Market View

OPEC producers unexpectedly cut their output target. US Headline inflation slowed to 5.0% year-over-year in March, a full percentage lower than February’s reading and slightly lower than expectations. Bank of Canada maintained policy rate this week while continuing quantitative tightening. The Canadian dollar was 74.82 cents USD. The U.S. S&P500 ended the week up 1.3%, while the TSX was up 2.1%.

All but one sector rose this week. Technology, energy, and materials added 2.8%, each, while financials and industrials added 2.1%, each. Consumer discretionary edged up 2.0%, and real estate rose 1.5%. Consumer staples ended the week flat while healthcare gave up 2.1%. The most heavily traded shares by volume were Cenovus Energy, Royal Bank of Canada, and Canadian Natural Resources.

5 from 5i

Here are five reads we found interesting last week:

• How will AI change investing? By Jeffery Ptak of Morningstar
• Investors sold REITs in response to the banking crisis. They may have overreacted, authored by Hannah Zhang of Institutional Investor
• Not even wrong: predicting tech, written and published by Benedict Evans
• The active management delusion: respect the wisdom of the crowd, by Mark Higgins of CFA Institute
• Ken Fisher’s Pessimism of disbelief, illustrated, published by Fisher Investments Editorial Staff

Happy Reading & Stay Safe!

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