Market View

Canada’s main stock index has recorded four consecutive days of losses, mainly due to drop in oil prices hurting energy shares. Price for oil fell below $70 (USD) a barrel following reports of OPEC countries’ plans to produce more oil soon. The U.S. stock index has remained relatively flat throughout the week as solid corporate earnings offset concerns over the on-again/off-again peace talks with North Korea. The 10-year treasury yield is back below 3% and the Fed policy makers announced they’re not all that worried about inflation. The Canadian dollar dipped to 77 cents US as Trump threatens tariffs and The TSX ended the week down 0.57% while the S&P 500 was down 0.61%.

Eight of the 12 TSX subgroups were higher last week, as industrials were ahead 1.4%, consumer staples saw gains of 1.7%. and information technology gained 1.2%. The four laggards were weighed most by energy, down 7.2% and health-care, trailing 2.6%. Shares of civil aviation training provider CAE rose 5.9% after posting first-quarter results and utilities were boosted by a slight jump in Hydro one shares as Credit Suisse raised their rating to outperform. The energy sector fell weighed down by drops in shares of Suncor Energy and Canadian Natural Resources. 

5 from 5i

Here are five reads we found interesting last week:

-How data has become the ruling power

-Are rising rates a boon for bonds?

-The right way to look at 200-day moving averages

-Can we be smarter than the market?

-Are bonds worth looking into?

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