Market View

Negotiations on the North American Free Trade Agreement between Canada and the US still continue. Governor Stephen Poloz commented on the Bank of Canada’s intent to continue raising interest rates gradually. The Fed raised its target overnight range to 2% to 2.25%. The Canadian dollar was 77.36 cents U.S. The week ended with the TSX and S&P500 flat. 

Four of the eleven TSX subgroups rose this week. Energy rose the highest by 3.8%, followed by industrials and telecommunications, both by 1% respectively. Healthcare fell by 3.7%, followed by consumer discretionary and materials that fell by 2.2% and 1.7%, respectively. Blackberry jumped 16.3%, following an announcement of better than expected quarterly profit. Cenovus Energy announced three-year deals with Canadian National Railway and Canadian Pacific Railway to transport crude. Shares were up 9%. The most heavily traded shares by volume were Aurora Cannabis, NGEx Resources and Royal Nickel Corporation. 

5 from 5i

Here are five reads we found interesting last week:

-Is momentum trading worth it?  

-What are liquid alternatives?

-Portfolio construction considerations

-The rise of passive investing

-What is the market telling us