Market View

The Federal Reserve held interest rates steady amid tariff uncertainty, while President Trump repeatedly demanded that the central bank reduce borrowing costs. On the other hand, Canada’s trade deficit widened in June to C$5.9 billion, due to a one-time high value of equipment imports, marking the second-largest deficit on record. The Canadian dollar was 72.64 cents USD. The U.S. S&P 500 ended the week up 0.5%, while the TSX was up 1.2%. 

It was a mixed week of greens and reds. Materials rose 7.0%, while technology gained 1.7%. Energy slid by 3.3%, while industrials and consumer discretionary slid by 1.4% and 1.0%, respectively. Financials ended the week down 0.6%, while consumer discretionary and real estate gave up 0.1%, each. The most heavily traded shares by volume were Shopify (SHOP), Enbridge (ENB) and Canadian Natural Resources (CNQ).

5 from 5i

Here are five reads we found interesting last week:

• Meme Stocks & Mr. Market, published by Ben Carlson of Ritholtz Wealth Management LLC
• Has the “Buffett Premium” Gone Away for Berkshire Stock?, by Sarah Hansen of Morningstar
• Does the 4% Rule Still Apply?, written by Ben Carlson of Ritholtz Wealth Management LLC
• Millionaires & Delusions, published and written by Ben Carlson of Ritholtz Wealth Management LLC
• Tesla board approves nearly $30 billion Musk stock award, says “retaining Elon is more important than ever”, as written by Rani Molla 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.