Market View

US stocks, along with Bitcoin, surged after Donald Trump’s victory in the presidential election, becoming the 47^th president of the US. The US Federal Reserve cut interest rates by 25 basis points to a new range of 4.5%-4.75% as expected, following a half-percentage point reduction in September that kicked off the easing cycle. The Canadian dollar was 72.21 cents USD. The U.S. S&P500 ended the week up 4.4%, while the TSX was up 2.6%.

A lot more greens this week than reds. Technology gained 6.5%, while consumer staples and financials gained 3.8% and 3.6%, respectively. Industrials added 3.2%, while consumer discretionary and energy edged up 2.3%, each. Materials edged down 0.3%, while real estate ended the week flat. The most heavily traded shares by volume were Tourmaline Oil Corp, BCE Inc. and Superior Plus Corp.

5 from 5i

Here are five reads we found interesting last week:

• When Did this Bull Market Start?, published by Nick Maggiulli of Of Dollars and Data
• 1999 vs. 2024, published by Ben Carlson of Ritholtz Wealth Management LLC
• The Curse of Early Success, by Ben Carlson of Ritholtz Wealth Management LLC
• Cinnamon, Sharpies, and the 1990s: Brian Niccol’s plan to save Starbucks, written by Max Knoblauch of Sherwood News
• Some Things I Don’t Believe About Investing, 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.