Market View

North American indices saw relief from negative market sentiment after the US reported slower than expected inflation in July (0% month-over-month). Investors now hope that the central banks can be less aggressive in raising interest rates. The US dollar steadied this week, while gold and oil prices fell. The US dollar rose slightly while gold and crude oil prices slipped. The Canadian dollar was 78.24 cents USD. The U.S. S&P500 ended the week up 2.4%, while the TSX ended the week up 2.3%.

All but two sectors swung into positive territory this week. Energy and materials gained 6.8%, and 4.0%, respectively, followed by healthcare at 3.4%, financials at 2.6%, and consumer discretionary at 2.2%. Technology ended the week down 1.0%, and industrials closed flat. The most heavily traded shares by volume were Enbridge Inc, Manulife Financial Corp, and Baytex Energy.

5 from 5i

Here are five reads we found interesting last week:

• These factors outperform when the dollar appreciates, by Hannah Zhang of Institutional Investor
• The reason gas prices are finally plummeting, authored by Nitish Pahwa of Slate
• Reflections on the investing process with Michael Mauboussin, posted by Compound
• Tales from the thrifts, written by Noah Kulwin of the Baffler
• More energy on less land: the drive to shrink solar’s footprint, by Cheryl Katz of Yale School of the Environment

Happy Reading & Stay Safe!

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