Market View

Canada enters its final weekend before election day, September 20^th, 2021. TSX futures were down after a drop in oil prices due to a slow recovery in output following hurricanes in the Gulf of Mexico. The US dollar weakened, while gold prices rose. The Canadian dollar was 78.48. U.S. S&P500 ended the week down 0.7%, while the TSX ended the week down 1.1%.

It was a week of more reds than greens. Consumer staples gave up 3.2%, while Healthcare slid by 2.8%, followed by consumer discretionary, which declined 2.2%. Technology slipped by 2.1% and utilities also slid by 1.5%. Energy gained 3.3% this week. The most heavily traded shares by volume were Canadian Natural Resources, Enbridge, and Suncor Energy.

5 from 5i

Here are five reads we found interesting last week:

• Coinbase applies to trade crypto futures in derivatives push, by Olga Kharif of Bloomberg
• Why most gas stations don’t make money from selling gas, by Zachary Crockett of the Hustle
• ‘Quantitative Easing’ isn’t stimulus, and never had been, authored by Ken Fisher of RealClear Markets
• Is it time to get bullish on green bud? Part Deux, written by Jesse Felder of the Felder Report
• How to win any argument over investments, by Charlie Bilello of Compound Advisors

Happy Reading & Stay Safe!

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