Amazon: The Last Time It Was $88 (6 min read)

Shares of Amazon traded around $88 on Wednesday, which was not seen even during the lows of the pandemic. The last time it traded at this price was almost 4 years ago in March 2019. This led to some investors questioning where it will go from here. Given the technical weakness and worsening fears about inflation and rate hikes, the author of this article believes it will slide further into the $70 range before the bullish sentiment returns.

Carvana shares tank as bankruptcy concerns grow for used car retailer (3 min read)

Carvana’s largest creditors signed a deal binding them to act together in negotiations with the company. The deal was viewed as a way to streamline negotiations around debt restructuring which raised the concern that bankruptcy is becoming more likely. Carvana stocks dropped more than 40% on Wednesday and was briefly halted after it fell below $5 for the first time since going public. Many analysts downgraded the stock and its price target after the news.

Oil gives up the year's gains, closing at 2022 low (3 min read)
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The price of oil dropped below $73 a barrel on Wednesday, its lowest level this year. It surged to almost $140 a barrel in March after the war between Russia and Ukraine took off but has since erased all the gains. As the world’s largest crude importer, China easing their Covid lockdowns should have been a supportive backdrop for oil prices. However, it traded even lower on Wednesday after data showed a bigger than expected increase in US fuel stocks.

Bank of Canada increases rates by 50 bps, says hikes may be over (1 min read)
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The Bank of Canada hiked its benchmark rate by another 50 basis points to 4.25%. The key rate was raised seven times for a total of 4% this year and it is currently at the highest level since early 2008. While the increase was higher than what the markets were expecting, the central bank softened its tone about future rate hikes. It eliminated the forward guidance it has used previously and said it will be considering if further rate increases are necessary.

BlackRock Singles Out Health Care as Its ‘Largest Overweight’ Position (2 min read)
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BlackRock recently said healthcare is a resilient sector with a lot of growth potential, and it is their single largest overweight position. They believe healthcare will continue to grow due to innovation across genomics, immunology and neurology fields. The First Trust Nasdaq Pharmaceuticals ETF (FTXH) is the best-performing healthcare ETF this year with a 4.77% return. Blackrock also see neuroscience having a similar potential and highlighted the iShares Neuroscience and Healthcare ETF (IBRN) as a way to capture that niche sector.

Are Alternative Investments Good For Retail Investors? (7 min read)

Alternative investments have become easier to access in recent years through the use of mutual funds and ETFs. There are different types of alternative investments and choosing the right one may help diversify your portfolio. For example, private equity funds are typically uncorrelated to stocks and tend to outperform in the long-term. Long-short fund, however, is a type of hedge fund trading strategy and may not benefit your portfolio as much.

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Thanks,
Thomas

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