5 from 5i: Returns are in the eye of the beholder

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Market View

China posted a 17-year low industrial output for the month of May. Two oil tankers were attacked in the Gulf of Oman. US blames Iran for the attack. International Energy Agency cut 2019 estimate for oil demand growth on global trade worries. Broadcom’s warning of a slowdown in chip demand hurt technology shares. Policymakers at the Federal Reserve may signal plans to cut interest rates for the first time in a decade in a meeting next week. Gold irked higher surpassing the key $1,350 level for the first time since April last year. The Canadian dollar was 74.81 cents. U.S. S&P500 ended the week flat and TSX was up 0.1%.

This week was a mix of reds and greens. Consumer discretionary jumped the highest by 4.2%, followed by Materials that jumped by 3.4%. Telecommunications slid the most by 2.5%, followed by energy which slipped by 0.2%. Dollarama Inc beat quarterly same-store sales estimates, making a strong rebound. Company raised its full-year comparable sales forecast as total sales rose 9.5% to $828 million, compared to a year earlier. Hudson’s Bay Co reported a wider-than-expected loss as it closed some stores. Management announced it is evaluating a $1.74 billion go-private cash offer from its Executive Chairman Richard Baker and other shareholders. TD Securities raised price target on Enghouse Systems to $47 from $45 due to the company’s two recent acquisitions of Vidyo and Espial. The most heavily traded shares by volume were Stornoway Diamond Corporation, Encana and Sherritt International.

5 from 5i

Here are five reads we found interesting last week:

-Returns are in the eye of the beholder

-Damodaran’s take on BYND valuations

-A look at treasury market inflation

-What 10 years can do to your returns

-The Online Mattress sales trend


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