Market View

Weaker US economic data earlier this week left investors confident about a pivot from the Federal Reserve from hawkish to less hawkish. However, that quickly changed after a stronger payrolls report from ADP. Oil prices rose as OPEC+ announced the largest supply cut since 2020. The Canadian dollar was 73.05 cents USD. The U.S. S&P500 ended the week up 0.9%, while the TSX ended the week relatively flat.

This week saw a major swing in sentiment ending the week on the weaker side. Energy gained 11.7%, while healthcare, consumer discretionary, and industrials ended the week flat. Consumer staples declined by 1.6%, while technology gave up 0.8%. The most heavily traded shares by volume were Canopy Growth Corporation, HEXO Corp, and Aurora Cannabis Inc.

5 from 5i

Here are five reads we found interesting last week:

• Wall street’s 2022 outlook for stocks, posted on TKer by Sam Ro
• The bond market massacre of September 2022, authored by Adam Tooze
• What to buy? Bonds. When? Now. Written by Jan van Eck of VanEck
• 3 reasons international investing hasn’t paid off, by Amy Arnott of Morningstar
• Short-term pain = long-term progress, by Mark Higgins of CFA Institute

Happy Reading & Stay Safe!

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