Market View

The possibility of Chinese property company Evergrande collapsing took a toll on Asian and S&P500 earlier this week. The worries eased after Evergrande reached a deal with some of its debtors. Oil prices lowered as the US Gulf oil output resumed following the hurricanes. Norway’s central bank, Norges Bank, became the first central bank in the developed market to raised interest rates in the post-pandemic economy. The Canadian dollar was 78.76. U.S. S&P500 ended the week up 1.0%, while the TSX ended the week up 0.6%.

It was a relatively calmer week for the TSX sectors. Energy rose 6.5%, while consumer discretionary and financials gained 1.6% and 1.1%, respectively. Technology, consumer staples, materials, and telecommunications sectors ended the week flat. The most heavily traded shares by volume were Athabasca Oil, Baytex Energy, and Bombardier Inc.

5 from 5i

Here are five reads we found interesting last week:

• Does guru investing work? By Joachim Klement and posted on CFA Institute blog
• Banking the poor, by Marc Rubinstein of Net Interest
• He pushed Uber out of China, then he got too big for Beijing, authored by Laure He of CNN Business
• The trillion-dollar fantasy, written by Kenneth Pucker of Institutional Investor
• How the old products Apple keeps around are crucial to its success, by Dan Moren of Macworld

Happy Reading & Stay Safe!

Disclosure: Please note that the author does not hold a financial or other interest in stocks or funds mentioned.