January 05, 2022
What's Happening Today - Jan. 4
Happy New Year! 2021 was a very strong year for the markets, but it came will higher levels of volatility and, of course, resurgent Covid caseloads. Here’s hoping things calm down a bit in 2022.
North American markets were in the green again today, with the TSX rising 13 points and the DOW up 214. Energy and economic recovery stocks lead the charge as
Canada’s Industrial Product Price Index rose 0.8% month-over-month in November.
Across the pond, European markets rose, extending a strong start to 2022, and hit a record high. November German retail sales rebounded unexpectedly month-over-month but fell on an annual basis, while German unemployment topped expectations. In Britain, manufacturing activity expanded in December as output, new orders and employment all rose.
Asian markets closed mostly higher with positive economic data supporting markets. In China, the Caixin/Markit Manufacturing Purchasing Managers' Index (PMI) showed factory activity expanded at its fastest pace in six months in December. While in Japan manufacturing activity in December grew for an 11th straight month, but uncertainty remained due to the surge in COVID-19 cases.
Oil prices edged up ahead of a OPEC meeting, where major producers are expected to stick to plans to add supply in February.
As always, give us a shout if you’d like to chat, or to make a TFSA contribution. The government left the TFSA contribution limit unchanged at an additional $6,000 per person for 2022, bringing the maximum lifetime contribution limit up to $81,500.