Market View

As per Statistics Canada, Canada lost 17,000 jobs in May. It was the first time in eight months that there was a net job loss. The unemployment rate has risen to 5.2 per cent. Bank of Canada increased policy rate by a quarter percent to 4.75%. The Canadian dollar was 74.93 cents USD. The U.S. S&P500 ended the week up 0.4%, while the TSX was down 0.8%.

It was a week of mostly reds. Healthcare slid the most at 5.7%. Consumer staples declined by 3.8%, while industrials gave up 2.3%. Materials, energy, and consumer discretionary ended the week relatively flat. The most heavily traded shares by volume were Canadian Natural Resources, Suncor Energy, and Orea Mining.

5 from 5i

Here are five reads we found interesting last week:

• Should you worry about recession risk? By Cullen Roche of Discipline Funds
• Are international stocks worth the bother? Authored by Christine Benz of Morningstar
• SEC and Crypto, by Whizy Kim of Vox
• There’s no easy exit for companies backed by PE and VC, written by Michelle Celarier of Institutional Investor
• Five successful Chinese companies you’ve never heard of, by Yi-Ling Liu of Rest of World

Happy Reading & Stay Safe!

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