5 from 5i: Donít Rule Out Tax-Loss Selling as 2023 Winds Down

Michael Huynh Nov 24, 2023
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Market View

Canada’s inflation rate cools to 3.1%, compared to 3.2% expected, due to favourable gas prices, reinforcing the expectations that the interest rate hikes are done. On the other hand, the leaders of the OPEC+ alliance, Saudi Arabia and Russia, are still largely expected to extend output curbs to shore up oil prices. The Canadian dollar was 73.43 cents USD. The U.S. S&P500 ended the week up 1.1%, while the TSX was down 0.2%.

 

It was a mixed week of greens and reds. Materials rose 1.1%, while technology and real estate gained 0.7% each and Consumer staples gained 0.3%. Energy slid by 2.2%, while consumer discretionary gave up 2.0%. Industrials and Financials ended the week down 0.5% and 0.4%, respectively. The most heavily traded shares by volume were Great-West Lifeco, Baytex Energy, and Bitfarms.

 

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.

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