Market View

The US Consumer Price Index (CPI) rose 3.7% in August, outpacing the consensus estimate of 3.6%, and accelerating from 3.2% in July, driven largely by higher gasoline and housing prices. Additionally, The European Central Bank (ECB) raises its interest rates by another 25 basis points, marking its 10 consecutive rate hikes to tackle inflation. The Canadian dollar was 73.88 cents USD. The U.S. S&P500 ended the week slightly down 0.1%, while the TSX was up 2.4%.

All sectors rose again this week. Financials and materials added 3.2% and 3.1%, respectively, while industrials added 2.8% and consumer discretionary gained 2.4%. Consumer staples edged up 1.9%, and real estate rose 1.5%. Consumer discretionary ended the week adding 0.3%. The most heavily traded shares by volume were Canopy Growth, Enbridge, and Barrick Gold.

5 from 5i

Here are five reads we found interesting last week:

•  The U.S. Housing Market vs. The Canadian Housing Market, authored by Ben Carlson of Ritholtz Wealth Management LLC
• Will You Need Permission to Spend in Retirement?, by Christine Benz of Morningstar

• T-Bills vs. Treasury Bonds: Which Should You Pick When the Yield Curve Inverts, authored by David Blanchett and Michael Finke of ThinkAdvisor

• The Paradox of the American West, published by Kyle Paoletta of Business Insider

• Rethinking Restraint, written and published by James E. Mitchell of HumbleDollar

Happy Reading & Stay Safe!

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