5 from 5i: Where is This Rally Going?

Michael Huynh Nov 03, 2023
Headline image for 5 from 5i: Where is This Rally Going?

Market View

The Federal Reserve kept interest rates unchanged at 5.25%, in line with expectations, leading to a significant rise in the equities markets. On the other hand, Canada’s unemployment rate in October rose to 5.7%, indicating a more challenging job market in an economy weighed down by high interest rates. The Canadian dollar was 73.21 cents USD. The U.S. S&P500 ended the week up 5.5%, while the TSX was up 5.6%.


All but one sector rose strongly this week. Information technology and real estate added 11.1% and 10.3%, respectively, while financials added 6.9%. Consumer staples edged up 6.4% and consumer discretionary rose 5.5%. Energy ended the week up 2.4% while materials gave up 2.3%. The most heavily traded shares by volume were Canopy Growth Corporation, Baytex Energy, and First Quantum Minerals.


5 from 5i

Here are five reads we found interesting last week:

Happy Reading & Stay Safe!


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



Login to post a comment.

No comments have been posted yet.