Market View

Major US indices rose after upbeat quarterly results from Johnson & Johnson, Harley Davidson, and Intel. European Central Bank continued the dovish stance by pledging continued monetary support, which lifted riskier equities. Gold traded range-bound this week as the US dollar strengthened. Oil prices remain unchanged as supply is expected to remain tight while demand recovers. The Canadian dollar was 79.49. U.S. S&P500 ended the week up 2.5%, while the TSX ended the week up 1.7%.

It was a week of mixed returns this week. Technology added 5.6%, while consumer discretionary gained 2.7%. Energy inched up 2.7% as well, while financial and healthcare both ended the week up 0.7%. Telecommunications slid 1.2%, while consumer staples ended the week flat. The most heavily traded shares by volume were Royal Bank of Canada, MEG Energy, and Bank of Montreal.

5 from 5i

Here are five reads we found interesting last week:

• Where (and Why) economics went wrong, posted on EconPwr
• Learning from bad inflation takes, posted by Cullen Roche of Pragmatic Capitalism
• Move over private equity: Trading platforms are helping investors tap pre-IPO companies, by Alicia McElhaney of Institutional Investor
• Are American companies better than European ones? Published by Albert Bridge Capital
• Bringing the Metaverse & NFTs back to earth, by Seth Levine of The Integrating Investor

Happy Reading & Stay Safe!

Disclosure: Please note that the author does not hold a financial or other interest in stocks or funds mentioned.