Market View

The number of Americans applying for unemployment benefits declined in the week ending November 22, indicating a sign that overall layoffs remain low, despite several layoff headlines from large companies. On the other hand, Canada’s Prime Minister Mark Carney announced new measures to help steel and lumber producers find fresh markets for their goods within Canada by including quotas on foreign steel entering Canada and promising to trim freight rates for materials crossing provinces by rail. The Canadian dollar was 71.27 cents USD. The U.S. S&P 500 ended the week up 1.1%, while the TSX was up 4.2%.

A lot more greens this week than reds. Materials and technology gained 10.8% and 9.4%, respectively. Consumer discretionary added 4.6%, while financials gained 2.9%. Consumer staples and industrials edged up by 2.7%, each. Real estate gained 1.7%, while energy ended the week down 0.7%. The most heavily traded shares by volume were Great-West Lifeco (GWO), Bank of Nova Scotia (BNS) and Suncor Energy (SU).

5 from 5i

Here are five reads we found interesting last week:

• P/E has Gone Nowhere In 2025, written by Matt Cerminaro of Chart Kid Matt

• Rational Exuberance?, written by Barry Ritholtz of Ritholtz Wealth Management LLC

• Do We Need a Long Bear Market?, published by Ben Carlson of Ritholtz Wealth Management LLC
• How Can Investors “Follow the Evidence”?, published by Joe Wiggins of Behavioural Investment
• Investors Beware: Bull Markets Don’t Last Forever, by Larry Swedroe of Morningstar.

Happy Reading & Stay Safe!

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