Market View

Major index futures rose today after indices tumbled yesterday as a potential second wave of coronavirus infections made investors nervous. Fed’s cautious comments didn’t help either. Gold prices rose while the US dollar remained unchanged. The Canadian dollar was 73.79 cents. U.S. S&P500 was down 4.8% this week and the TSX ended the week down 4.7%.

Stocks saw their worst day this week since March. Energy slipped 11% this week, followed by financials and consumer discretionary at -5.4% and -5.0%, respectively. Utilities slipped 4.6%, telecommunications 4.1%, and materials fell 3.5%. The most heavily traded shares by volume were HEXO Corp, Air Canada, and Baytex Energy.

5 from 5i

Here are five reads we found interesting last week:

• Risk/reward in the stock market: Three body problems and Hic Sunt Leones, written by Gavin Baker on Medium.com
• It’s active management’s time to shine. Has it? By Julie Segal, published on the Institutional Investor website
• Virus toll in Canada’s biggest cities means recovery lags US, written by Shelly Hagan of BNN Bloomberg
• TikTok is having a monster 2020, by Casey Newton and published on the Verge website
• Grubhub expected to reach deal with European food delivery company Just Eat Takeaway today, published by Alex Sherman and Lauren Feiner of CNBC

Happy Reading & Stay Safe!

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Disclosure: Please note that the author does not hold a financial or other interest stocks or funds mentioned.