Market View

Inflation in Canada slowed more than expected to an annualized rate of 1.7 percent, driven by lower gasoline prices, supporting a call for another rate cut in September. In addition, Canada’s GDP rebounded to grow by 0.2 percent in July after three months of contraction as mining, manufacturing and wholesale trade boosted economic growth. The Canadian dollar was 71.75 cents USD. The U.S. S&P 500 ended the week down 0.5%, while the TSX was up 0.1%. 

This week had more reds than greens. Technology slid by 5.9%, while real estate gave up 1.9%. Industrials and consumer staples ended the week down 1.4%, each, while financials and consumer discretionary both slid by 0.4% and 0.1%, respectively. Energy ended the week up 5.1%, while materials gained 2.7%. The most heavily traded shares by volume were Suncor Energy (SU), Shopify (SHOP), and Constellation Software (CSU).

5 from 5i

Here are five reads we found interesting last week:

• Why the 4% Rule is More Like the 2% Rule, published by Ben Carlson of Ritholtz Wealth Management LLC
• OpenAI Shows Us The Money, written by Zvi Mowshowitz of Don’t Worry About the Vase
• Detached from Reality? (No), written by Barry Ritholtz of Ritholtz Wealth Management LLC
• Stocks, Housing & Social Security: What Matters Most?, written by Ben Carlson of Ritholtz Wealth Management LLC
• American Express: An Empire of Plastic, published by Emil Persson of Quartr

Happy Reading & Stay Safe!

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