The new trading week began on Monday, March 14^th with investors acutely aware that, after a very scary start to the year, most North American markets were finally trading at 2016 or multi-month highs, and hopeful of course that this recent trend would continue.

And the week started wellwith 3-D Systems (DDD-N) shares’ soared up by over 24.5% to US$14.39 after the 3D printing company reported better than expected 4th-quarter and fiscal 2015 financials.

Fresh Market (TFM-N) shareholders’ were pleased to watch their investment surge up by over 23% to US$28.25 on word the company was being taken private by Apollo Global Management (APO-N) in an all-cash deal of some US$1.36-billion.

Under the heading of ‘Seat Sale!’ – The International Air Transport Association reported that global airfares fell by 4.5% in 2015.

Trading in Valeant Pharmaceuticals (VRX-N) dominated both sides of the border on Tuesday, March 15^th as the giant medicine maker’s share price cratered by over 35.5% to US$33.51 on a much lower than expected outlook for 2016 and a warning that a delay in filing the company’s annual report could lead to a debt default risk.

Conversely, Karnalyte Resources (KRN-T) shares’ soared up by 80% to $2.25 when the emerging potash producer announced it had secured in principle a $700-million financing thru Gujarat State Fertilizers & Chemicals Ltd. (GSFC) to construct Phase I  of the company’s potash mine in Wynyard, Saskatchewan.

Markets generally hate litigation and Cliffs Natural Resources (CLF-N) was no exception as its share price dropped by over 12.5% to US$2.37 on word of a bondholders’ suit over a bond exchange offer the company made in January.

Wednesday, March 16^th had the markets passing time in the morning and then surge ahead after the U.S. Fed held it federal funds rate unchanged in the 0.25% – 0.50%range.

After a very slow 2014 and 2015, TD Securities calculates that gold based Exchange Traded Funds (ETFs) have bought 270-tonnes of gold so far in 2016.

Technical analysts David Tippin & Ron Meisels commented – “Due to the broad-based recovery the markets are overbought and a pullback is very likely needed to digest recent gains. After the pullback meets renewed support, it is likely that major market indices will then mount a concerted effort to reach new highs.” (For a complete copy of this report please contact “rod.blake@canaccord.com”).

Statistics Canada reported that the country’s manufacturing sales rose by a better than expected 2.3% in January to a record $53.1-billion.

Bellatrix Energy (BXE-T) shares’ rose by almost 11% to $1.52 even though the oil & gas company posted a 4^th-quarter loss.

The price of Peabody Energy (BTU-N) plunged by over 45% to US$2.19 after America’s largest coal producer reported that it may have to seek Chapter 11 bankruptcy protection.

TransCanada Corp. (TRP-T) may have been turned back at the American border with their proposed Keystone II pipeline, but it still had eyes on the south as on Thursday, March 17^th the giant Canadian petroleum transportation company announced a cash & debt        US$13-billion takeover of northeastern U.S. based Columbia Pipeline Group (CPGX-N).

FedEx Corp. (FDX-N) shares’ rose by almost 12% to US$17.07 after the giant courier reported better than expected 3rd-qharter financials and better yet – forecast rising earnings for the year ahead.

Friday, March 18^th saw Statistics Canada report that Canadians were shopping again as the country’s retail sales rose in January by a 6-year high of 2.1%.

Stats. Canada also reported that the country’s annual inflation rate eased in February to 1.4%.

BRP Inc. (DOO-T) shares’ surged up by almost 18% to $18.95 after the Ski-Doo manufacturer said its 4^th-quarter loss was mainly due to a mild winter and weak consumer interest in Western Canada.

During the Week – the DJIA and S&P 600 reached a new respective 2016 closing highs of 17,602 and 2,049. To the north, the TSX closed at a 3^1/2-month high of 13,621 and the Venture closed at a 7^1/2-month high of 581. Natural gas rose to a 1-month high of     US$2.01-mmbtus, crude oil hit a 3 1/2-high of US$41.66-a-barrel and the CRB reached a 5^1/2-month high of 400. The Canadian loonie hit 5-month high of US$0.7698 and the VIX fell to a 4^1/2-month low of 13.97.

Belo Sun Mining (BSX-T) at $0.68, First National Financial (FN-T) at $25.80 and Hydro One (H-T) at $24.25 all set new TSX 52-week trading highs while Cardiome Pharma (COM-T) at $4.75, Empire Co. (EMP.A-T) at $22.05 and Torstar Corp. (TS.B-T) at $1.54 all fell to new  52-week trading lows.

For the Week – The Dow Industrials gained 2.26% to 17,602, while the S&P 500 Index rose by 1.34% to 2,049 and the NASDAQ Exchange improved by 1.01% to 4,796. On the Canadian side, the TSX Composite Index eased by 0.18% to 13,497 while the TSX Venture Exchange gained 0.87% to 581.

With commodities – gold bullion lost 0.32% to US$1,255, while copper gained 2.23% to US$2.29, with crude oil up by 2.89% to US$41.25 and natural gas ahead by 3.13% to US$1.98. Overall, the CRB Spot Commodities Index gained 1.27% to end the week at an even 400.

The Canadian dollar rose by 1.65% against its southern neighbour to end finish the week at US$0.7681.

And the closely watched CBOE Volatility Index or VIX fell by 2.53-points to a much calmer level of 13.97.

And Finally – When the European Central Bank (ECB) cut its deposit rate by 10 basis points to -0.4% last week it joined four other countries Denmark, Japan, Sweden and Switzerland, and brought to five the number of jurisdictions that officially now have negative interest rates.