Market View

Canada’s inflation rate in February unexpectedly dropped to an annual rate of 2.8%, the result was better than expected at 2.9%, indicating the Bank of Canada will have ample room to begin interest rates cut in the coming months. On the other hand, despite some hotter-than-expected inflation prints, the US Federal Reserve held interest rates steady in the range of 5.25% to 5.5% and maintained its outlook for three rate cuts this year. The Canadian dollar was 73.96 cents USD. The U.S. S&P500 ended the week up 2.3%, while the TSX was up 1.6%.

All but one sector rose this week. Real estate and industrials added 2.3%, each. While technology, financials, and consumer discretionary added 2.0%, each. Materials edged up 1.7%, and energy rose 1.4%. Consumer staples ended the week flat down 1.4%. The most heavily traded shares by volume were Lundin Mining Corporation, Power Corporation and WELL Health Technologies.

5 from 5i

Here are five reads we found interesting last week:

• Top 10 Things to Know About Building a Diversified Portfolio, by Amy C. Arnott of Morningstar
• Retirement Planning in your 20s, 30s and 40s, written and published by Ben Carlson of Ritholtz Wealth Management LLC
• “Are you better off than you were four years ago?”, published by The Bonddad Blog
• The Man Who Knew Too Much, by John Rekenthaler of Morningstar
• Inflation at the Grocery Store, written by Ben Carlson of Ritholtz Wealth Management LLC

Happy Reading & Stay Safe!

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