Market View

The US GDP accelerated in the third quarter, growing at the fastest pace in two years, with a 4.9% annualized rate compared to the 4.5% expected, fueled by a big burst of consumer spending and defied expectations of a slowdown. The Bank of Canada held interest rates unchanged at 5%, indicating the economy is not overheated anymore, but left the door open for more rate hikes if necessary. The Canadian dollar was 72.10 cents USD. The U.S. S&P500 ended the week down 1.8%, while the TSX was down 1.5%.

Most sectors ended the week in red. Technology gave up 4.5%, while energy slid 2.7%. Materials edged lower by 2.4%, while industrials slipped 2.0%. Real estate dropped by 1.5% while consumer discretionary declined by 1.1%. Consumer discretionary ended the week slightly down 0.3%. The most heavily traded shares by volume were Corus Entertainment, Baytex Energy, and Dye & Durham.

5 from 5i

Here are five reads we found interesting last week:

• Will The “Last Mile” Of Inflation Be The Hardest? Three Reasons Why It May Not, written and published by Mike Konczal of Rortybomb

• Is the 60/40 Portfolio a Good Investment Now?, by Jason Kephart of Morningstar

• Mind the Gap: The Risks of Missing Moat, Management or Valuation, authored by Todd Wenning of Flyover Stocks

• How Much Time Is Needed For Stocks to Outperform Bonds?, written and published by Jesse Cramer of The Best Interest

• Why Aren’t Stocks Down More?, written and published by Michael Batnick of Ritholtz Wealth Management LLC

Happy Reading & Stay Safe!

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