Market View

The Bank of Canada holds the interest rate steady at 5% in the final decision of 2023, encouraged by clear evidence that inflation is coming gradually. On the other hand, the November US employment data came in better than expected, adding 199,000 jobs in the month, more than the 185,000 expected by economists. The Canadian dollar was 73.57 cents USD. The U.S. S&P500 ended the week up 0.7%, while the TSX was down 0.4%.

A week of mixed bags including a 6.0% drop in energy and a 3.1% drop in materials. Consumer staples and financials added 1.7% and 1.3%, respectively. Information technology gained 1.0%, while industrials ended the week slightly up 0.2%. The most heavily traded shares by volume were Canopy Growth, Baytex Energy, and Bitfarms.

5 from 5i

Here are five reads we found interesting last week:

• New Record Cash Levels – Investors are still scared, written and published by All Star Charts

• Google takes aim at OpenAI with launch of powerful new AI model Gemini, by Michael Nunez of VentureBeat

• Mortgage rates are (finally) back at 7%, authored by Housingwire

• Everyone is Irrational, written and published by Ben Carlson of Ritholtz Wealth Management LLC

• Should You T-Bill and Chill?, 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.