Market View

OPEC+ agreed to keep the supply cut intact helped oil prices, which supported TSX. Britain became the West’s first country to approve Pfizer’s COVID-19 vaccine, reaching the most vulnerable people early next week. In hopes of an additional US economic stimulus, the US dollar remained flat while gold rose. The Canadian dollar was 78.10. U.S. S&P500 ended the week up 1.5%, while the TSX ended the week up 0.9%.

It was a very uneventful week with more greens than red. Materials grew 3.5%, while energy rose 2.4%. Consumer discretionary gained 1.8% while industrials remained flat. Healthcare slid 1.6%. The most heavily traded shares by volume were Aurora Cannabis, Suncor Energy, and The Green Organic Dutchman Holdings.

5 from 5i

Here are five reads we found interesting last week:

• The sharing economy come home: The IPO of Airbnb, by Professor Aswath Damodaran of Musings on Markets
• The death and rebirth of America’s department stores, in charts, by Rani Molla of recode
• Where did all the rogue traders go? Written by Marc Rubinstein of Net Interest
• The tech monopolies go vertical, posted on Mule’s Musings
• ETF flows smash record, authored by Ben Johnson of Morningstar

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.