Market View

The US reported positive economic news this Friday including larger-than-expected nonfarm job creation, steeper-than-expected unemployment rate decline, and lower-than-expected wage inflation. This only marginal helped North American indices as major indices (S&P500, TSX, NASDAQ, DOW) are tracking a weekly loss. Gold prices steadied this week as well, while oil prices rose to new highs due to the escalating Russia-Ukraine war. The Canadian dollar was 78.50 cents USD. U.S. S&P500 ended the week down 0.4%, while the TSX also ended the week down 0.4%.

Materials, energy, and telecommunication sectors came out at the top this week gaining 6.4%, 4.8%, and 4.1%, respectively. Utilities added 3.3%, and consumer staples edged up 1.2%. Financials ended the week flat. Healthcare slid by 7.4%, while technology gave up 4.7%. Consumer discretionary slipped by 1.7%. The most heavily traded shares by volume were Bombardier Inc, Athabasca Oil, and Baytex Energy.

5 from 5i

Here are five reads we found interesting last week:

• The case for (always) staying invested, by Elyse Ausenbaugh of JP Morgan
• War in the time of crypto, authored by Rebecca Heilweil and Emily Stewart of recode
• Russia’ looking economic collapse, by Derek Thompson of the Atlantic
• How Ikea tricks you into buying more stuff, written by Zachary Crockett of the Hustle
• Amazon’s $31 billion ad business, explained, posted on SatPost by Trung Phan

Happy Reading & Stay Safe!

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