Market View

Record new daily coronavirus cases in the US kept the markets shaky this week. Earnings season and election volatility did not help the markets as indices headed for a second week of declines. The Canadian dollar was 75.15. U.S. S&P500 ended the week down 5.0%, while the TSX ended the week down 4.3% as well.

It was a week of turmoil, with energy sliding down 6.6%, and consumer discretionary by 6.1%. Technology fell 5.9%, and healthcare and telecommunications, both slipped 5.4%. Financials headed down 4.4%, and industrials stepped down 4.1%. The most heavily traded shares by volume were Bombardier Inc, HEXO Corp, and Suncor Energy.

5 from 5i

Here are five reads we found interesting last week:

• The managers who found unlikely Covid-19 winners, by Amanda Cantrell of Institutional Investor
• The building blocks of tech, authored by Rex Woodbury of Digital Native
• Audio’s opportunity and who will capture it, written by Matthew Ball
• Why category leading brick and mortar retailers are likely the biggest long term Covid beneficiaries, by Gavin Baker on medium.com
• Software is eating the markets, posted on Not Boring by Packy McCormick 

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.