5 from 5i: The Coffee Can Edge

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Market View

Major North American indices remained little changed or slightly lower due to an increase in coronavirus cases and second-quarter earnings next week. The Canadian government is considering issuing longer-term debt to take advantage of low interest-rates and expects servicing costs to be lower than the forecast last year. Gold prices breached $1800 per ounce for the first time since 2011 as investors hurried towards the safe haven over fears of re-outbreaks. Oil prices and the US dollar fell slightly. The Canadian dollar was 73.65. U.S. S&P500 was up 0.5% this week and the TSX ended the week down 0.8%.

Sentiments went from positive to negative to slightly negative this week. Major indices saw their all-time highs and retracted almost immediately. TSX Energy slipped 5.5% this week and financials ended the week down 0.6%. Consumer staples were up 1.2% and technology rose 0.9%. The most heavily traded shares by volume were Baytex Energy, Algonquin Power, and Freegold Ventures Limited.

5 from 5i

Here are five reads we found interesting last week:

Happy Reading & Stay Safe!

 

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

 

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