Market View

Oil prices are under pressure as US data reveal more than 10 million barrels weekly rise in gasoline supplies. On the other hand, The US economy added 216,000 jobs in December, surprising Wall Street, which most economists expected around 175,000, impacting the Fed’s timeline for cutting rates. The Canadian dollar was 74.92 cents USD. The U.S. S&P500 ended the week down 1.7%, while the TSX was slightly up 0.1%.

This week had more reds than green. Technology slid by 3.4%, while consumer discretionary gave up 1.8%. Materials and real estate slid 1.5% and 1.3%, respectively. Financials and industrials both declined 0.1%. Energy gained 3.6%, while consumer staples ended the week up 0.3%. The most heavily traded shares by volume were Toronto-Dominion Bank, Cenovus Energy, and Bitfarms.

5 from 5i

Here are five reads we found interesting last week:

•  10 Predictions for 2024, written and published by Michael Batnick of Ritholtz Wealth Management LLC

• 24 Rules for 2024, written and published by Jonathan Clements of HumbleDollar

• Investing in Middle Age, published by Ben Carlson of Ritholtz Wealth Management LLC

• Costco’s Counterintuitive (But Profitable) Approach to Shareholders, written by Kingswell Substack

• What Comes After a Good Year in the Stock Market?, written by Ben Carlson of Ritholtz Wealth Management LLC

Happy Reading & Stay Safe!

Disclosure: The analyst(s) responsible for this report do not have a financial or other interest in securities mentioned.