Market View

The Canada Consumer Price Index (CPI) cooled slightly to 2.3 percent in March as gas prices fell and a slowdown in travel to the U.S. In addition, the Bank of Canada holds interest rates unchanged, signalling a potential for an economic recession if the trade war situation continues to escalate. The Canadian dollar was 72.14 cents USD. The U.S. S&P500 ended the week up 3.4%, while the TSX was up 2.5%. 

A lot more greens this week than reds. Technology edged up 6.4%, while financials and energy gained 3.3%, each. Consumer discretionary added 2.9%, while consumer staples and real estate edged up by 1.9% and 1.5%, respectively. Industrials gained 0.7%. Materials ended the week down 1.1%. The most heavily traded shares by volume were Toronto-Dominion Bank (TD), Bank of Montreal (BMO), and Royal Bank of Canada (RY).

5 from 5i

Here are five reads we found interesting last week:

• Buying When the Stock Market is Down 15%, published by Ben Carlson of Ritholtz Wealth Management LLC
• Smart is good. Smart and lucky is better, written by Barry Ritholtz of Ritholtz Wealth Management LLC
• The “sell America” trade has reached levels not seen since the 1980s, written by Luke Kawa of Sherwood News
• Creating a Recession to Lower Long Rates Is Not a Good Idea, written by The Torsten Sløk of Apollo
• Houdini’s law – On punches and expectations in the stock market, published by Callie Cox of OptimistiCallie

Happy Reading & Stay Safe!

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