Market View

Canada’s population growth slows in the first quarter of 2025, with almost no growth, marking the sixth consecutive quarter of slower population growth. On the other hand, the U.S. Federal Reserve kept interest rates unchanged in June in the range of 4.25 – 4.5 percent, while keeping a projection for two rate cuts in 2025. The Canadian dollar was 72.85 cents USD. The U.S. S&P 500 ended the week down 0.5%, while the TSX was down 0.2%.

This week had more reds than greens. Consumer discretionary and real estate slid by 1.6% and 1.0%, respectively, while industrials and consumer staples gave up 0.7%, each. Materials and financials ended the week mostly flat, while energy edged up by 2.6% and technology gained 0.3%. The most heavily traded shares by volume were National Bank of Canada (NA), Tourmaline Oil Corp (TOU) and Keyera Corp (KEY).

5 from 5i

Here are five reads we found interesting last week:

• The Pros and Cons of Investing in China, by Amy C. Arnott of Morningstar.
• The Separate + Joint Method: How My Spouse and I Manage Our Money, published by Nick Maggiulli of Of Dollars and Data
• 3 Charts That Will Surprise You, published by Ben Carlson of Ritholtz Wealth Management LLC
• Manage the Noise, written by Barry Ritholtz of Ritholtz Wealth Management LLC
• OpenAI and Microsoft Risk Open War, written by M.G. Siegler of SpyGlass

Happy Reading & Stay Safe!

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