Market View

Canada’s inflation rate decelerated to 3.4% year-over-year in May. This was mostly due to sharply lower gasoline prices and is down from 4.4% seen in April. China’s factory activity declined for the third straight month in June. The Canadian dollar was 75.55 cents USD. The U.S. S&P500 ended the week up 2.5%, while the TSX was up 3.9%.

All sectors rose nicely this week. Healthcare added 6.6%, while consumer discretionary gained 5.6%. Energy rose by 4.9%, while financials, technology and consumer staples added 4.4%, each. Industrials edged up 3.6%, while telecommunications ended the week up 3%.  The most heavily traded shares by volume were Hut 8 Mining, Bitfarms Ltd, and TC Energy Corp.

5 from 5i

Here are five reads we found interesting last week:

• AI’s winners, losers and wannabes, published by Aswath Damodaran of Musings on Markets
• Value funds, posted by the Brooklyn Investor
• The most successful ETF launch of all time raises questions, authored by Jeffery Ptak of Morningstar
• The ad industry is going all-in on AI, by Shirin Ghaffary of Vox
• Amazon, friction, and the FTC, written by Ben Thompson of Stratechery

Happy Reading & Stay Safe!

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