Market View

Supply shortages and labor concerns weighed on North American indices as the quarterly earnings season is in progress. The European Central Bank took a dovish stance on interest rate hikes for next year. The Canadian dollar was 80.81. U.S. S&P500 ended the week up 0.9%, while the TSX ended the week down 0.5%.

There were more reds than greens this week. Energy rose 3.0% this week, while healthcare declined by 3.9%, materials slipped by 2.3%, and consumer discretionary dipped down 2.1%. Consumer discretionary gave up 1.6%, and financials ended the week down 0.4%. Technology and telecommunications ended the week nearly flat. The most heavily traded shares by volume were Suncor Energy, Bombardier Inc, and HEXO Corp.

5 from 5i

Here are five reads we found interesting last week:

• China’s “Leveraged Prosperity” model is doomed, authored by Lynn Parramore of the Institute of New Economic Thinking
• The billionaire tax: the worst tax idea ever, by Aswath Damodaran via his blog Musings on Market
• The vinyl straw: why the vinyl industry is at breaking point, written by Megan Townsend of mixmag.net
• The cross of gold – populism, democratic iterations and the politics of money, by Adam Tooze of AT Chartbook
• The great retail reset, authored by Hazel Sheffield of Institutional Investor

Happy Reading & Stay Safe!

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