Market View

Canada’s economy slowed in the third quarter even as domestic demand on business investment and housing jumps. Annualized GDP slowed to a 1.3% pace, vs 3.5% in the second quarter. Trump signed the Hong Kong bill backing protestors. Investors worry about China hitting back. Russian oil companies proposed unchanged output quotas putting pressure on OPEC+. The OPEC nations are due to discuss an agreement on Dec 5-6. The US dollar remained unchanged, while gold and oil slipped. The Canadian dollar was 75.12 cents. U.S. S&P500 was up 1.1% this week and TSX was up 0.6%.

Consumer Staples jumped by 3.1%, the highest this week, while Consumer Discretionary grew 2.6%. Healthcare and Industrials grew by 2.0% and 1.3%, respectively. Bank of Nova Scotia posted a 1.6% increase in quarterly profit, as net income in Canadian banking business grew 2.5%. Alimentation Couche-Tard put forward an A$8.61 billion offer for Caltex, after Caltex announced it would sell some of its convenience shop sites. The offer represented a 7% increase to the previous offer ATDb had put forward. Kirkland Lake Gold announced the purchase of Detour Gold for C$4.89 billion in an all-stock deal. The most heavily traded shares by volume were Husky Energy, Aurora Cannabis, and Zenabis Global.

5 from 5i

Here are five reads we found interesting last week:

-Interest Rates are no longer interesting

-Market melt-up and it's potential

-Two amazing facts about Finance

-Major Financial mistakes in divorce

-Know when to adjust your portfolio

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Disclosure: The author does not hold positions in any stocks or funds mentioned.