The new trading week began on Monday, October 16^th with the major American markets continuing to defy gravity with their new record highs, while their Canadian counterparts also enjoyed some renewed investor interest to which technical analysts David Tippin & Ron Meisels commented – “The last 2-months have been resolutely bullish but every advance needs a consolidation or pullback period for good health and reinvigoration. Now would be a good time for this.” (For a complete copy of this report please contact Rod.Blake@canaccord.com)

The share price of Bombardier Inc. (BBD.B-T) took flight and soared up by over 15.5^% to $2.78 on the unexpected announcement that giant airplane manufacturer Airbus SE had purchased a 50.1^% interest in Canadian aerospace companies CSeries passenger jet program.

Marijuana stocks dropped in mass after the Toronto Stock Exchange (TSX) warned that Canadian cannabis companies that were doing business in the United States may be delisted for violating American federal marijuana laws.

Glance Technologies (GET-V) shares’ surged up by over 26^% to $0.72 after the cryptocurrency company announced they had an agreement with Euro Asia Pay Holdings to develop an app to help Asian and European visitors to pay North American purchases.

The price of Exelixis (EXEL-Q) stock rose by over 16.4^% to US$28.85 following an encouraging survival rate report for patients using the company’s liver cancer drug.

Tuesday, October 17^th had Harley-Davidson (HOG-N) report another drop in quarterly retail sales as the aging baby boomers seem to be parking their hogs for the last time.

Johnson & Johnson (JNJ-N) shares’ rose by 3.5% to US$140.79 after the giant pharmaceutical company not only beat the streets’ expectations but also raised its full-year forecasts.

The numbers are large but they don’t seem to excite the market as much as the price of Netfix Inc. (NFLX-Q) actually fell by 1.5^% to US$199.41 after the giant streaming media company added another 5-million subscribers in the 3rd-quarter.

Millennial Lithium (ML-T) shares’ surged up by 25^% to $2.45 on Wednesday, October 18^th after rumours circulated that the exploration company might be putting itself on the market.

Canadian Pacific (CP-T) kept chugging along as the country’s oldest railway’s stock rose by 5^% to $220.36 after reporting better than expected 3rd-quarter profit and operating figures.

The price of International Business Machines (IBM-N) stock gained 9^% to US$159.55 in spite of the iconic computer company reporting its 22^nd-consevtutive quarter of declining revenues.

Supervalu Inc. (SVU-N) shares’ fell by 12% to US$17.08 after the giant grocer announced it has bought Associated Grocers of Florida in an all-cash deal of some US$18-million.

Thursday, October 19^th had the Bank of Nova Scotia (BNS-T) announce they were dropping out as one of just five worldwide bans that settle gold bullion trades in the London market.

Sabina Gold & Silver (SBB-T) shares’ gained 6^% to $2.47 after the mineral exploration company released more encouraging drill hole gold assays from its flagship Back River Gold Project in Nunavut, northern Canada.

Apple Inc. (AAPL-Q) shares’ fell by almost 2.5% to US$156.00 on word that sales for their latest iPhone 8 were not meeting the streets’ expectations.

Meanwhile, the price of Adobe Systems (ADBE-Q) stock rose by over 11^% to a record high of US$170.27 after the reproduction company raised its guidance for the rest of this year and for 2018.

Statistics Canada told us on Friday, October 20^th that hurricane related issues helped the country’s consumer price index (CPI) to rise by 0.2^% to September to an annualized 1.6^%.

The Canadian Government’s statistical entity also reported that the country’s retail sales unexpectedly took a 0.3^% drop in August.

Baker Hughes (BHGE-N) reported that the number of active American petroleum drilling rigs dropped by 15-rigs last week to 913-active rigs. In Canada – the number of active rigs fell by 10-rigs to 202 active drilling rigs.

Calgene Corp. (CELG-Q) shares’ fell by almost 11^% to US$121.20 after the pharmaceutical company announced it was abandoning a current test of a drug to treat Crohn’s disease.

During the Week – the Dow Industrials, S&P 500 Index and NASDAQ all reached new respective all-time closing highs of 23,329, 2,575 and 6,629, while the TSX Composite rose to a new 8-month high of 15,857.

Dollarama Inc. (DOL-T) at $142.40, Lundin Mining (LUN-T) at $10.13 and Rogers Communications (RCI-A-T) at $67.97 all reached new TSX 52-week closing highs while Energy Fuels (EFR-T) at $1.70, Storm Resources (SRX-T) at $3.19 and TMAC Resources (TMR-T) at $7.01 all fell to new 52-week trading lows.

For the Week – the Dow Industrials rose by 2.00^% to 23,329, with the S&P 500 Index up by 0.87^% to 2,575 and the NASDAQ Exchange up by 0.35^% to 6,629. In the north – the TSX Composite Index gained 0.32^% to 15,857 while the TSX Venture Exchange lost 0.88^% to 790.

With Commodities – gold bullion lost 1.76^% to US$1,282, with copper higher by 1.28^% to US$3.17, as crude oil climbed by 0.50^% to US$51.99 while natural gas dropped by 0.90^% to US$3.10. Overall, the CRB Spot Commodity Index fell by 0.47% to finish the week at 428.

The Canadian dollar lost 1.18^% against its southern counterpart to end the week at US$0.7924.

And the closely watched CBOE Volatility Index or VIX rose marginally by 0.36-point to finish the week at a slightly more nervous level of 9.97.

And Finally – As the Canadian and American governments try to make their taxation systems more fair and equitable it is of interest to note that according to a recent ‘Who Owns the Wealth in Tax Havens’ study – 1/10^th of the world’s total wealth is held in offshore tax havens.