I want to start off with China right now. So you're saying that China is a leader in what you're calling the nextg economy that's robots even ship building uh AI you're saying they're neck andneck with the US. So how does an investor play that.Is there one ETF you can focus on that or is it more of a stock picking situation. >> I think you can get hit pretty broad exposure to it. Obviously our ETF see grow the China growth uh greater China growth ETF um has exposure to you know a combination of this China t ...

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Market Overview - The Dow dropped 228 points, the S&P 500 fell by 1.16%, and the Nasdaq decreased by 1.81%, indicating a defensive market breadth with volume slightly above recent averages, suggesting active selling rather than passive drift [1] AI Sector Performance - The AI trade is showing signs of strain, particularly in megacap tech stocks. Oracle's shares fell by 5.4% following reports that Blue Owl Capital will not support a planned $10 billion data center deal, signaling a shift in market sentiment towards AI investments [2] - Nvidia's stock declined by 3.8% and Broadcom's by 4.5%, contributing to a nearly 4% drop in the chip index. Traders are increasingly questioning the sustainability of balance sheet strain in the sector as AI spending appears to be self-reinforcing, with OpenAI at the center of this dynamic [3] - Amazon's shares slipped by 0.6% amid news of potential talks to invest approximately $10 billion in OpenAI, which may enhance its AI capabilities but also serves as a reminder of rising costs in the sector [4] Trader Sentiment - Traders are currently stepping back from chasing dips, with decliners significantly outpacing advancers, particularly on the Nasdaq. This reflects a reassessment of exposure as year-end approaches, rather than indiscriminate selling [5] - Alphabet's shares fell by 3.2% as reports emerged that Google is collaborating with Meta to compete against Nvidia's software dominance. The market is focusing on execution risks and timelines rather than the long-term potential of this initiative [5]

Group 1: Canadian Market Insights - Canadian annual inflation rose 2.2% in November, unchanged from the previous month and slightly below economists' expectations [1] - The S&P/TSX composite index decreased by 43.95 points, closing at 31,483.44 [2] - The Bank of Canada maintained its policy rate at 2.25%, with analysts suggesting it missed an opportunity to lower borrowing costs given inflation is at target [2] Group 2: U.S. Market Dynamics - U.S. indexes were influenced by mixed performances in the artificial intelligence sector, with Nvidia increasing by 0.7% after a previous drop, while Oracle fell by 2.7% following a significant decline [3][4] - Concerns about the profitability of investments in AI-related chips and data centers are causing volatility in the sector, which previously drove market rallies [4] - The upcoming U.S. jobs report and inflation data are critical as the Federal Reserve assesses economic conditions, with weak data potentially being viewed positively by the market [5][6] Group 3: Commodity Prices - The January crude oil contract decreased by 62 cents, settling at US$56.82 per barrel [7] - The February gold contract increased by US$6.90, reaching US$4,335.20 per ounce [7]

Market Performance - The Dow and S&P 500 reached record highs, with the Dow up 1.3% or approximately 650 points [1][2] - The Russell 2000 also hit a record high, increasing by 1.3% [2] - The S&P 500 equal weight index performed well, indicating strong market breadth [11] Sector Performance - Cyclical sectors showed strength, with materials up 2%, financials slightly less, and industrials up 1% [4] - Energy and tech sectors experienced declines, each down about 0.5% [3][4] - The NASDAQ 100 struggled due to poor performance from mega-cap stocks, except for Microsoft and Meta [5][6] Economic Outlook - The U.S. economy is perceived to be in a softening phase, with a weakening labor market and cautious consumer behavior [10] - There are signs of potential stabilization and growth heading into the new year, supported by fiscal stimulus and easing monetary standards [12][11] - Earnings expectations for 2026 are moving higher, with anticipated growth of nearly 15% [17] Company-Specific News - Broadcom reported Q4 EPS of $1.95, beating estimates, and net revenue of $18.02 billion, also above consensus [28] - Lululemon announced a CEO succession plan following a period of slowing sales, with CEO Calvin McDonald set to depart at the end of January [31][32] - Concerns for Lululemon include slowed growth in North America and increased competition, but there is potential for growth in international markets [42][43] Investment Implications - Investors are advised to be selective in their investments, particularly in the tech sector, focusing on companies with strong free cash flows [22][23] - Opportunities are emerging in sectors such as transportation, healthcare, and energy, with a recommendation to look for consolidation in uptrends [25][26]

