Market View

Canada reported a loss of 66,000 jobs in August as the unemployment rate increased to 7.1 percent. On the other hand, the U.S. inflation rose in August at an annualized pace of 2.9 percent, up from 2.7 percent in the previous month, which marks the biggest increase since January, putting the Federal Reserve in a tough spot as the job market also slows down. The Canadian dollar was 72.30 cents USD. The U.S. S&P 500 ended the week up 0.9%, while the TSX was up 1.3%.

More greens this week than reds. Energy and materials gained 3.5% and 3.1%, respectively. Financials staples added 1.3%, while real estate and consumer discretionary edged up by 0.6% and 0.2%, respectively. Consumer staples edged lower by 2.0%, while technology ended the week down 1.7%, and industrials gave up 0.5%. The most heavily traded shares by volume were Canadian National Railway Company (CNR), Pembina Pipeline Corporation (PPL), and Celestica (CLS).

5 from 5i

Here are five reads we found interesting last week:

• Oracle’s insane cloud infrastructure forecast is giving shades of Nvidia’s data center business, as written by Claire Yubin Oh, David Crowther of Sherwood News
• The Bar Only Gets Higher, published by Nick Maggiulli of Of Dollars and Data
• The Vanguard Experiment Enters a New Era: How the Fund Giant Is Navigating Rapid Growth, by Daniel Sotiroff of Morningstar
• Good for Who?, written by Joe Wiggins of Behavioural Investment
• Managers outperform mid and small cap benchmarks, published by Mark Rzepczynski of Disciplined Systematic Global Macro Views

Happy Reading & Stay Safe!

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