Market View

We saw a flurry of headlines this week including hawkish tones from Fed Chair Jerome Powell, retail sales slump, falling jobless claims, and fears of recession. Gold prices rose again this week while oil gained on the potential recovery of demand from China. The Canadian dollar was 73.04 cents USD. The U.S. S&P500 ended the week down 2.7%, while the TSX was down 2.2%.

All sectors ended the week down. Healthcare gave up 6.2%, while consumer staples, energy, and financial sectors slid by 2.0%, each. The most heavily traded shares by volume were First Quantum Minerals, Algonquin Power & Utilities Corp, and Suncor Energy.

5 from 5i

Here are five reads we found interesting last week:

• The causes of and responses to today’s inflation, authored by Joseph Stiglitz and Ira Regmi of the Roosevelt Institute
• SPACs are giving up on finding deals, by Michelle Celarier of Institutional Investor
• The sneaky economics of Ticketmaster, written by Mark Dent of the Hustle
• What surprisingly low November inflation means for 2023, by Matthew Zeitlin of Grid
• How does the Consumer Price Index account for the cost of housing? By David Wessel and Sophia Campbell of Brookings

Happy Reading & Stay Safe!

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