Market View

US reported sixth consecutive month of lower inflation at 6.5% year-over-year. This is still well above the Fed’s goal of 2% inflation. The reading came in -0.1% month-over-month. Gold and oil prices rose. The Canadian dollar was 74.57 cents USD. The U.S. S&P500 ended the week up 1.9%, while the TSX was up 2.3%.

All sectors ended the week in green. The technology sector gained 3.8%, while healthcare and financials added 3.2% and 2.9%, respectively. Energy edged up by 2.5%, while consumer discretionary and industrials added 1.4%, each. Consumer staples ended the week relatively flat. Algonquin Power & Utilities Corp, Argonaut Gold, and Hut 8 Mining were the most heavily traded shares by volume.

5 from 5i

Here are five reads we found interesting last week:

• Fed has ‘difficult’ call to avoid overdoing rates shock, by Howard Schneider of Reuters
• Wall street’s sleuth of bears is growing, published on TKer by Sam Ro
• Japan’s bubble-burst: the party that wasn’t supposed to end, by Rei Saito of Konichi-Value
• Everything is up in this bull market, posted on All Star Charts
• What can we learn from Barnes & Noble’s surprising turnaround? Authored by Ted Gioia of the Honest Broker

Happy Reading & Stay Safe!

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