Market View

The European Central Bank just lowered its benchmark rate by another 25 basis points to 3.25 percent in the wake of data showing that the disinflationary process is well on track. On the other hand, the Bank of Canada also cuts key interest rates by 50 basis points, marking the fourth consecutive decrease since June, as inflation has slowed more than expected to the target of 2 percent. The Canadian dollar was 72.13 cents USD. The U.S. S&P500 ended the week down 0.9%, while the TSX was down 1.2%.

Most sectors ended the week in red. Real estate gave up 2.4%, while industrials slid 2.1%. Consumer staples edged lower by 1.7%, while technology and energy slipped by 1.1%, each. Consumer discretionary and financials dropped by 0.9% and 0.8%, respectively. Materials ended the week up 1.6%. The most heavily traded shares by volume were Royal Bank of Canada, Bank of Montreal, and Barrick Gold Corporation.

5 from 5i

Here are five reads we found interesting last week:

•  3% Stock Market Returns For the Next Decade?, written by Ben Carlson of Ritholtz Wealth Management LLC
• 3 Steps to Uncovering Your True Financial Goals, by Samantha Lamas and Ryan O. Murphy, Ph.D. of Morningstar.
• How Much House is Too Much?, published by Nick Maggiulli of Of Dollars and Data
• The Inheritance Battle, published by Ben Carlson of Ritholtz Wealth Management LLC
• The Sweet Spot in Retirement: Working Because You Want To, written by Contessa Capital Advisors

Happy Reading & Stay Safe!

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