Market View

The US Federal Reserve held interest rates unchanged in the range of 4.25-4.5 percent while assessing the inflation outlook, which signals a more cautious approach to future rate cuts. On the other hand, the Trump administration announced a 25% tariff on imports from Canada and Mexico and 10% on China’s goods, the policy is expected to take effect as early as March. The Canadian dollar was 69.85 cents USD. The U.S. S&P500 ended the week down 0.4%, while the TSX was down 1.4%.

Most sectors ended the week in red. Energy gave up 2.9%, while consumer discretionary slid 2.6%. Financials and industrials edged lower by 2.1%, each while consumer staples and real estate slipped by 1.6% and 1.2%, respectively. Materials ended the week up 1.1%, while technology gained 0.7%. The most heavily traded shares by volume were BCE Inc (BCE), Celestica (CLS) and Shopify (SHOP).

5 from 5i

Here are five reads we found interesting last week:

• Risks & Opportunities of the New Administration, written by Barry Ritholtz of Ritholtz Wealth Management LLC
• For US Asset Managers, Vanguard Fee Cuts Matter More Than Tariffs, by Greggory Warren of Morningstar
• America still needs Canadian oil. Here’s why, written and published by Material World
• Major Asset Classes Performance Review, January 2025, written by The Capital Spectator
• How Climate Change Could Upend the American Dream, published by Abrahm Lustgarten of ProPublica

Happy Reading & Stay Safe!

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