Market View

Major stock indices fell today at open due to deteriorating US-China relations and poor US retail sales. Oil rose after a surprise drawdown in US inventories and signs that demand from China is increasing. Gold remains unchanged. The Canadian dollar was 71.07 cents. 

The week ended with more reds than green. Financials slipped by 4.7% this week, followed by consumer discretionary and utilities, both of which declined by 2.8%. Energy slipped by 1.1%. Technology rose 3.0% and healthcare by 0.4%. Aurora Cannabis posted a smaller loss compared to prior quarters helped by North America stockpiling cannabis ahead of lockdowns. Adjusted loss before interest, tax, depreciation, and amortization came in at $50.8 million vs $80.2 million a quarter ago. Canadian auto parts maker, Linamar Corp, posted quarterly reports beating profit estimates. The company cut its capital asset expenditure by 25% in the first quarter. The most heavily traded shares by volume were Zenabis Global, Aurora Cannabis, and Aphria Inc.

5 from 5i

Here are five reads we found interesting last week:

• A viral market update VIII: A crisis test – Value vs Growth, Active vs Passive, Small Cap vs Large, written by Aswath Damodaran
• Buying Grubhub might be Uber’s best chance to save itself, by Eve Batey of Eater San Francisco
• Inside HBO Max, the $4 billion bet to stand out in the streaming wars, by Cynthia Littleton and Daniel Holloway of the Variety
• QQQ joins an elite club, by Todd Rosenbluth of ETF.com
• I don’t know, by Howard Lindzon

Bonus

• Five things investors can look for to find the next Shopify, by Peter Hodson of 5i Research

Happy Reading & Stay Safe!

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