Market View

U.S. consumer sentiment index fell again in November to 60.4 compared to 63.7 expected, marking a fourth straight month drop amid weak consumer spending. On the other hand, oil also plunged to a three-month low this week due to the growing concerns over weak global demand, especially from China. The Canadian dollar was 72.38 cents USD. The U.S. S&P500 ended the week up 0.8%, while the TSX was down 1.2%.

A week of mixed bags including a 4.8% drop in materials and a 4.2% drop in real estate. Energy gave up 3.9%, and industrials were slightly down 0.7%. Technology and consumer staples added 1.3% and 1.1%, respectively. Financials gained 0.7%, while consumer staples ended the week slightly up 0.3%. The most heavily traded shares by volume were Canopy Growth, Baytex Energy, and Whitecap Resources.

5 from 5i

Here are five reads we found interesting last week:

•  Tech is Going to Get Much Bigger, written and published by Packy McCormick of Not Boring

• The Post Lock-Down Economy, written and published by Barry Ritholtz of Ritholtz Wealth Management LLC

• The Real Reason So Many Asset Managers Are Struggling in China, written and published by CAIA Association

• Evaluating Hedge Funds Through a Different Lens, authored by Steven Novakovic of Flyover Stocks

• The OpenAI Keynote, by Ben Thompson of Stratechery

Happy Reading & Stay Safe!

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