5 from 5i: Interest Rates are no longer interesting

Chris White Nov 29, 2019

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.

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