Market View

US headline inflation came in at 2.5%, slightly below expectations of 2.6%, and core inflation came in at estimates of 3.2%. The S&P 500 has bounced back from last week when it saw its largest weekly drop in 18 months, led by recession fears. The Canadian dollar was 73.66 cents USD. The U.S. S&P 500 ended the week up 3.4%, while the TSX was up 3.3%. 

All but one sector rose this week. Materials, healthcare, and tech were big winners this week, with materials rising 8.9%, and both healthcare and technology up 4.0% each. Financials rose 3.3%, industrials saw a 3.2% gain, and consumer discretionary rose 2.9%. Real estate has been aided by lower interest rates, rising 3.6% on the week, and consumer staples was up 1.7%. Energy was the only sector to decline on the week, falling 1.1%. The most heavily traded shares by volume were Fission Uranium Corp, Hydro One, and Cenovus Energy.

5 from 5i

Here are five reads we found interesting last week:

• Can This Continue? By Ben Carlson of A Wealth of Common Sense
• The One Group of People In Markets Who Aren’t Worrying About a Recession by Yiwen Lu of Sherwood
• Behind the Sector Rotation Away from Tech by CME Group
• Investors Must Survive by Joe Wiggins of Behavioural Investment 
• The End of Work by Daniel Miessler of Unsupervised Learning 

Happy Reading & Stay Safe!

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