Market View

The US Federal Reserve raised interest rates by 0.5%, while the 10-year US Treasury yield touched 3.0%. Gold and oil prices rose, while the US dollar steadied after hitting recent highs. The Canadian dollar was 77.62 cents USD. U.S. S&P500 ended the week up 0.5%, while the TSX also ended the week down 0.3%.

It was a roller coaster of a week of all sectors. Energy added another 7.1% this week, while materials gained 1.5%. Technology gave up 4.7%, followed by healthcare and consumer discretionary, which declined by 3.8% and 3.2%, respectively. The most heavily traded shares by volume were Enbridge Inc, Cenovus Energy, and ARC Resources.

5 from 5i

Here are five reads we found interesting last week:

• Money, Commodities, and Bretton Woods III, authored by Zoltan Pozsar of Credit Suisse
• There’s a reason no smart buyer already purchased Twitter, by Siva Vaidhyanathan of Slate
• Anti-quality bubble, written by Matt Wagner of Wisdom Tree
• Have growth stocks bottomed? By John Rekenthaler of Morningstar
• Indian Premier League valuations: Cricket now has a place among world’s most valuable sports teams, by Mike Ozanian of Forbes

Happy Reading & Stay Safe!

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