Market View

The Canadian economy gained more jobs than expected in September as the unemployment rate stayed unchanged at 7.1%, raising questions about the timing of the next rate cut. In addition, the Prime Minister Mark Carney brushed off calls to retaliate against the U.S. over tariffs on some Canadian exports, saying the two were in talks to figure things out. The Canadian dollar was 71.20 cents USD. The U.S. S&P 500 ended the week up 0.5%, while the TSX was down 0.7%.

It was a mixed week of greens and reds. Consumer staples rose 3.3%, while consumer discretionary and materials gained 1.5% and 1.2%, respectively. Industrials edged up by 0.1%. On the other hand, energy slid by 5.6%, while technology and financials gave up 1.1%, each. Real estate ended the week down slightly, 0.2%. The most heavily traded shares by volume were Royal Bank of Canada (RY), Kinross Gold Corporation (K) and Toronto-Dominion Bank (TD). 

5 from 5i

Here are five reads we found interesting last week:

• Why You Don’t Feel Rich, published by Ben Carlson of Ritholtz Wealth Management LLC
• America Is Minting Lots of Cash-Strapped Millionaires, published by Andre Tartar, Ben Steverman and Stephanie Davidson of MSN.
• Wealth for Yourself vs. Wealth for Others, published by Nick Maggiulli of Of Dollars and Data
• What Are Private Market Investments? by Tom Lauricella of Morningstar.
• Why Mortgage Rates Might Not Keep Going Down, by Sarah Hansen of Morningstar.

Happy Reading & Stay Safe!

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