Market View

Canada’s annual inflation edged down to an annualized rate of 1.9 percent, below the Bank of Canada target of 2 percent, making the case for a more gradual approach to monetary policy going forward. On the other hand, the U.S. Federal Reserve lowered interest rates by 25 basis points to the range of 4.25 – 4.5 percent, also signalling a more cautious approach towards future rate cuts in 2025. The Canadian dollar was 69.54 cents USD. The U.S. S&P500 ended the week down 1.4%, while the TSX was down 2.4%.

Most sectors ended the week in red. Energy gave up 4.3%, while materials and technology slid 4.0% and 3.0%, respectively. Real estate edged lower by 2.3%, while industrials slipped 1.4%. Financials and consumer discretionary slid 1.3%, each. Consumer staples ended the week down 1.1%. The most heavily traded shares by volume were Star Diamon Corporation, WonderFi Technologies, and Air Canada.

5 from 5i

Here are five reads we found interesting last week:

• Don’t Take The Market Personally, written by Ben Carlson of Ritholtz Wealth Management LLC
• The Trouble with US Equity Exceptionalism, published by Joe Wiggins of Behavioural Investment
• Americans love cheap things but hate cheap stocks, written by Luke Kawa of Sherwood News
• The European malaise, published by Scott Sumner of The Pursuit of Happiness
• All that Really Matters – Time, Consistency, Paranoia and Sanity, published by Callie Cox of OptimistiCallie

Happy Reading & Stay Safe!

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