Market View

Trading activity was fairly muted this week until the discovery of a new COVID-19 variant shook the global markets. Gold prices increased, and both the US dollar and oil traded lower. The Canadian dollar was 78.32 cents USD. U.S. S&P500 ended the week down 1.88%, and the TSX declined 1.93% on the week.

Most sectors ended the week down, except for telecommunications which rose by 0.1%. Technology fell by 3.2%, materials were down 2.0%, and financials decreased by 1.6%. Consumer discretionary and consumer cyclicals fell by 3.1% and 3.3%, respectively. The most heavily traded shares by volume were Cenovus Energy Inc., Athabasca Oil Corporation, and Suncor Energy Inc.

5 from 5i

Here are five reads we found interesting last week:

• Structural or Transitory? By Barry Ritholtz of The Big Picture
• How To Generate Alpha From Hidden Earnings Data By Hannah Zhang of Institutional Investor
• How Inflation is Driving the Stock Market By Ben Carlson of A Wealth of Common Sense
• Here's How Institutional Investors' Bets on Crypto Are Performing By Alicia McElhaney of Institutional Investor
•  You're Hot Then You're Cold By Michael Batnick of The Irrelevant Investor

Happy Reading & Stay Safe!

Disclosure: The analyst(s) responsible for this report do not have a financial or other interest in securities mentioned.