Market View

US job growth accelerated in September, adding 119,000 jobs, but the unemployment rose to 4.4 percent, which suggests the labor market condition continued to remain sluggish. On the other hand, Bitcoin has shed around a quarter of its value and on track for its worst monthly performance since 2022. The Canadian dollar was 70.77 cents USD. The U.S. S&P 500 ended the week down 2.3%, while the TSX was down 1.3%.

It was a mixed week of greens and reds. Consumer staples rose 2.4%, while consumer discretionary and energy gained 0.1%, each. Technology and materials edged lower by 3.8% and 3.6%, respectively. Industrials slid by 1.8%, while real estate gave up 1.0%. Financials ended the week slightly down 0.1%. The most heavily traded shares by volume were Sun Life Financial (SLF), Celestica (CLS) and Enbridge (ENB).

5 from 5i

Here are five reads we found interesting last week:

• Bitcoin suffering “Painvember” as bitcoin ETFs suffer $1.1 billion in outflows, as written by Jon Keegan of Sherwood News. 
• 10 Things We Can Learn From Warren Buffet That Have Nothing to Do With Money, by Dan Lefkovitz of Morningstar.
• How the Line Between Active and Passive ETFs Is Blurring, by Daniel Sotiroff of Morningstar.
• The One Thing My Worst Investments Had in Common, published by Nick Maggiulli of Of Dollars and Data
• But We Are Long-Term Investors, written and published by Ian Cassel of MicroCapClub

Happy Reading & Stay Safe!

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