Market View
The U.S. strikes a trade deal with Japan, which consists of a 15% tariff on imported goods, while Japan will invest $550 billion into the U.S. On the other hand, the European Central Bank keeps interest rates unchanged as it waits and sees the impact of the U.S. tariffs on the economy before deciding whether to cut interest rates again. The Canadian dollar was 73.31 cents USD. The U.S. S&P 500 ended the week up 0.8%, while the TSX was up 0.1%.
A lot more greens this week than reds. Materials and real estate gained 2.7% and 1.7%, respectively. Energy edged up by 1.3%, while consumer staples gained 1.0%. Financials ended the week up 0.2%. On the other hand, industrials gave up 2.6%, while technology and consumer discretionary edged lower by 1.4% and 0.3%, respectively. The most heavily traded shares by volume were Bank of Montreal (BMO), Celestica (CLS) and Royal Bank of Canada (RY).
5 from 5i
Here are five reads we found interesting last week:
- The Best Time to Invest, written by Ben Carlson of Ritholtz Wealth Management LLC
- Big Change is Coming to The Fed, written by Nell Irwin of Axios
- Scraping the Bottom of the Barrel, published by Herb Greenberg of Herb Greenberg |On the Street
- The Ovarian Lottery, published by Ben Carlson of Ritholtz Wealth Management LLC
- Chipotle dives after it reports comparable sales that missed Wall Street estimates, as written by J. Edward Moreno 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.
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