Market View
It was another week of selloffs with several indices reverting to 2022 lows. Oil rose as OPEC+ oil producers are considering a substantial oil production cut. The Canadian dollar was 72.83 cents USD. The U.S. S&P500 ended the week down 1.0%, while the TSX ended the week up 0.9%.
The TSX ended the week up on the back of solid performance by the materials, up 7.8%, and energy, up 4.2%, sectors. Healthcare rose 1.8%, while technology gained 1.5%. Consumer discretionary ended the week flat. The most heavily traded shares by volume were Kinross Gold Corp, Yamana Gold, and Barrick Gold Corp.
5 from 5i
Here are five reads we found interesting last week:
- Why fundamentals matter, by Jamie Catherwood of Canvas
- CNBC transcript: Stanley Druckenmiller’s speech
- Predicting the next recession, posted on Calculated Risk
- The Fedconomy, by Kyla Scanlon
- The mysterious ad slump of 2022, authored by Peter Kafka of Vox
Happy Reading & Stay Safe!
Disclosure: The analyst(s) responsible for this report do not have a financial or other interest in securities mentioned.
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