Market View

The energy sector weighed on the TSX index this week, and the U.S. indices were mostly higher, after a slight delay in voting on the $1.75 trillion Build Back Better bill. The US dollar edged up and the price of oil declined as China said that it would release some of its reserves. The Canadian dollar was 79.17 cents USD. U.S. S&P500 ended the week up 0.4%, while the TSX ended the week down 0.7%.

Most sectors were down this week, with energy falling 3.1%, financials were down 1.3%, and healthcare fell 11.4%. Materials and consumer discretionary fell by 1.4% and 0.9%, respectively. Technology was the only sector that was up on the week, increasing by 1.8%. The most heavily traded shares by volume were Cenovus Energy Inc., Baytex Energy Corp., and Crescent Point Energy Corp. 

5 from 5i

Here are five reads we found interesting last week:

• Tesla's Trillion Dollar Moment By Aswath Damodaran
• Amid Inflation Uptick, Valuations Signal Opportunities in Inflation-Linked Assets By Daniel He, Yi Qiao, and Georgi Popov of Pimco
• Why TIME is Launching a New Newsletter on the Metaverse By Andrew R. Chow of Time Magazine
• Investors Know They Own Too Much Tech. This Analysis Shows That It's Worse Than They Think By Julie Segal of Institutional Investor
• What Would It Cost to Issue 50-Year Treasury Bonds? By Jens H.E. Christensen, Jose A. Lopez, and Paul L. Mussche of Economic Research

Happy Reading & Stay Safe!

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