Market View
Major index futures pointed to a gain today helped by some corporate earnings and oil prices. Record US jobless claims wiped out post-2008 employment gains. European and Asian shares slipped this week and gold remained unchanged. The Canadian dollar was 70.17 cents. U.S. S&P500 slipped 1.5% this week while TSX ended the week up 0.9%.
It was a good week for energy as stocks rose 11.2%, even though they were headed for their third weekly loss. Materials jumped 9.6%, followed by consumer staples at 1.5% gain. Industrials ended the week flat while real estate and financials slipped 5.7% and 4.3%, respectively. Canadian Pacific Railway announced this week that it expects full-year earnings to be flat due to the pandemic and slow crude volumes. The most heavily traded shares by volume were Baytex Energy, Cenovus Energy, and Katanga Mining.
5 from 5i
Here are five reads we found interesting last week:
- It’s time to build, written by Marc Andreessen of Andreessen Horowitz
- Why aren’t stocks down more? by Michael Batnick of The Irrelevant Investor
- Why everyone you know is on Zoom, published on the Fast Company website and written by Mark Wilson
- When something is taken away, by Alex Riley of BunkerRiley
- I just retired, then all this happened…, by Barry Ritholtz of Ritholtz Wealth Management
ICYMI
Happy Reading & Stay Safe!
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Disclosure: Please note that the author does not hold a financial or other interest stocks or funds mentioned.
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