Market View

The Bank of Canada cuts its benchmark interest rates by another 0.5 percent, the second large-sized cut in a row that was widely expected, bringing the interest rate to 3.25 percent. On the other hand, the US Consumer Price Index (CPI) rose at an annualized rate of 2.7% in November, up from 2.6% in October, indicating some price pressures remain elevated. The Canadian dollar was 70.47 cents USD. The U.S. S&P500 ended the week down 0.2%, while the TSX was down 1.1%.

Most sectors ended the week in red. Energy gave up 2.2%, while industrial and real estate slid 2.0% and 1.3%, respectively. Financials edged lower by 0.4%, while consumer discretionary slipped 0.1%. Consumer staples ended the week flat, materials gained 0.6%, while technology edged up 0.3%. The most heavily traded shares by volume were Hut 8 Corp, Bitfarms, and TELUS.

5 from 5i

Here are five reads we found interesting last week:

• My Year-End Stock Market Forecast, written by Ben Carlson of Ritholtz Wealth Management LLC
• My Favorite Investment Writing of 2024, published by Nick Maggiulli of Of Dollars and Data
• Markets have soared in 2024, but some stocks missed the memo. Meet the Biggest Losers, written by David Crowther of Sherwood News
• Do We Have Enough Financial Advisors to Handle $80 Trillion?, published by Ben Carlson of Ritholtz Wealth Management LLC
• 7 Lessons From 2024, written by Charlie Bilello of Bilello Blog

Happy Reading & Stay Safe!

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