The new North American trading week began on Monday, May 14^th with investors encouraged that all of the major markets had finished the previous week in the black. To which technical analysts David Tippin & Ron Meisels commented – “The bulls are moving back in control of the markets and a major new up leg has started.” (For a complete copy of this report please contact Rod.Blake@canaccord.com.)

The marijuana space came to life on the news that Aurora Cannabis ‘ACB-T’ was taking over fellow grower MedReleaf Corp. ‘LEAF-T’ in an all-stock deal valued at some $3.2-billion.

Meanwhile, the largest Canadian player in the sector, Canopy Growth ‘WEED-T’ announced it expected to be listed on the New York Stock Exchange (NYSE) by the end of May with a trading symbol of ‘CGC-N’.

Badger Daylighting ‘BAD-T’ shares’ rose by over 3.5^% to $27.65 after the specialty ground boring company impressed the street with its 1^st-quarter financials.

Tuesday, May 15^th had the Canadian Real Estate Association report that the average price of a Canadian home fell by 11.3^% in the past year to April to just over$495,000.

The World Gold Council reported that global gold demand for the first 1^st-quarter was a      10-year low of 973-tonnes.

Osisko Mining ‘OSK-T’ shares’ plunged by over 25^% to $2.02 when the company’s newly updated mineral resource estimate for its Windfall Lake gold project in Quebec failed to meet the market’s expectations.

ProMetic Life Sciences ‘PLI-T’ shares’ fell by over 5^% to $0.71 on Wednesday, May 16^th after the pharma company indicated it was lowering its R&D spending in the quarter ahead.

Abaxis Inc. ‘ABAX-Q’ stock rose by over 16^% to US$83.34 after the healthcare company agreed to a US$1.8-billion cash & debt takeover by Zoetis Inc.

Thursday, May 17^th had pipeline giant Enbridge Inc. ‘ENB-T’ announce it was simplifying its corporate structure by absorbing all of its subsidiaries into the parent company in an all-stock deal of some $11.4-billion.

Walmart Canada ‘WMT-N’ announced that its gains in its grocery business helped to drive same-store sales up by 2.6^% in the 1^st-quarter.

Statistics Canada announced on Friday, May 18^th that the country’s annual inflation rate rose by 2.2^% in the past year to April.

Much of the rise in inflation may be attributed to fuel costs as Statistic Canada also reported that the price of gasoline rose by 14.2^% year-over-year to April.

And Stats. Can. also reported that the country’s retail sales rose in March by a better than expected 0.6^%.

The Canadian markets traded very quietly going into the Victoria Day long weekend.

During the Week – The TSX Composite Index rose to a 3½-month high of 16,162, as crude oil climbed to a new 3½-year high of US$71.54-a-barrel while the price of lumber rose to a new all-time high of US$627.70/mbf.

Canadian REIT ‘REF.UN-T’ at $52.39, Magna International ‘MG-T’ at $84.59 and Methanex Corp. $91.38 all climbed to new TSX 52-week trading highs while Atco Ltd. ‘ACO.Y-T’ at $38.50, Magellan Aerospace ‘MAL-T’ at $16.53 and Thomson Reuters ‘TRI-T’ at $46.69 all fell to new 52-week trading lows.

For the Week – the Dow Industrials fell by 0.47^% to 24,715, with the S&P 500 off by 0.55^% to 2,713 and the NASDAQ down by 0.66^% to 7,354. Across the line – the TSX Composite gained 1.12^% to 16,162 and the TSX Venture was up by 0.38^% to 786.

With Commodities – gold bullion lost 2.20^% to US$1,292, with copper off by 1.61^% to US$3.06 as crude oil dropped by 1.00^% to US$71.39 while natural gas gained 1.41^% to US$2.87. Overall – the CRB Spot Commodity Index was lower by 0.22^% to end the week at 442.

The Canadian dollar dropped by 0.70^% against its southern neighbour to finish the week at US$0.7762.

And the closely watched CBOE Volatility Index or VIX rose by o.75-point to end the week at a little more nervous level of 13.40.

And Finally – The annual charity action to have a private lunch with market icon Warren Buffet will begin on May 27^th and end on June 1^st. And if you’re thinking on bidding – be advised that last year’s winner paid a tidy sum US$2,679,001 for the privilege of inviting 7-friend to dine with the world’s foremost investor.