Market View

Thursday’s sell-off came after a strong summer rally that sent major indices to record highs. The sell-off continued today. Canada added 245.8k jobs in August, bringing the unemployment rate to 10.2 percent, down from an all-time high of 13.7 percent in May. The U.S. dollar slipped. The Canadian dollar was 76.18. U.S. S&P500 was down 3.7% this week and the TSX ended the week down 3.3%.

All sectors ended the week in red this week. Technology and Energy slipped 5.6%, each. Healthcare slid 4.3%, and financials by 3.7%. Industrials and consumer staples were down 2.7%, each. The most heavily traded shares by volume were Suncor Energy, Crescent Point, and Air Canada.

5 from 5i

Here are five reads we found interesting last week:

• Monetary policy gone wild: A lost generation of US growth? Written by Danielle DiMartino Booth of CFA Institute
• Blockchain, the amazing solution for almost nothing, by Jesse Frederik on The Correspondent
• Why does the government let a company like Herbalife stay in business? By Michael Hiltzik of Los Angeles times
• Why you should not day trade, by The White Coat Investor
• Government bonds have given us so much, by Ben Inker of GMO

Bonus:

• Pool Corporation (POOL): Just another expensive & boring high quality business, posted on Caffeinated Investor
• The secret adjustment factor Tesla uses to get its big EPA range numbers, written by Dave Vanderwerp of Car & Driver

Happy Reading & Stay Safe!

Thinking about becoming a 5i Research Member?  

There is no better time to join but don't just take our word for it. Try it for free for the next month and experience all the benefits of the 5i Research membership. (And don't worry. We won't ask for your credit card upfront)

Disclosure: Please note that the author does not hold a financial or other interest stocks or funds mentioned.