Market View

Canada’s services economy expanded for a second straight month in November as the Purchase Manager Index (PMI) rose to a 19-month high in November to 51.5, the highest level since May 2022. On the other hand, real estate brokerage firm Royal Lepage anticipates a recovery in the Canadian real estate market, expecting home prices to rise by around 6% annually in all markets by the end of 2025. The Canadian dollar was 71.17 cents USD. The U.S. S&P500 ended the week up 1.2%, while the TSX was up 0.6%.

A lot more greens this week than reds. Consumer staples and technology gained 2.6% and 1.4%, respectively. Materials added 1.1%, while industrial financials edged up by 0.6%, each. Consumer discretionary ended the week flat, while energy and real estate edged lower by 1.7% and 0.4%, respectively. The most heavily traded shares by volume were Suncor Energy, Bitfarms, and Toronto-Dominion Bank.

5 from 5i

Here are five reads we found interesting last week:

• U.S. Markets Are Swallowing the Rest of the World, written by Ben Carlson of Ritholtz Wealth Management LLC
• Now Do Japan, published by Nick Maggiulli of Of Dollars and Data
• Do We Need More Bubbles?, published by Ben Carlson of Ritholtz Wealth Management LLC
• Major Asset Classes Performance Review, written by The Capital Spectator
• The Endowment Syndrome: Why Elite Funds Are Falling Behind, written by Richards M. Ennis, CFA of Enterprising Investor, CFA Institute.

Happy Reading & Stay Safe!

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