Market View

U.S. inflation accelerates in April amid an ongoing climb in gasoline prices driven by the Iran War. On the other hand, Kevin Warsh is confirmed to become the Federal Reserve chai in a 54-45 Senate vote, the slimmest margin ever for a central bank chief. The Canadian dollar was 72.72 cents USD. The U.S. S&P 500 ended the week up 0.6%, while the TSX was down -1.0%.

It was a mixed week of gains and losses. Materials led the market, jumping 7.0%, while financials and real estate advanced 1.3% and 1.0%, respectively. Consumer discretionary also edged higher, up 0.8%. On the downside, information technology fell sharply, down 4.6%, while energy and consumer staples declined 2.7% and 1.5%, respectively. Industrials also ended the week slightly lower, down 0.6%. The most heavily traded shares by volume were Enbridge (ENB), Manulife Financial Corporation (MFC), and Royal Bank of Canada (RY).

5 from 5i

Here are five reads we found interesting last week:

• The Risk-Wealth Paradox, by Nick Maggiulli of Of Dollars and Data.
• Why AI Chip Designer Cerebras Is 2026’s Hottest IPO Yet, by Morningstar.
• How ASML Took Over the World, by Works in Progress.

• AI Q1 Earnings, by Barry Ritholtz of Ritholtz.

• Is Your Index Fund Really Diversified?, by Morningstar.

  
  

Happy Reading & Stay Safe!

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