Market View

TSX index futures declined due to a decline in oil prices. Oil slid as Texas energy firms reopen oil and gas production after days of frozen shutdowns. Eurozone factory data showed the highest activity data in three years. The US dollar and gold prices slid. The Canadian dollar was 79.26. U.S. S&P500 ended the week up 0.3%, while the TSX ended the week down 0.2%.

It was a bag of mixed sector returns this week. Energy gained 5.7%, while healthcare rose 3.3%. Consumer discretionary leaped 2.1%, and financials added 1.6%. Industrials ended the week flat, and materials slid the most by 2.8%. Consumer staples and technology slid by 2% each. The most heavily traded shares by volume were Supreme Cannabis, Nevada Copper Corp, and Avalon Advanced Materials.

5 from 5i

Here are five reads we found interesting last week:

• Bond yields are not good predictors of inflation, by Joseph Gagnon and Madi Sarsenbayev of Peterson Institute for International Economics (PIIE)
• Five things that could go horribly wrong in this high-flying stock market, by Peter Hodson, published on Financial Post
• How are Bitcoin created, written by Zachary Crockett of the Hustle
• Unfortunate investing traits, authored by Morgan Housel of Collaborative fund
• How Twitter got its groove back, posted on Not Boring by Packy McCormick

Happy Reading & Stay Safe!

Note: 5 from 5i would not be published next week, Feb 26, 2021. Service would resume on Mar 3rd, 2021.  

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