Happy Friday from BMWM!

 

As today is Remembrance Day, we want to take a moment to remember those who have fought and died in the line of duty to keep us free. Please pause in a moment of silence to honour and remember more than 2 million Canadians who have served and continue to serve Canada during times of war, conflict and peace.

 

North American stocks rose sharply on Thursday. US equities as measured by the S&P 500 index logged its best day since April 2020. The US Consumer Price Index (CPI), which measures core and headline inflation, came in lower than expected for the month of October, bucking the trend of hotter reports this year. Easing inflation makes it more likely for the US Federal Reserve to soften its credit tightening schedule, which has provided an ample dose of optimism into the markets this week. Big tech, semiconductors, home builders and building products were some of the biggest gainers, while riskier pockets of the market also got a boost. We have been writing weekly about market volatility. While this week's market movements are certainly more digestible to the investor than ones to the downside, the rate of change from one day to the next remains volatile. We expect more of this activity in the coming weeks as new economic data and US midterm elections noise reaches a fever pitch. We as always remain focused on our investment process and long-term financial planning concepts, and look forward to more good conversations as we head into year-end.

 

The Current Account (click here to read) features a number of races in the U.S. midterm elections remaining too close to call, Alberta premier Danielle Smith securing a seat in the legislature, U.S. basketball star Britney Griner moving to a penal colony in Russia, and Canada’s Matea Roach dominating fellow Jeopardy legends in an exhibition match.

 

Taylor’s word of the week is freedom, which means “the power or right to act, speak, or think as one wants without hindrance or restraint”. For example, those who have served our country during times of war have allowed us to utilize our freedom and do as we please, within reason and without consequence.

Have a lovely weekend,

 

Brenda, Matt P, Taylor, and Matty