Market View

The Bank of Canada announced the intention to cut 10% of its workforce as part of the Prime Minister’s plan to cut cost. On the other hand, Canada reported stronger than expected job report, adding a 66,600 jobs gain in October, compared to economists’ expectation for a loss of 20,000 jobs, while unemployment rate falls to 6.9 percent. The Canadian dollar was 71.06 cents USD. The U.S. S&P 500 ended the week down 3.3%, while the TSX was down 2.3%.

Most sectors ended the week in red. Technology gave up 10%, while industrials slid 3.4%. Real estate gave out 3.0%, while financials and materials edged lower by 0.9% and 0.5%, respectively. Energy ended the week up 1.4%, while consumer discretionary and consumer staples added 0.7% and 0.4%, respectively. The most heavily traded shares by volume were Celestica (CLS), Shopify (SHOP) and Enbridge (ENB).

5 from 5i

Here are five reads we found interesting last week:

• Don’t Fall for This Common Dividend Mistake When Investing for Retirement, by David Harrell of Morningstar.
• How to Rebalance Your Portfolio in a Lofty Market, by Amy C. Arnott of Morningstar
• Should You Buy at All-Time Highs?, published by Nick Maggiulli of Of Dollars and Data
• Is Now the Time to Go All-In on Tech Stocks?, published by Ben Carlson of Ritholtz Wealth Management LLC
• The Greatest Bull Market No One Ever Talks About, 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.