5 from 5i: Is the June Rate Cut Off the Table?

Michael Huynh Feb 16, 2024
Headline image for 5 from 5i: Is the June Rate Cut Off the Table?

Market View

The US Consumer Price Index (CPI) in January came hotter than expected, rising 3.1% over the prior year, compared to economist forecast of 2.9% annual increase, indicating inflation remains sticky. In addition, the US wholesale costs, the Producer Price Index in January rose 0.3% compared to the consensus estimate of 0.1%, the largest gain in five months, signalling that the inflation fight may not be over yet. The Canadian dollar was 74.20 cents USD. The U.S. S&P500 ended the week up flat, while the TSX was up 1.4%.


All but one sector rose this week. Energy gained 4.4%, while consumer staples and financials added 2.2%, each. Industrials and materials added 2.0% and 1.5%, respectively. Real estate rose 1.2% and consumer discretionary edged up 1.1%. On the other hand, information technology ended the week down 2.7%. The most heavily traded shares by volume were Air Canada, Bitfarms and Manulife Financial.


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.



Login to post a comment.

No comments have been posted yet.