Market View

All major North American indices closed lower in the past four of five sessions. Britain struck its first post-Brexit trade deal with Japan. European Central Bank and Bank of Canada kept interest rates unchanged. The U.S. dollar slipped. The Canadian dollar was 75.87. U.S. S&P500 was down 2.9% this week and the TSX ended the week down 1.2%.

It was a mixed bag this week with more reds than greens. Energy slid by 10% this week, followed by technology, which was down 4.5%. Consumer discretionary and Healthcare slipped 3.1% and 2.5%, respectively. Consumer staples and industrials held up 0.7%, each. The most heavily traded shares by volume were Freegold Ventures, Teck Resources, and Suncor Energy.

5 from 5i

Here are five reads we found interesting last week:

• The big tech extortion racket, by Barry Lynn on Harper's magazine
• Central bankers need to overhaul outdated thinking on labor markets, by Adam Posen on Nikkei Asian Review
• 8 personal finance lessons from Benjamin Franklin, by Brett & Kate McKay on artofmanliness.com
• All those studies showing endowments lost to 60/40? Cherry-picked data, Academic says, written by Julie Segal of Institutional Investor
• Amazon's profits, AWS, and advertising, by Benedict Evans

Bonus:

• Foreign stocks' lost decade, written by Daniel Sotiroff of Morningstar

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.