Market View

The third quarter GDP showed the U.S. economy grew at an annualized rate of 4.3 percent, higher than 3.3 percent expected, a potential sign of continued economic resilience. On the other hand, oil falls near US$60 as expectations for a swelling supply surplus offset geopolitical risks to production in several OPEC+ nations. The Canadian dollar was 72.79 cents USD. The U.S. S&P 500 ended the year 2025 up 17.8% (dividends included), while the TSX ended the year 2025 up 31.5% (dividends included).

A lot more greens this week than reds. Energy and consumer staples gained 3.6% and 1.3%, respectively. Real estate added 0.7%, while consumer discretionary and financials edged up by 0.4%, each. Materials and technology gave up 4.6% and 3.5%, respectively. Industrials ended the week flat. The most heavily traded shares by volume were Toronto-Dominion Bank (TD), Canadian Natural Resources (CNQ), and Shopify (SHOP).

5 from 5i

Here are five reads we found interesting last week:

• Will retail traders’ option-fueled market stampede keep accelerating?, as written by Luke Kawa of Sherwood News
• One in a Quadrillion, published by Rubin Miller of Fortune and Frictions.
• Titanic Inequality, published by Ben Carlson of Ritholtz Wealth Management LLC
• Pray for Beta, Not Alpha, published by Nick Maggiulli of Of Dollars and Data
• How to Set and Invest Your Emergency Fund, by Christine Benz 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.