Market View 

Greater Toronto home sales edged down 16% in June compared to the same period last year, despite the easing cost of borrowing. On the other hand, Canada’s job market stalls in June, as unemployment rate climbs to 6.4%, increasing the likelihood for the Bank of Canada to cut interest rate in July.. The Canadian dollar was 73.46 cents USD. The U.S. S&P500 ended the week up 1.2%, while the TSX was up 2.1%.

Most sectors ended up strongly this week. Technology, energy, and real estate added 3.4%, each, while financials and materials added 2.4%, each. Consumer discretionary and industrials ended the week up 2.3% and 2.2%, respectively. The most heavily traded shares by volume were Power Corporation of Canada, Corus Entertainment, and Toronto-Dominion Bank.

5 from 5i

Here are five reads we found interesting last week:

• Bull Market Headlines, written by Ben Carlson of Ritholtz Wealth Management LLC
• ‘Boomer Candy’ Funds: Sweet Treats or Investment Toothache?, by John Rekenthaler of Morningstar
• The U.S. Real Estate Market in Charts, published by Ben Carlson of Ritholtz Wealth Management LLC
• I’m Not Ready for Retirement (but I’m Not Waiting), published by Christine Benz of Morningstar
• Major Asset Classes |June 2024 | Performance Review, published by The Capital Spectator

Happy Reading & Stay Safe!

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