Market View

Oil prices jumped to the highest level in a year at $97 per barrel, causing investors to be concerned about its impact on inflation. Moreover, US pending home sales for August plunged 7.1% from the month before, far worse compared to economists’ estimate of a 1.0% decline. The Canadian dollar was 74.00 cents USD. The U.S. S&P500 ended the week slightly up 0.3%, while the TSX was down 0.5%.

It was a mixed week of greens and reds. Energy rose 4.5%, while technology gained 2.1%. Consumer discretionary added 1.2% while real estate slid by 3.4%, and materials gave up 2.4%. Consumer discretionary ended the week losing 0.7%. The most heavily traded shares by volume were Canopy Growth, Baytex Energy, and Denison Mines.

5 from 5i

Here are five reads we found interesting last week:

• Best Investments to Own During a Recession, by Amy C. Arnott of Morningstar

• Renting vs. Buying: When You Shouldn’t Buy a House, authored by Ben Carlson of Ritholtz Wealth Management LLC

• How Individual Retirement Accounts Changed the Stock Market Forever, written and published by Ben Carlson of Ritholtz Wealth Management LLC

• Treat Alternatives Like Cuisines, Not Distinct Assets, published by Seth Levine of The Integrating Investor

• Absolutely Fine, written and published by Jonathan Clements of HumbleDollar

Happy Reading & Stay Safe!

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