Market View

The U.S. economy added 115,000 jobs in April, ahead of expectations of 65,000, keeping the Federal Reserve on hold as war and energy prices make inflation a bigger concern. Consumer sentiment also hit a fresh low as higher gas prices dragged on Americans’ outlooks. The Canadian dollar was 73.09 cents USD. The U.S. S&P 500 ended the week up 2.3%, while the TSX was up 0.6%.

It was a mixed week of gains and losses. Materials led the market, jumping 7.0%, while financials and real estate advanced 1.3% and 1.0%, respectively. Consumer discretionary also edged higher, up 0.8%. On the downside, information technology fell sharply, down 4.6%, while energy and consumer staples declined 2.7% and 1.5%, respectively. Industrials also ended the week slightly lower, down 0.6%. The most heavily traded shares by volume were Enbridge (ENB), Canadian Natural Resources (CNQ), and Royal Bank of Canada (RY).

5 from 5i

Here are five reads we found interesting last week:

• 10 Most Important Ideas, by Barry Ritholtz of Ritholtz. 
• Samsung Hits $1 Trillion Valuation, by Yahoo Finance.
• The Great Filter, by Nick Maggiulli of Of Dollars and Data.
• Amazon’s Durability, by Ben Thompson of Stratechery.
• How to Build a Portfolio You Don’t Have to Babysit, by Morningstar.
  
  

Happy Reading & Stay Safe!

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