Market View

Oil prices plunged to around $85, while stocks and bonds rallied after Trump and Iran said the Strait of Hormuz is fully open. In addition, the S&P 500’s round trip from a near correction (-9%) to a new all-time closing high this week was the fastest since 2020. The Canadian dollar was 73.17 cents USD. The U.S. S&P 500 ended the week up 4.8%, while the TSX was up 2.3%.

It was a strong week for the market overall. Information technology led the way, surging 14.4%, while financials and real estate gained 4.8% and 4.6%, respectively. Materials and industrials also moved higher, up 2.8% and 1.4%, while consumer discretionary edged up 1.1%. On the downside, energy fell sharply, down 8.3%, while consumer staples declined 2.5%. The most heavily traded shares by volume were Royal Bank of Canada (RY), Canadian Natural Resources (CNQ), and Celestica (CLS).

5 from 5i

Here are five reads we found interesting last week:

• Has the Stock Market Really Been More Volatile Than Usual This Year?, by Morningstar.
• Take This Simple Step in the Run-Up to Retirement, by Morningstar.
• The Business of Life Is the Acquisition of Memories, by Ben Carlson of A Wealth of Common Sense.
• Why Portfolio Diversification Has Paid Off—But More Isn’t Always Better, by Morningstar.
• Did AI Kill Coast FIRE?, by Nick Maggiulli of Of Dollars and Data.
  
  

Happy Reading & Stay Safe!

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