Market View

The Dow and S&P500 closed at record highs this month. S&P500 briefly touched 3,000 this week. Concerns of Sino-US trade war are still ongoing. OPEC forecast that the world demand for its crude oil would decline as supply from rivals increases resulting in a surplus despite an OPEC-led pact to restrain supplies. Prices on the safe-haven gold rose as demand rose. The Canadian dollar was 76.71 cents. U.S. S&P500 was up 0.9% this week and TSX ended the week up just 0.2%.

It was a mixed bag this week. Energy jumped 2.9% this week, and consumer staples by 0.8%. Utilities jumped by 0.5% and technology was up 0.3%. Healthcare slid the most by 5.4%, followed by Industrials, which fell by 1.0%. Materials and financials fell by 0.7%, respectively. CannTrust Holdings said it suspended sales of cannabis products after the federal health regulator found the company sold marijuana produced in unlicensed facilities. Alimentation Couche-Tard reported this week missing analyst estimates for quarterly profit. This was likely due to lower fuel sales across North America and Europe as well as higher expenses. The most heavily traded shares by volume were Aurora Cannabis, CannTrust Holdings, and Canopy Growth.

5 from 5i

Here are five reads we found interesting last week:

-How tactical asset allocation strategies performed in June 2019

-Stocks and Bonds are in sync as they rise higher

-When “bonds” aren’t bonds

-A tick up in ETF liquidations

-Evernote, a story to tell

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