Market View

The US treasury yields advanced strongly due to the escalation in Middle East tensions between Israel and Iran, putting pressure on the global equities market. On the other hand, the US economy grew at a 2.5% annualized rate, a slowdown from 3.4% last quarter, falling below the Fed’s estimate for the first time in two years, posing a dilemma of slow growth and high inflation. The Canadian dollar was 72.95 cents USD. The U.S. S&P500 ended the week flat, while the TSX was up 0.2%.

It was a mixed week of greens and reds. Consumer staples rose 2.9%, while energy and consumer discretionary gained 2.0% each. Financials added 0.6% while real estate edged up by 0.5%. Industrials slid by 0.8%, while materials gave up 0.3%. Technology ended the week flat. The most heavily traded shares by volume were Bank of Nova Scotia, Royal Bank of Canada and Kinross Gold Corporation.

5 from 5i

Here are five reads we found interesting last week:

• Are You an Investment Historian or a Futurist?, written by John Rekenthaler of Morningstar
• Necessary Evil in the Stock Market, published by Ben Carlson of Ritholtz Wealth Management LLC
• Active ETFs are Soaring. Should You Invest?, by Bryan Armour of Morningstar
• Is Auto Insurance Becoming a Crisis?, written and published by Ben Carlson of Ritholtz Wealth Management LLC
• Rich People Who Don’t Feel Rich, published 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.