Global equity markets inched up 0.5% last week (up 1.6% in the prior week). January U.S. CPI data is expected this week. As we are expecting record inflation, we believe the S&P 500 will likely trend lower this week amid concerns of faster than expected rate hikes.
Valuations of gold producers were up 2% (down 3% previously) last week; base metal producers were up 4% (down 1%).
Prices of mainstream/popular cryptos increased 15% on average last week, even though the S&P 500 was relatively flat, crypto trading volumes declined, and gold prices increased.
As of February 7, 2022, there are 3,031 retail cannabis stores in Canada, a WoW increase of 14 stores, including 12 in Ontario, two in Alberta, and one closure in B.C.
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Companies Mentioned:
Verde Agritech, Lumina Gold, Rockcliff Metals, SPC Nickel Corp., Giga Metals Corporation, Lion Copper and Gold Corp., Latin Metals Inc., Ion Energy Ltd., Blue Sky Uranium Corp., Monarch Mining Corporation, Equity Metals Corporation, Aurcana Silver Corporation, Blue Lagoon Resources, Kidoz Inc., GlobeX Data Ltd., Lexaria Bioscience Corp., Oculus VisionTech Inc., Eat Well Investment Group, Banxa Holdings Inc. ,CoinSmart Financial Inc., OMID Holdings Inc., THC BioMed Intl Ltd.,