Market View

Organization of the Petroleum Exporting Countries (OPEC+) postponed its oil supply by two months in an effort to reverse the price slump. On the other hand, the Bank of Canada delivers a third straight interest rate cut, bringing the interest rate down to 4.25 percent. The Canadian dollar was 74.10 cents USD. The U.S. S&P500 ended the week down 1.9%, while the TSX was down 0.8%.

It was a mixed week of greens and reds. Financials rose 1.4%, while real estate and consumer staples gained 0.8% and 0.2%, respectively. Energy slid by 6.7%, while materials gave up 3.7%. Consumer discretionary and technology edged down 2.4% and 2.0%, respectively, while industrials ended the week down 0.5%. The most heavily traded shares by volume were Canadian Natural Resources, Cenovus Energy and Suncor Energy.

5 from 5i

Here are five reads we found interesting last week:

• Rich vs. Wealthy, published by Ben Carlson of Ritholtz Wealth Management LLC
• Tips to Help You Spend Less (or more) in Retirement, by Samantha Lamas of Morningstar
• 31 Years of Stock Market Returns, by Ben Carlson of Ritholtz Wealth Management LLC
• Timing the Stock Market Using Valuations, written by Ben Carlson of Ritholtz Wealth Management LLC
• The Power of Private Equity, published by Ted Seides of Capital Allocators

Happy Reading & Stay Safe!

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