Market View

Ontario reopened today with outdoor dining resuming and non-essential retail allowed at 15 percent capacity. The International Energy Agency said in its monthly report, “Our first detailed look at 2022 balances confirms earlier expectations that OPEC+ needs to open the taps to keep the world oil markets adequately supplied’ with a new forecast of surpassing 100 million barrels per day next year. Gold fell while the US dollar rose. The Canadian dollar was 82.23. U.S. S&P500 ended the week flat, while the TSX ended the week up 0.4%.

It was a mixed week for TSX sectors. Healthcare added 4.5%, while energy and technology added 1.7% and 1.2%, respectively. Materials gained 0.7% while consumer staples ended the week flat. Consumer discretionary and financials slid 1.1% and 0.8%, respectively. Telecommunications gave up 0.5%. The most heavily traded shares by volume were Hut 8 Mining, BlackBerry, and Cenovus Energy.

5 from 5i

Here are five reads we found interesting last week:

• 2021 midyear economic outlook: A business investment surge ahead, posted on the Morgan Stanley website
• How a single cloud computing customer caused half the internet to go dark, by Rebecca Heilweil of Vox Recode
• John Rogers is winning, written by Dan Weil of Institutional Investor
• A guide to moving from cash to investments, by Charlie Bilello of Compound Advisors
• Five summertime stock picks to set and forget so you can enjoy some time off, by Peter Hodson and posted on the Financial Post

Happy Reading & Stay Safe!

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