Energy stocks boost S&P/TSX composite Thursday, U.S. stock markets down
TORONTO — Canada’s main stock index continued to rise Thursday, boosted by gains in energy stocks, while U.S. stock markets moved lower with the post-election rally appearing to be in the rearview mirror.
The S&P/TSX composite index closed up 60.65 points at 25,049.67.
In New York, the Dow Jones industrial average was down 207.33 points at 43,750.86.
» Read more about: Energy stocks boost S&P/TSX composite Thursday, U.S. stock markets down »
Read MoreThe Smartest Dividend-Paying Oil Stocks to Buy With $500 Right Now
Oil and natural gas are highly volatile commodities. That’s probably the first lesson that investors in energy stocks learn from owning shares in companies like Chevron (NYSE: CVX) and Devon Energy (NYSE: DVN).
» Read more about: The Smartest Dividend-Paying Oil Stocks to Buy With $500 Right Now »
Read MoreBloom Energy Poised for Growth: Buy Rating Affirmed Amid Strong Demand and Strategic Agreements
Analyst Andrew Percoco from Morgan Stanley maintained a Buy rating on Bloom Energy (BE – Research Report) and keeping the price target at $20.00.
Andrew Percoco has given his Buy rating due to a combination of factors that highlight the potential growth and profitability of Bloom Energy.
Read More2 Top Energy Stocks To Own During Trump's Presidency
Investing
During Donald Trump’s presidential campaign, he told Republican convention goers that during his administration, the energy sector would benefit from policies that encourage oil companies to produce more, lowering gas prices.
» Read more about: 2 Top Energy Stocks To Own During Trump's Presidency »
Read MoreThis Ultra-High-Yield Dividend Stock in Warren Buffett's Secret Portfolio Is a No-Brainer Buy
The Burst
Market Commentary: Insiders Think This Stock Is a Steal
As a prominent mall REIT, Simon Property Group (SPG) share price has been doubly impacted by both the rise of remote work and the surge in online retail, leading to its dividend yield soaring to an impressive 6.5%.
This high yield has prompted a significant change in management’s investment strategy, now favoring the repurchase of SPG shares.
» Read more about: Market Commentary: Insiders Think This Stock Is a Steal »
Read MoreThe Ivy
1 Digital Healthcare Stock To Avoid
Health services IT company TRxADE HEALTH, Inc. (NASDAQ:MEDS) played a vital role during the pandemic, making remote care and tests available to patients with its digital healthcare wing. While the effects of the pandemic are largely in the rearview mirror, TRxADE remains a prominent player in the pharmaceutical industry.
» Read more about: 1 Digital Healthcare Stock To Avoid »
Read MoreThe Spotlight
Tootsie Roll Highlights Crazy Market
The current S&P 500 bear market was officially announced on June 13, 2022 and it doesn’t seem as if the bear market is over yet. A sustained recovery will likely commence only once interest rates peak, and further rises are no longer expected. In spite of the general market malaise, some stocks are bucking the trend when it comes to valuation metrics.