Market View

Oil prices soared above $100 as Saudi Arabia joined other major Middle East oil producers in cutting output amid the Iran war, as a result, G7 countries are set to discuss a possible joint release of emergency oil reserves as the Middle East war chokes oil supplies from the region, sending prices soaring. On the other hand, U.S. inflation slowed in February as the Consumer Price Index (CPI) came in at 2.8 percent year-over-year, below expectations of 2.9 percent, suggesting that price pressures had already eased before the Iran war. The Canadian dollar was 72.83 cents USD. The U.S. S&P 500 ended the week down 0.8%, while the TSX was down 0.3%.

It was a mixed week of gains and losses. Energy led the market, rising 3.3%, while real estate and consumer staples advanced 1.1% and 0.6%, respectively. On the downside, information technology fell 3.3%, and industrials declined 2.0%. Materials also moved lower, down 1.6%, while consumer discretionary and financials slipped 1.1% and 0.4%, respectively. The most heavily traded shares by volume were Cameco Corporation (CCO), Canadian Natural Resources (CNQ), and Royal Bank of Canada (RY).

5 from 5i

Here are five reads we found interesting last week:

• Avoid Tax Derangement Syndrome, by Jim Dahle of White Coat Investor.
• How to Use Money Market Funds in Your Portfolio, byAmy C. Arnott of Morningstar.
• Are Your Beliefs Assets or Liabilities?, by Nick Maggiulli of Of Dollars and Data.
• The Debt Beneath the Dream, by Om Malik of Om.co.
• The Value of Bad News, by Matt of Chart Kid Matt.

Happy Reading & Stay Safe!

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