Market View

The US Consumer Price Index (CPI) increased 2.6% compared to the previous year, meeting economist expectations and keeping the Federal Reserve on track to lower interest rates again in December. On the other hand, the US Producer Price Index (PPI) rose by 2.4% compared to the estimate of 2.3%, indicating a faster pace of price increase in October, but did not point to accelerating inflation yet. The Canadian dollar was 71.28 cents USD. The U.S. S&P500 ended the week down 2.5%, while the TSX was up 0.2%.

It was a mixed week of greens and reds. Technology rose 5.4%, while energy and financials gained 0.8% and 0.1%, respectively. Materials gave up 5.5%, real estate slid by 1.4%, and industrials gave up 1.0%. Consumer discretionary and consumer staples ended the week down 0.7% each. The most heavily traded shares by volume were Tidewater Midstream and Infrastructure, Numinus Wellness, and Manulife Financial Corporation.

5 from 5i

Here are five reads we found interesting last week:

• New All-Time Highs in Everything, by Ben Carlson of Ritholtz Wealth Management LLC
• We’re living in the golden age of gold, written by Luke Kawa of Sherwood News
• The stock market belongs to r/WallStreetBets again, published by Luke Kawa of Sherwood News
• 30% Up Years in the Stock Market, published by Ben Carlson of Ritholtz Wealth Management LLC
• Should You Ever Put More Than 20% Down on a Home?, published by Nick Maggiulli of Of Dollars and Data

Happy Reading & Stay Safe!

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