Market View

US President Joe Biden will lay out his budget for trillions of dollars in spending on infrastructure, education, and other initiatives today, which will likely be against Republicans who want to tamp down US government spending. Oil prices rose and major North American indices are starting to look past inflationary worries. Gold prices declined slightly as the US dollar edged upwards. The Canadian dollar was 82.77. U.S. S&P500 ended the week up 1.1%, while the TSX ended the week up 1.4%.

It was a week of mostly greens for TSX sectors. Healthcare gained a whopping 11.1% this week following some M&A activity in the cannabis sub-sector. Energy added 1.8%, while technology and financials rose 1.7% and 1.5%, respectively. Consumer staples, REITs, and materials ended the week flat, while utilities declined 0.4%. The most heavily traded shares by volume were Blackberry, Zenabis Global, and Auxly Cannabis.

5 from 5i

Here are five reads we found interesting last week:

• Why do people hate inflation? Published by Noah Smith of Noahpinion
• Most artists are not making money off NFTs and here are some graphs to prove it, by Kimberly Parker
• Everything wrong with the “Money Printer Go Brrrr” meme (US Fed policy), by Cullen Roche of Pragmatic Capitalism
• Why Amazon is paying nearly $9 billion for MGM and James Bond, authored by Peter Kafka of Vox Recode
• The pandemic saved the fast food industry, written by Kara Baskin of Experience Magazine

Bonus

• Inflation is shortages and thankfully transitory, by Seth Levine of the Integrating Investor

ICYMI

• Five things that leave even investing vets shaking their heads in bewilderment, authored by Peter Hodson and published in the Financial Post

Happy Reading & Stay Safe!

Thinking about becoming a 5i Research Member?   If so, no need to wait! Start your free trial today, and see for yourself how 5i Research can help you elevate your Investment Game. 

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