5 from 5i: Best 50-day rally ever

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Market View

Major index futures started to soar as May jobs report came in much better than feared for both the US and Canada. Canada added 289.6k jobs in May. OPEC moved up discussions on whether to extend production cuts to Saturday. The US dollar rose while gold was weighed down by gains in equities. The Canadian dollar was 74.6 cents. U.S. S&P500 was up 5.4% this week and the TSX ended the week up 4.4%.

Energy rose 18.0% this week, and financials and consumer discretionary jumped 9.0% and 8.5%, respectively. Consumer staples slid 0.5%, while technology ended the week flat. Enghouse systems reported a solid quarter. The most heavily traded shares by volume were Air Canada, Bombardier Inc, and Baytex Energy.

5 from 5i

Here are five reads we found interesting last week:

 

Happy Reading & Stay Safe!

 

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Disclosure: Please note that the author does not hold a financial or other interest stocks or funds mentioned.

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