5 from 5i: Momentum Leads US Equity Factor Returns So Far In 2024

Michael Huynh Jan 26, 2024
Headline image for 5 from 5i: Momentum Leads US Equity Factor Returns So Far In 2024

Market View

The Bank of Canada held its benchmark interest rates unchanged at 5.0 percent, indicating the tightening cycle might have peaked. On the other hand, The US gross domestic product (GDP) slowed to a 3.3% annualized growth in the fourth quarter, compared to the third quarter of around 4.9%, but still a solid number, ahead of the estimate for a 2% gain. The Canadian dollar was 74.30 cents USD. The U.S. S&P500 ended the week up 1.0%, while the TSX was up 0.8%.


All but one sector rose this week. Energy gained 3.1%, while technology edged up 1.4%. Consumer discretionary and materials added 1.2%, each. In addition, financials rose 0.9%, and real estate slightly edged up 0.4%. On the other hand, industrials ended the week flat, while consumer staples dropped slightly 0.3%. The most heavily traded shares by volume were  Royal Bank of Canada, Chartwell Retirement Residences, 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.



Login to post a comment.

No comments have been posted yet.