Market View

Canada factory Purchasing Manager’s Index (PMI)declined to 45.6 from 46.1 in May, marking the fifth straight month sub-50 continues, as the trade war with the U.S drove the continued downturn. On the other hand, the US trade deficit widened by 18.7% to $71.5 billion in May, driven by weak exports, while economists warned that it could take some time for the tariff-related effect to affect the economic data. The Canadian dollar was 73.62 cents USD. The U.S. S&P 500 ended the week up 2.1%, while the TSX was up 1.7%.

A lot more greens this week than reds. Consumer discretionary and industrials gained 4.4% and 2.4%, respectively. Technology and financials added 2.2%, each, while real estate edged up by 1.9%. Materials gained 1.5%, while Energy ended the week up 0.4%. Consumer staples ended the week down slightly, 0.1%. The most heavily traded shares by volume were TC Energy (TRP), Toronto-Dominion Bank (TD) and National Bank of Canada (NA).

5 from 5i

Here are five reads we found interesting last week:

• The Two Types of Money People, published by Ben Carlson of Ritholtz Wealth Management LLC
• The 4 Rules for Cash: How to Manage Your Money the Smart Way, by Sheryl Rowling of Morningstar
• Why Financial Independence is Overrated, published by Nick Maggiulli of Of Dollars and Data
• How to Spend More Money, written by Ben Carlson of Ritholtz Wealth Management LLC
• Tesla bulls are latching on to silver linings after the worst-ever drop in deliveries, written by Jon Keegan of Sherwood News

Happy Reading & Stay Safe!

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