Central Bank Actions - Central banks outside the US are leaning more hawkish, with the Bank of England expected to implement a hawkish cut next week, while the Fed's recent cut was less hawkish than anticipated [3][4] - The Bank of Japan is expected to hike rates next week and potentially one or two times next year, contributing to pressure on the dollar [5] Market Reactions - The dollar index has decreased by about 1% over the past two days, which has positively impacted returns for international stocks [5] - Despite concerns regarding Oracle's AI capital spending, the market is holding up well, with the S&P 500 only down 12 points and the Russell and Dow Jones showing gains [6][8] Economic Indicators - Economic growth in Canada and Mexico has exceeded expectations, with both countries' stock markets up nearly 30% in local currency this year [15] - Job creation in Canada has been strong, with 180,000 new jobs added over the last three months [5] Trade and Tariffs - Mexico's potential implementation of up to 50% tariffs on goods from China and other countries is likely a strategic move related to the upcoming USMCA review [14] - China continues to maintain a trade surplus of over $1 trillion, diversifying its markets despite a slowdown in exports to the US [16]

Market Overview - Inflation is beginning to rise, influencing upcoming Federal Reserve actions [2] - Corporate earnings are projected to increase by 5% to 9%, potentially pushing the S&P 500 to the 7400 range by Q1 2026 [3] - Positive market sentiment is noted, although some signs of losing momentum are present [4] Company Analysis: Alphabet - Alphabet is highlighted as a strong investment opportunity, particularly in the chip sector, where competition with Nvidia is expected to drive innovation [5][6] - Projected growth for Alphabet is estimated at 12% to 14%, which is considered conservative [7] - The stock is currently trading at approximately $316.25, with an 80% increase over the last six months [15] Company Analysis: Critical Metals - Critical Metals has faced a decline of nearly 12% over the past month, attributed to geopolitical factors, particularly the US-China trade relationship [16][17] - The stock is viewed as undervalued, with potential for a 10% increase over the next 18 months [18] - The company is seen as a necessary supplier in the rare metals sector, which is critical for US needs [17] Company Analysis: SoFi - SoFi is identified as an undervalued stock within the financial sector, with expectations of a 10% to 14% increase over the next 18 months [27] - The stock has been under pressure due to a recent $1.5 billion stock offering, but it is viewed as a turnaround opportunity [26][28] - Year-to-date, SoFi has increased by 76%, indicating potential for further growth as the financial sector begins to recover [36]

The third quarter earnings season is winding down, and only a handful of major companies have yet to report results. So far, the Q3 earnings season has shown largely solid results. As of Nov. 21, 95% of S&P 500 companies have reported, according to FactSet data, and analysts are expecting a 13.4% jump in earnings per share during the third quarter. If that figure holds, it would mark the fourth straight quarter of double-digit earnings growth and an acceleration from the 12% earnings growth rate reported ...

Market Sentiment - The market is experiencing a positive sentiment, with Asian markets showing strong performance and commodities rising [1][2] - There is a belief that having an operational US government is beneficial for market stability, potentially leading to future interest rate cuts by the Federal Reserve [2] Economic Concerns - Despite the current optimism, there are underlying concerns about the fragility of the market, particularly in the tech sector, which may not sustain this positive sentiment for long [3][9] - Signs of weakness in the US economy are emerging, with lower-income groups facing challenges, indicating a K-shaped recovery [7][8] Consumer Behavior - Consumer sentiment data suggests a decline in spending, particularly noted in fast food retail earnings, which may reflect broader economic anxieties [8] - The increase in bad loans, such as auto loans, indicates potential financial stress among consumers [8] Market Dynamics - The "buy the dip" mentality remains strong, especially in the chip sector, as the market has rewarded this behavior throughout the year [4][5] - Historical perspectives suggest that markets tend to overlook government shutdowns unless they persist for an extended period [6]

US stocks took a sharp turn lower Thursday morning as concerns about Big Tech continued to dog markets and private jobs data showed a tough month for layoffs in October. The tech-heavy Nasdaq Composite (^IXIC) led the way lower, sliding 1.6%. The S&P 500 (^GSPC) lost 0.9%, and the Dow Jones Industrial Average (^DJI) sank around 0.8%. The market received bearish data on jobs Thursday morning, as a report from the global outplacement firm Challenger, Gray & Christmas showed that last month was the worst O ...