Market View

The U.S. Consumer Price Index (CPI) came in better than expected, reporting an annualized rate of 2.7 percent compared to expectations of 3.1 per cent, the lowest level since early 2021. On the other hand, the Bank of England cut its key interest rate from 4 percent to 3.75 percent, the first cut in four months, as inflation has started to ease. The Canadian dollar was 72.6 cents USD. The U.S. S&P 500 ended the week down 0.4%, while the TSX was up 0.7%.

A lot more greens this week than reds. Materials and real estate gained 2.6% and 2.2%, respectively. Consumer staples and consumer discretionary added 1.5%, each, while financials and industrials edged up by 0.9% and 0.5%, respectively. On the other hand, energy gave up 4.0%, while technology ended the week down 0.5%. The most heavily traded shares by volume were Toronto-Dominion Bank (TD), Royal Bank of Canada (RY), and Shopify (SHOP).

5 from 5i

Here are five reads we found interesting last week:

• Inflation is Not Going Back, published and written by Ben Carlson of Ritholtz Wealth Management LLC 
• When AI Comes To Town, as written by Jon Keegan of Sherwood News
• How to Become a Moderate Millionaire, written by Ben Carlson of Ritholtz Wealth Management LLC
• The Best Hedge, published by Ben Carlson of Ritholtz Wealth Management LLC
• Why Did You Buy That Stock?, published by Joe Wiggins of Behavioural Investment

Happy Reading & Stay Safe!

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