“A budget is telling your money where to go instead of wondering where it went” – Dave Ramsey

TSX Gains for Eighth Straight Week

The Toronto Stock Exchange’s S&P/TSX composite index rose 5.17 points (0.03 per cent) to finish at 16,020.16. The TSX was up 66.85 points (0.42 per cent) over last week’s finish at 15,953.51. This is the eighth straight week of gains for the Canada’s main trading index, and the first time the TSX has broken the 16,000 watermark.

Five of the TSX’s 10 main sectors were up on Friday.

Financials, Materials and Industrials were notable sectors to experience drops on Friday, while the Energy sector ticked higher.

The October jobs report painted a rosy picture for Canada, with a greater-than-expected jobs boost and the largest wage increase in 18 months.

International trade data for September was less encouraging; both imports and exports decreased for the fourth consecutive month.

Gold dipped by almost eight dollars per ounce to finish Friday at $1,270.20 USD per ounce.

The Loonie rose on Friday to 78.37 cents to the Greenback, an increase of 33 basis-points for the day and 42 basis-points (0.54 per cent) on the week.

U.S. Job Growth Increases in October, Rate Hike Likely

As the southern states work to recover from a succession of battering hurricanes, the U.S. job market has picked up again; however, less encouraging numbers point to a slowdown in annual wage increases. Also, there has been an increase in people dropping out of the workforce altogether.

Investors rate the chance of a rate hike by U.S. Federal Reserve Chair Janet Yellen at over 90 per cent. If a rate hike does occur, one might expect the CAD to depreciate in relation to the Greenback.

Over 72 per cent of the 406 S&P 500 companies to report their Q3 earnings exceeded their expected earnings expectations. The S&P 500 increased by 7.99 points (0.31 per cent) on Friday to settle at 2,587.84.

The Dow Jones Industrial Average (DJIA) continued its ascent with a 22.93 (0.10 per cent) increase on Friday, to settle at 23,539.19. On the week, the DJIA rose by 106.41 points (0.45 per cent) over last week’s 23,432.78 finish.

NASDAQ continues to be propelled by the so-called FAANG (Facebook, Amazon, Apple, Netflix, Google), and rose 49.49 points (0.74 per cent) on Friday, settling at 6,764.44.

The Volatility S&P 500 (VIX), a market volatility index, dropped by 7.96 per cent on Friday to finish at 9.14, its lowest close in over 5 years.

WEEKLY MARKET WRAP-UP

North America
The DOW closed at 23,539, up 106 points or 0.45% over the past week. YTD the DOW is up 19.11%.
The S&P closed at 2,588, up 7 points or 0.27% over the past week. YTD the S&P is up 15.59%.
The NASDAQ closed at 6,764, up 64 points or 0.96% over the past week. YTD the NASDAQ is up 25.67%.
Gold closed at 1,270, down -7.00 points or -0.39% over the past week. YTD gold is up 11.60%.
Oil closed at 55.66, up 1.47 points or 2.71% over the past week. YTD oil is up 6.59%.
The USD/CAD closed at 0.78, changed 0.0000 points or 0.00% over the past week. YTD the USD/CAD is up 5.14%.

Europe/Asia
The MSCI closed at 2,043, up 17 points or 0.84% over the past week. YTD the MSCI is up 16.54%.
The Euro Stoxx 50 closed at 3,690, up 38 points or 1.04% over the past week. YTD the Euro Stoxx 50 is up 12.12%.
The FTSE closed at 7,560, up 55 points or 0.73% over the past week. YTD the FTSE is up 5.84%.
The CAC closed at 5,518, up 24 points or 0.44% over the past week. YTD the CAC is up 13.49%.
DAX closed at 13,479, up 261.00 points or 1.97% over the past week. YTD DAX is up 17.40%.
Nikkei closed at 22,539, up 530.00 points or 2.41% over the past week. YTD Nikkei is up 17.92%.
The Shanghai closed at 3,372, down -45.0000 points or -1.32% over the past week. YTD the Shanghai is up 8.63%.

Fixed Income
The 10-Yr Bond closed at 2.34, down -0.0900 points or -3.70% over the past week. YTD the 10-Yr Bond is down 4.49%.

Sources: Globe Advisor, Yahoo! Finance