Market View 

The Bank of England maintained its interest rates at a 16-year high of 5.25%, edging closer to a rate cut as early as June. On the other hand, the U.S. Labor Department reported the jobless-benefit claims of 231,000 in the week ending May 4, the highest level in nine months, compared to the estimate of 214,000. The Canadian dollar was 73.06 cents USD. The U.S. S&P500 ended the week up 1.6%, while the TSX was up 2.3%.

All but one sector rose this week. Materials and energy added 5.0% and 3.3%, respectively, while industrials gained 2.7% and financials added 2.4%. Consumer staples and real estate edged up 1.5%, each, and consumer discretionary rose 1.3%. Technology ended the week gave up 2.3%. The most heavily traded shares by volume were Athabasca Oil, B2Gold and Argonaut Gold.

5 from 5i

Here are five reads we found interesting last week:

• Six Reasons This Bull Market Is Alive and Well, written and published by Ryan Detric of Carson
• The 7 Best Retirement Books, by Carole Hodorowicz of Morningstar
• The Rise of the Forever Renter Class, written by Nick Maggilli of Ritholtz Wealth Management LLC
• Big Tech Capex and Earnings Quality, published by John Huber of Base Hit Investing
• What’s the Right Savings Rate?, 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.