Market View

The Bank of Canada announced an interest rate cut of 25 basis points to 2.5 percent amid a weakening economy, marking its first cut since March. Similarly, the U.S. Federal Reserve announced an interest rate cut by a quarter percentage point to a range of 4 percent - 4.25 percent, marking the first reduction of 2025, while projecting two more cuts in 2025. The Canadian dollar was 72.50 cents USD. The U.S. S&P 500 ended the week up 0.7%, while the TSX was up 1.1%.

It was a mixed week of greens and reds. Technology rose 2.6%, while financials gained 1.3%. Energy and materials added 1.0%, each, while consumer discretionary edged up by 0.2%. Consumer staples and real estate slid by 1.4% and 1.2%, respectively, while industrials ended the week flat. The most heavily traded shares by volume were Bank of Montreal (BMO), Shopify (SHOP), and Celestica (CLS).

5 from 5i

Here are five reads we found interesting last week:

• The 60/40 Portfolio: A 150-Year Markets Stress Test, by Emelia Fredlick of Morningstar.
• 10 Things I’ve Learned About Wealth Management in 10 Years, published by Ben Carlson of Ritholtz Wealth Management LLC
• Buy When There’s Bonds in the Streets?, written by Ben Carlson of Ritholtz Wealth Management LLC
• Is It Time to Raise Some Cash?, published and written by Ben Carlson of Ritholtz Wealth Management LLC
• Why Cash Is Still King for Short-Term Goals, by Amy C. Arnott 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.