Market View

Canada’s annual inflation rate slowed to 2.7 percent in April, increasing the chance that the Bank of Canada will start cutting rates as early as June. On the other hand, the prices of crude oil closed lower for a fourth-straight session on mild demand, and rising inventories, indicating a voluntary supply cut by OPEC+. The Canadian dollar was 72.84 cents USD. The U.S. S&P500 ended the week down 0.7%, while the TSX was down 0.4%.

Another week of greens and reds mixed. Consumer staples added 1.5%, while technology and energy added 0.9% and 0.2%, respectively. Real estate and consumer discretionary and technology gave up 2.1%, each. Materials slid by 0.6%, while financials and industrials both ended the week down 0.5%. The most heavily traded shares by volume were Enbridge, Suncor Energy, and Cenovus Energy.

5 from 5i

Here are five reads we found interesting last week:

• How Does the Stock Market Perform in an Election Year?, published by Nick Maggiulli of Of Dollars And Data
• What Is the Consumer Doing…?, written by Barry Ritholtz of Ritholtz Wealth Management LLC
• No, The Stock Market is Not Rigged Against the Little Guy, published by Ben Carlson of Ritholtz Wealth Management LLC
• A Masterclass with Bill Miller, by Conor Mac of Investment Talk
• 4 Economic Charts That Might Surprise You, published by Ben Carlson of Ritholtz Wealth Management LLC

Happy Reading & Stay Safe!

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