Market View

US consumer prices in December rose 3.4%, more than the expectation of 3.2%, as the cost of shelter accounted for most of the increase. On the other hand, the US Securities and Exchange Commission (SEC) approved the launch of 11 bitcoin ETFs, allowing investors to get exposure to the world’s largest cryptocurrency. The Canadian dollar was 74.57 cents USD. The U.S. S&P500 ended the week up 1.5%, while the TSX was up 0.3%.

A lot more greens this week than reds. Technology and financials gained 6.1% and 2.9%, respectively. Consumer discretionary added 2.3%, while consumer staples and real estate edged up by 1.0% and 0.9%, respectively. Industrials gained 0.4%. On the other hand, energy ended the week down 1.1% while materials ended the week flat. The most heavily traded shares by volume were Toronto-Dominion Bank, Fission Uranium, and Bitfarms.

5 from 5i

Here are five reads we found interesting last week:

• 12 Lessons the Market Taught Investors in 2023, written and published by Larry Swedroe of Morningstar.
• Historical U.S. Stock Market Returns Through 2023, written and published by Ben Carlson of Ritholtz Wealth Management LLC.
• CPI Increase is Based on Bad Shelter Data, written and published by Barry Ritholtz of Ritholtz Wealth Management LLC.
• Naysayers Were Wrong About the 60/40 Portfolio. Here’s Why., written and published by Amy C. Arnott of Morningstar.
• Spot Bitcoin ETFs Are Here. Should You Invest?, written and published by Bryan Armour of Morningstar.

Happy Reading & Stay Safe!

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