5 from 5i: Inflection points and earnings pessimism

Barkha Rani Feb 03, 2023
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Market View

US Federal Reserve raised its benchmark rate by a quarter of a point this week as expected. Slightly dovish tone set up a market rally seen over the past two sessions. Gold prices maintained a steady range while the US dollar edged lower. The Canadian dollar was 74.69 cents USD. The U.S. S&P500 ended the week up 2.2%, while the TSX was up 0.5%.

Another mostly green sector performance with technology gaining 4.4%, followed by consumer discretionary and industrials adding 2.9% and 2.4%, respectively. Financials edged up by 2.0%. Energy slid by 4.3%, while healthcare and utilities gave up 1.7% and 0.9%. The most heavily traded shares by volume were Hut 8 Mining Corp, Shopify Inc, and Cenovus Energy.

5 from 5i

Here are five reads we found interesting last week:


Happy Reading & Stay Safe!


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



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