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Sprott Money Ltd.
111 Queen St. East
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[t] 1.888.861.0775
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sales@sprottmoney.com
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Click here for an Important Message for Customers

Important Message For Customers:

The Ontario Government has legislated that all non-essential businesses MUST BE closed BY 12:01 am on March 25. The health and safety of our employees, clients and our community is our top priority. To do our part in slowing the spread of COVID-19 we will temporarily close our administrative offices until further notice.

Furthermore, our carrier, UPS, has notified us that all shipments will not be insured and will not require a client’s signature upon delivery until further notice. Given the nature of our business, we are not willing to take that risk with your investments. As a result, we are temporarily suspending all shipments within Canada until UPS lifts these protocols.

Use e-mail for more expedient service.

Please be assured that your orders will be shipped to you as soon as we can. These are valuable investments you are making, and we want to make sure we send them in a safe, secured and insured manner. Should you have any questions or concerns, please reach out to us at 1-888-861-0775 or email us at sales@sprottmoney.com

Thanks for your patience and understanding in this difficult time.

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US STOCKS-Wall Street gains ground after virus-driven selloff

US STOCKS-Wall Street gains ground after virus-driven selloff
By Thomson Reuters 1 month ago 325 Views No comments


* TJX Cos jumps after quarterly same store sales beat

* Walt Disney dips as CEO Robert Iger steps down

* U.S. health officials warn pandemic inevitable

* Trump to hold a conference on coronavirus at 6 pm ET

* Indexes up: Dow 1.08%, S&P 1.25%, Nasdaq 1.54% (Updates to open)

By Medha Singh

Feb 26 (Reuters) - Wall Street's main indexes rose about 1% on Wednesday after suffering their worst four-day percentage fall in more than a year on fears of the economic damage from the global spread of the coronavirus.

Investors were cautious as the U.S. Centers for Disease Control and Prevention urged Americans to prepare for the virus to spread in the United States. President Donald Trump said he will hold a news conference on the coronavirus at 6 p.m. ET (2300 GMT).

As of Wednesday, death toll in Italy had crossed 19 and new cases in South Korea rose above 1,260, while Greece and Brazil reported their first cases of the virus.

"It's unclear if it's something that will be resolved in weeks or months or a longer time," said Chester Spatt, professor of finance at Carnegie Mellon University.

"There is potential for shock to both supply and demand sides of the economy. The magnitude of the shock is uncertain right now."

All major S&P sectors were trading higher, with technology leading the charge on a 1.6% gain. Defensive utilities , real estate and consumer staples were the laggards.

At 09:46 a.m. ET, the Dow Jones Industrial Average was up 291.27 points, or 1.08%, at 27,372.63 and the S&P 500 was up 39.01 points, or 1.25%, at 3,167.22. The Nasdaq Composite was up 138.33 points, or 1.54%, at 9,103.94.

The Dow has lost more than 1,900 points in the past two days alone, while the Nasdaq has slid 8.9% from its record peak hit last Wednesday.

The S&P 500, which is down 7.8% from its all-time high, has lost about $1.74 trillion in market capitalization in the last two sessions, according to S&P Dow Jones Indices senior analyst Howard Silverblatt.

Among stocks, TJX Cos Inc jumped 7.8% as the offprice retailer beat quarterly same-store sales estimates.

Beyond Meat Inc rose 6.1% as Starbucks Corp said its Canadian stores would start selling the company's plant-based breakfast sandwich next week.

Walt Disney Co slipped 0.6% on news Robert Iger will step down as chief executive officer, handing the reins to Disney Parks head Bob Chapek.

Advancing issues outnumbered decliners by a 3.63-to-1 ratio on the NYSE and by a 2.91-to-1 ratio on the Nasdaq.

The S&P index recorded one new 52-week highs and 12 new lows, while the Nasdaq recorded 10 new highs and 56 new lows. (Reporting by Medha Singh in Bengaluru; Editing by Anil D'Silva)

About Sprott Money

Specializing in the sale of bullion, bullion storage and precious metals registered investments, there’s a reason Sprott Money is called “The Most Trusted Name in Precious Metals”.

Since 2008, our customers have trusted us to provide guidance, education, and superior customer service as we help build their holdings in precious metals—no matter the size of the portfolio. Chairman, Eric Sprott, and President, Larisa Sprott, are proud to head up one of the most well-known and reputable precious metal firms in North America. Learn more about Sprott Money.

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