Market View 

The Federal Reserve’s new key inflation rate showed that core price pressures cooled further in July, but core services prices heated up. In addition, Canada’s economic growth unexpectedly shrinks in the second quarter, cementing the case for the central bank to hold rates steady. The Canadian dollar was 73.58 cents USD. The U.S. S&P500 ended the week up 1.9%, while the TSX was up 3.3%.

All sectors rose this week. Technology and energy added 7.3% and 5.4%, respectively, while materials added 3.7% and consumer discretionary gained 3.2%. Financials edged up 2.7%, and industrials rose 1.5%. Consumer discretionary ended the week adding 0.9%. The most heavily traded shares by volume were Canopy Growth, Tilray Brands, and Great-West Lifeco.

5 from 5i

Here are five reads we found interesting last week:

• How to Use Cash in a Portfolio, by Amy Arnott of Morningstar
• Generative AI and intellectual property, authored by Benedict Evans
• Position Sizing: Optimizing for Better Returns, published by Flyover Stocks
• Why Are Mortgage Rates So High?, authored by Ben Carlson of Ritholtz Wealth Management LLC
• The Labor Market is Not Tight, written and published by Cullen Roche of Discipline Funds

Happy Reading & Stay Safe!

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