Market View

Oil extends slide as traders weighed the possibility that OPEC+ may fast-track its latest round of production hikes into a market that is already oversupplied. On the other hand, lower interest rates are expected to drive Canadian consumer spending despite a weak labour market and sluggish housing sector. The Canadian dollar was 71.69 cents USD. The U.S. S&P 500 ended the week up 1.3%, while the TSX was up 2.0%.

A lot more greens this week than reds. Technology and consumer discretionary gained 5.9% and 2.7%, respectively. Industrials gained 2.4%, while consumer staples added 2.2%. In addition, real estate and financials edged up by 1.0%, each. Energy ended the week down 2.6%. The most heavily traded shares by volume were Toronto-Dominion Bank (TD), Shopify (SHOP), and Bank of Nova Scotia (BNS). 

5 from 5i

Here are five reads we found interesting last week:

• Why is the Stock Market Up So Much in the 2020s?, published by Ben Carlson of Ritholtz Wealth Management LLC
• Active Stock Fund Managers Have Got a Deal for You. Should You Take It?, by Jeffrey Ptak of Morningstar
• The Millionaire’s Dilemma, published by Nick Maggiulli of Of Dollars and Data
• How Bear Markets Work, written by Ben Carlson of Ritholtz Wealth Management LLC
• Betting stocks slammed on growing pressure from prediction markets, as written by Matt Phillips 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.