Market View

In a surprising turn of events, the market made a reversal this week ending with a lower loss despite the news of Russia invading Ukraine. This sent the prices of Crude Oil and Brent over $100 a barrel, each, before dropping back. Major US indices ended the week in a ‘correction’ territory. Gold prices steadied and the US dollar strengthened. The Canadian dollar was 78.50 cents USD. U.S. S&P500 ended the week down 0.5%, while the TSX ended the week down 0.6%.

All but one sector ended the week in the red. Healthcare slid by 6.8%, followed by consumer discretionary which gave up 1.8%. Materials declined by 1.5%, and financials fell by 1.1%. Energy gained 0.9%. The most heavily traded shares by volume were Baytex Energy, Sprott Physical Uranium Trust, and Crescent Point Energy.

5 from 5i

Here are five reads we found interesting last week:

• Everyone thinks rising interest rates are bad for tech stocks. But are they? By Doug Peta of Institutional Investor
• Shopify’s evolution, posted by Ben Thompson of Stratechery
• Why Spotify bought Chartable and Podsights, written by Om Malik of OM
• Apple broke Facebook’s ad machine. Who’s going to fix it? Authored by Peter Kafka of Vox recode
• The money printing press that is chip maker TSMC, by Timothy Morgan of nextplatform.com

Happy Reading & Stay Safe!

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