Market View

Canada’s inflation rate unexpectedly held steady at 3.1% in November, giving the central bank reasons to stay hawkish. On the other hand, US durable goods orders jumped 5.4% in November, the largest rebound since July 2020. The Canadian dollar was 73.89 cents USD. The U.S. S&P500 ended the week up 0.8%, while the TSX was up 1.9%.

All but one sector rose this week. Consumer discretionary, energy, and materials added 2.7%, each, while consumer staples and industrials added 2.6% and 2.4%, respectively. Financials edged up 2.2%, and real estate rose 0.5%. Information technology s ended the week slightly down 0.3%. The most heavily traded shares by volume were Prime Mining, Baytex Energy, and Bitfarms.

5 from 5i

Here are five reads we found interesting last week:

•  Confidence Rising In Markets For Rate Cuts In 2024, by James Picerno of The Capital Spectator

• A holly jolly holiday season for initial jobless claims, written and published by The Bonddad Blog

• Where Stocks Look Cheap or Expensive, written and published by Sarah Hansen and Lauren Solberg of Morningstar

• A Short History of Nasdaq 100 Returns, written and published by Ben Carlson of Ritholtz Wealth Management LLC

• We are landing this plane, softly, written and published by Claudia Sahm of Stay-At-Home Macro

Happy Reading & Stay Safe!

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