5 from 5i: Small Wins Can Add Up to Long-Term Investing Success. Just Ask Roger Federer

Michael Huynh Nov 01, 2024
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Market View

Oil prices plummeted to below $70 at the end of October as Israeli retaliatory strike against Iran’s oil infrastructure, indicating oil prices may continue to experience volatility in the near term. On the other hand, the US economy grew at a slower pace in the third quarter at a 2.8% annualized rate, slightly lower than economists had forecast, indicating consumers have kept spending at a robust pace as inflation continues to fall. The Canadian dollar was 71.89 cents USD. The U.S. S&P500 ended the week down 1.8%, while the TSX was down 1.6%.

Most sectors ended the week in red. Energy and real estate gave up 2.6% each, while information technology slid 2.4%. Materials and consumer discretionary edged lower by 2.2% and 1.9%, respectively, while financials slipped 1.2%. Industrials ended the week slightly down 0.6%, while consumer staples gained 0.5%. The most heavily traded shares by volume were Veren, Cenovus Energy, and Lundin Mining.

5 from 5i

Here are five reads we found interesting last week:

Happy Reading & Stay Safe!

 


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

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