Market View

The Bank of Canada holds interest rate unchanged at 2.25 percent, a move widely expected by economists amid improving economic indicators. On the other hand, the Federal Reserve announced an interest rate cut by a quarter percentage point for the third time this year to a range of 3.5 to 3.75 percent, while maintain its outlook for one cut in 2026. The Canadian dollar was 72.6 cents USD. The U.S. S&P 500 ended the week down 0.5%, while the TSX was up 0.4%.

It was a mixed week of greens and reds. Materials rose 3.1%, while financials gained 1.4%. Real estate and industrials edged up by 0.4%, each. On the other hand, technology edged lower 3.5%. Energy and consumer staples gave up 2.5% and 2.1%, respectively, while consumer discretionary ended the week slightly down 0.3%. The most heavily traded shares by volume were Toronto-Dominion Bank (TD), Royal Bank of Canada (RY), and Celestica (CLS).

5 from 5i

Here are five reads we found interesting last week:

• Investing for the Long-Term, written by Ben Carlson of Ritholtz Wealth Management LLC
• Apple’s stock is behaving differently from the rest of BATMMAAN because of its AI strategy is nowhere, as written by David Crowther of Sherwood News
• The Housing Affordability Crisis, published by Ben Carlson of Ritholtz Wealth Management LLC
• Boring Investing Still Works, published and written by Ben Carlson of Ritholtz Wealth Management LLC
• Index Fund Bubble, published by Adam M. Grossman of Humble Dollar

Happy Reading & Stay Safe!

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