5 from 5i: Busting the myth that active funds do better in bear markets

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Market View

Canadian economy posted a record drop in the second quarter due to pandemic. Canada GDP month-over-month grew 6.5%, highest since 1961, vs 5.6% expected. US personal income rose 0.4% in July vs 0.2% drop expected. Fed’s Powell outlines a new policy approach suggesting an extended period of low interest rates. Consequently, both Canada’s and US's main stock index futures rose. The U.S. dollar slipped. The Canadian dollar was 76.18. U.S. S&P500 was up 2.9% this week and the TSX ended the week up 1.1%.

Financials rose 4.8% this week, helped by good quarters at all banks. Technology rose by 2.0%, and telecommunications by 1.4%. Energy and healthcare ended the week flat, while consumer staples declined 1.4%. The most heavily traded shares by volume were Air Canada, Baytex Energy, and Manulife Financial.

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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