Market View

Canadian inflation cooled to 3.8% in September, down from 4.0% in August amid a continuing relief of grocery prices, leaving room for the Bank of Canada to keep interest rates unchanged. On the other hand, in a recent meeting, Federal Reserve Chair Jerome Powell validated a pause in policy tightening in November while being open to a further interest rate hike if necessary, putting pressure on the equities market. The Canadian dollar was 73.03 cents USD. The U.S. S&P500 ended the week down 2.2%, while the TSX was down 1.5%.

This week had more reds than green. Real estate slid by 4.0%, while financials gave up 3.2%. Industrials ended the week down 2.3%, while consumer staples and information technology slid by 1.9 and 0.4%, respectively. On the other hand, materials gained 2.1%. Consumer discretionary and energy both ended the week slightly up 0.4%. The most heavily traded shares by volume were Canopy Growth Corporation, Baytex Energy, and Argonaut Gold.

5 from 5i

Here are five reads we found interesting last week:

• The Trusted 60-40 Investing Strategy Just Had Its Worst Year in Generations, authored by Eric Wallerstein of The Wall Street Journal
• Medtech Carnage, published by Herb Greenberg

• Navigating the Magnificent Seven’s Fundamentals, written and published by Justin Carbonneau of Validea Guru Investor Blog

• What Else Might be Driving Sentiment?, written and published by Barry Ritholtz of Ritholtz Wealth Management LLC

• The collapse of the existing home market continues in September, written and published by The Bonddad Blog

Happy Reading & Stay Safe!

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