Market View

The tensions in the Middle East escalated given Iran’s unprecedented attack on Israel, analysts are raising short-term price forecasts for oil prices in the near term. On the other hand, the Canadian federal government proposes changes to capital gain taxes on companies and wealthy individuals by increasing the inclusion rate on capital gains earnings over $250,000. The Canadian dollar was 72.71 cents USD. The U.S. S&P500 ended the week down 2.4%, while the TSX was down 1.7%.

It was a week of reds. Real estate declined by 3.3%, followed by energy, which declined by 2.4%. Financials, industrials and consumer discretionary gave up 1.6% each, while materials and consumer staples ended the week down 1.3% and 0.2%, respectively. The most heavily traded shares by volume were TC Energy Corporation, Royal Bank of Canada and Argonaut Gold.

5 from 5i

Here are five reads we found interesting last week:

• Who is Buying a House in this Market?, written and published by Ben Carlson of Ritholtz Wealth Management LLC
• Take This Simple Step As You Approach Retirement, by Christine Benz of Morningstar
• Higher-For-Longer Risk For Rates Drives Up Treasury Yields, published by The Capital Spectator
• Knowledge Alone Doesn’t Change Behavior, published by Ben Carlson of Ritholtz Wealth Management LLC
• Why Simpler Has Been Better for Portfolio Diversification, by Amy C. Arnott of Morningstar

Happy Reading & Stay Safe!

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