Market View

It was a mixed week with some good earnings beat, with improving jobs market, and rising bond yields south of the border. Lower metal prices weighed on the TSX. British Prime Minister Liz Truss announced her resignation after only 44 days in office. The US dollar rose, while gold prices fell. The Canadian dollar was 72.96 cents USD. The U.S. S&P500 ended the week up 2.4%, while the TSX ended the week up 1.5%.

Several sectors saw multiple reversals this week. Energy gained 4.5% this week, followed by technology at 3.1%, and industrials and materials at 2.3%, each.  Financials, consumer staples, and consumer discretionary ended the week flat. Healthcare slid 1.2%. The most heavily traded shares by volume were NorZinc Ltd, Shopify Inc, and Suncor Energy.

5 from 5i

Here are five reads we found interesting last week:

• There was no great stagnation, written by Adam Hunt of Works in Progress
• The rise and fall of bitcoin culture, by Paul Dylan-Ennis of CoinDesk
• Oops, we forgot to fix the supply chain, by Rebecca Heilweil of Vox
• The economics of Costco rotisserie chicken, authored by Zachary Crockett of the Hustle
• What happens when you add a hurricane crisis to an insurance crisis? By Henry Grabar of Slate

Happy Reading & Stay Safe!

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