Market View

The Bank of Canada officials discussed whether to wait until July to cut interest rates to gain further assurance inflation is still on track to reach the central bank’s 2% target. On the other hand, the Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% even though inflation has fallen to its target of 2%, as policymakers are concerned a premature cut could fuel another price rise. The Canadian dollar was 73.00 cents USD. The U.S. S&P500 ended the week up 0.4%, while the TSX was down 0.5%. 

It was a mixed week of greens and reds. Materials rose 2.2%, while energy and industrials gained 1.2% and 0.2%, respectively. Real estate, consumer staples and technology all edged down by 1.7%. Financials slid by 0.7%, while consumer discretionary gave up 0.4%. The most heavily traded shares by volume were Canadian Natural Resources, Bitfarms, and Power Corporation of Canada.

5 from 5i

Here are five reads we found interesting last week:

• Stock Buybacks by the Magnificent Seven, published by Jenna Ross of Visual Capitalist
• The Two Types of Money People, written and published by Ben Carlson of Ritholtz Wealth Management LLC
• Lessons From Another “Faux-tirement”, by Christine Benz of Morningstar
• Not Getting Rich Fast Enough, written by Ben Carlson of Ritholtz Wealth Management LLC
• Market Concentration, published by Barry Ritholtz 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.