Market View

The S&P500 and NASDAQ saw a record high close on Thursday as US weekly initial jobless claims hit their lowest since the pandemic started in March 2020. TSX futures hit a record high as oil and gold prices strengthened. The US dollar also surged slightly. The Canadian dollar was 79.66. U.S. S&P500 ended the week up 0.4%, while the TSX ended the week up 0.7%.

It was a relatively calmer week with no large swings. Technology rose the highest by 2.3%, followed by energy at 1.2% gain. Utilities added 0.9%, while consumer discretionary and telecommunications rose 0.7%, each. Financials gave up 1.2%, while healthcare and consumer staples ended the week flat. The most heavily traded shares by volume were Suncor Energy, Great-West Lifeco, and NexGen Energy.

5 from 5i

Here are five reads we found interesting last week:

• Not all risk is rewarded, by Charlie Bilello of Compound Advisors
• US inflation is colling some, but not all the reasons are good ones, authored by Claudia of Stay-At-Home Macro
• The 5 worst investment tips on TikTok, published by Chris Davis of Nerdwallet
• Facebook is the AOL of 2021, by Tiernan Ray of ZDNet
• How to fix economic inequality? An overview of policies for the US and other high-income economies (a long read), published by Peterson Institute for International Economics

ICYMI

• Five reasons Facedrive plummeted 91% in six months, authored by Peter Hodson and published in the Financial Post

Happy Reading & Stay Safe!

Disclosure: Please note that the author does not hold a financial or other interest in stocks or funds mentioned.