Market View

 The Bank of Canada announced another 0.25 percent interest rate cut to 2.25 percent, signaling persistent economic weakness. On the other hand, the Federal Reserve delivered the second consecutive interest rate cut to support a softening labor market, while indicating another reduction in December is far from a foregone conclusion. The Canadian dollar was 71.38 cents USD. The U.S. S&P 500 ended the week down 0.2%, while the TSX was down 0.5%.

Most sectors ended the week in red. Real estate gave up 4.0%, while consumer staples slid 3.5%. Industrials and consumer discretionary edged lower by 2.4% and 1.3%, respectively. Financials and materials slipped by 0.2%, each, while energy edged lower by 0.1%. Technology ended the up 0.9%. The most heavily traded shares by volume were Canadian National Railway (CNR), Shopify (SHOP) and Royal Bank of Canada (RY).

5 from 5i

Here are five reads we found interesting last week:

• As Nvidia Crosses $5 Trillion, 5 Charts on the Unstoppable Tech Rally, by Sarah Hansen and Bella Albrecht of Morningstar.
• The Case for a “Good Enough” Portfolio, by Christine Benz of Morningstar.
• Why the AI Spending Spree Could Spell Trouble for Investors, by Larry Swedroe of Morningstar
• What’s Going on With Gold?, published by Nick Maggiulli of Of Dollars and Data
• Staying the Course Worked (Again), published by Ben Carlson of Ritholtz Wealth Management LLC

Happy Reading & Stay Safe!

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