Market View

Investors still await more positive news on US-China development. Global indices remained muted this week. The US dollar slipped this week, as gold price rose. A larger-than-expected increase in US crude inventories led to a slip in oil prices. The Canadian dollar was 75.89 cents. U.S. S&P500 was up 0.9% this week and TSX was up 0.7%.

It was a mixed bag this week as well with Energy gaining close to 7%, Consumer Discretionary up 2.4%, and Financials rising 2.0%. Healthcare slipped by 1.1%. Magna International cut its full-year financial outlook after missing quarterly sales estimates. This was attributed to a fall in global automobile production and a labor strike at General Motors. Sales outlook for 2019 was cut to $38.7 – 39.8 billion, from its previous range of $38.9 - $41.1 billion. Canadian Natural Resources posted a better-than-expected quarterly profit, helped by higher production. Canadian Tire Corp missed third-quarter profit estimates, due to higher e-commerce related transportation costs. The most heavily traded shares by volume were Enbridge, Zenabis Global, and Harte Gold.

5 from 5i

Here are five reads we found interesting last week:

-Buying at all-time highs is a good strategy

-Why looking at price-charts doesn’t give you the whole picture

-Election year and Earnings

-11 years to Bitcoin

-Price of data

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Disclosure: The author does not hold positions in any stocks or funds mentioned.