5 from 5i: America is stuck in a greased-pig economy

Michael Huynh Sep 22, 2023
Headline image for 5 from 5i: America is stuck in a greased-pig economy

Market View

Canada’s annual inflation jumped to 4.0% from 3.3%, in July higher than the consensus estimate of 3.8%, largely due to higher gasoline prices. On the other hand, The US Federal Reserve held interest rates steady at a 22-year high while signalling borrowing costs will likely stay higher for longer and implying another rate hike is on the table later this year to bring inflation back to 2%. The Canadian dollar was 74.17 cents USD. The U.S. S&P500 ended the week down 3.7%, while the TSX was down 3.7%.


All sectors ended this week down. Information Technology and Energy gave up 8.4% and 4.2%, respectively, while Real Estate slid 4.1% and Industrials edged lower 3.9%. Consumer Discretionary slipped 3.4%, and materials dropped 3.1%. Consumer Staples ended the week losing 2.8%. The most heavily traded shares by volume were Canopy Growth, Canadian Natural Resources, and TC Energy.

5 from 5i

Here are five reads we found interesting last week:

Happy Reading & Stay Safe!


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



Login to post a comment.

No comments have been posted yet.