Market View
Canada’s economy shrank 1.6 percent on an annualized basis in the second quarter, more than expected, as the U.S. tariffs have a meaningful impact on exports and business investment. In addition, Canada’s services Purchasing Managers Index (PMI) dipped in August to 48.6, a reading below 50 shows contraction in the sector as uncertainty over the U.S. tariffs showed an effect on export sales and business confidence. The Canadian dollar was 72.26 cents USD. The U.S. S&P 500 ended the week down 0.2%, while the TSX was up 1.1%.
A lot more greens this week than reds. Materials and technology gained 3.8% and 3.2%, respectively. Consumer staples added 2.4%, while financials and consumer discretionary edged up by 0.5%, each. Industrials added 0.2%. On the other hand, energy ended the week down 0.8% while real estate ended the week flat. The most heavily traded shares by volume were Canadian National Railway Company (CNR), Suncor Energy (SU) and Bank of Nova Scotia (BNS).
5 from 5i
Here are five reads we found interesting last week:
- How Consumer Surplus Impacts Pricing Power, published by Todd Wenning of Flyover Stocks.
- Proof of Wealth, published by Nick Maggiulli of Of Dollars and Data
- 30 Years, published by Ben Carlson of Ritholtz Wealth Management LLC
- What Would You Do If You Had a Million Dollars?, written by Ben Carlson of Ritholtz Wealth Management LLC
- Running your own race, published by Callie Cox of OptimistiCallie
Happy Reading & Stay Safe!
Disclosure: The analyst(s) responsible for this report do not have a financial or other interest in securities mentioned.
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