fairbanks, Alaska will be the host for the 2028 Arctic Winter Games.

Norman Wells police seize suspected crack-cocaine

Norman Wells RCMP have arrested one person and seized a large quantity of suspected cocaine following a tip from a member of the public.  

Prosper NWT introduces fee schedule for some services

The Prosper NWT Fee Regulations have come into effect as of August 1, outlining a new fee schedule for select lending and business services provided by Prosper NWT.

City of Yellowknife holding symposium on electric vehicles

The City of Yellowknife is inviting residents to learn about what electrical vehicle ownership is like in the North at their Electric Vehicle Awareness Symposium this September. Â