Market View

Commodities had a strong week lifting TSX. Fading concerns about contractionary monetary policies and positive quarterly earnings lifted market sentiment globally. Gold headed up, likely due to the festival of Diwali, and the US dollar and Oil prices also gained this week. The Canadian dollar was 80.25. U.S. S&P500 ended the week up 2.2%, while the TSX ended the week up 1.5%. The TSX hit a record high this week.

This was a week of more greens than red. Consumer staples and consumer discretionary added 4.7% and 4.5%, respectively while financials rose 2.0%. Technology gave up 1.1%, and healthcare slid by 0.6%. Energy and materials ended the week flat. The most heavily traded shares by volume were Apollo Healthcare, Enbridge Inc, and Baytex Energy.

5 from 5i

Here are five reads we found interesting last week:

• The MetaVerse: Brave new world or capitalist hellscape? Authored by Dave Nadig of ETF Trends
• 11 things every stock market investor should know, written and published by Darius Foroux
• Despite losing market share, smaller asset managers keep battling the giants, by Jessica Hamlin of Institutional Investor
• Zillow torched $381 million overpaying for houses, by Alex Kirshner of Slate.com
• Cryptocurrency: How advisors can get up to speed, authored by Tyrone Ross of Morningstar

Happy Reading & Stay Safe!

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