Market View

Canada’s tech job market has gone from boom to bust in a matter of years, as August job openings in the sector were down 19 percent from the early 2020 levels. While the CIBC economics published a report showing that unemployment among 15- to 24-year-olds has climbed to the levels typically seen only during recessionary periods. The Canadian dollar was 72.72 cents USD. The U.S. S&P 500 ended the week flat, while the TSX was up 0.6%.

It was a mixed week of greens and reds. Financials and Materials rose 1.4%, each, while energy gained 1.1%. Consumer discretionary dropped by 1.3%, while consumer staples and real estate slid by 1.2%, each. Technology and industrials ended the week lower by 0.9% and 0.8%, respectively. The most heavily traded shares by volume were Toronto-Dominion Bank (TD), Canadian Imperial Bank of Commerce (CM), and Royal Bank of Canada (RY).

5 from 5i

Here are five reads we found interesting last week:

• The Psychology Behind Market Betting (and Why it Fails), by Danielle Labotka of Morningstar
• Why I’m Bearish on U.S. Stocks (for the Second Time Since 2017), published by Nick Maggiulli of Of Dollars and Data
• The $84 Trillion Elephant in the Room, published by Ben Carlson of Ritholtz Wealth Management LLC
• Tripling Your Net Worth in 5 Years, written by Ben Carlson of Ritholtz Wealth Management LLC
• Is this 1996 or 1999?, published and written 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.