Market View

The U.S. Consumer Price Index (CPI) ticked slightly higher in June to an annualized basis of 2.7 percent, compared to the consensus estimate of 2.6 percent, driven by a reversal in falling gas prices. On the other hand, the Canadian inflation rate increased 1.9 percent, compared to 1.7 percent in the previous month, leaving little room for the Bank of Canada to cut interest rates on July 30. The Canadian dollar was 72.72 cents USD. The U.S. S&P 500 ended the week up 0.4%, while the TSX was up 0.8%.

A lot more greens this week than reds. Consumer discretionary and industrials gained 1.8% and 1.7%, respectively. Real estate and consumer staples added 1.5%, each, while energy edged up by 0.7%. Financials ended the week up 0.4%. Technology and materials ended the week down 1.7% and 1.6%, respectively. The most heavily traded shares by volume were Alimentation Couche-Tard (ATD), Shopify (SHOP) and Royal Bank of Canada (RY).

5 from 5i

Here are five reads we found interesting last week:

• How Much Should You Have Saved by 30? 40? 50? 60?, published by Ben Carlson of Ritholtz Wealth Management LLC
• Do Individual Investors Need a Reality Check?, by Amy C. Arnott of Morningstar.
• Bad Advice is Everywhere, written by Barry Ritholtz of Ritholtz Wealth Management LLC
• Is This the Worst Decade Ever For Bonds?, written by Ben Carlson of Ritholtz Wealth Management LLC
• Know Why You Own Each of Your Investments, published by Dr. Jim Dahle of The White Coat Investor

Happy Reading & Stay Safe!

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