Market View

The US economy grew at a slower pace than expected, increasing at a 3.2% annualized rate, slightly missing expectation of 3.3%, driven largely by the downward revisions of the private inventory investments. On the other hand, the key Federal Reserve inflation rate, the core Personal Consumption Expenditures (CPE) price index, indicates a price pressure in January, in line with expectations, keeping a June rate cut on the table. The Canadian dollar was 73.76 cents USD. The U.S. S&P500 ended the week up 0.4%, while the TSX was up 0.7%.

A lot more greens this week than reds. Energy added 5.5%, while information technology and materials added 2.1% and 1.4%, respectively. Consumer discretionary and industrials edged up 0.2% each, while financials remained flat. Real estate edged down 1.7%, while consumer staples ended the week slightly down 0.4%. The most heavily traded shares by volume were Cenovus Energy, Athabasca Oil Corporation, and Baytex Energy.

5 from 5i

Here are five reads we found interesting last week:

•  What If You Invested at the Peak Right Before the 2008 Crisis?, written and published by Ben Carlson of Ritholtz Wealth Management LLC

• Magnificent Seven vs. the “Granolas”: How Does Europe’s Version Stack Up?, by Jocelyn Jovene of Morningstar

• Buffet and Three Hedge Funds, authored by Roger Lowenstein of Intrinsic Value

• How Much Cash Should You Have In Your Portfolio?, published by Mike Piper of Oblivious Investor

• Repeat sales house price indexes continue to increase on par with past expansions, authored by The Bonddad Blog

Happy Reading & Stay Safe!

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