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Weekly Market Snapshot: TSX Rises as Oil Rebounds and U.S. Markets Cool

  TSX Edges Higher on Energy Strength The TSX posted a modest gain this week, supported by rising energy and financial stocks as oil prices rebounded from recent lows. Investor sentiment improved as commodity demand projections stabilized and geopolitical tensions eased. S&P 500 Cools After Strong Run The S&P 500 paused its recent rally, with tech names seeing mild pullbacks as traders reassessed earnings expectations and upcoming Federal Reserve commentary. Defensive sectors saw renewed interest as investors rotated toward value. Oil Rebounds, Supporting Canadian Markets Oil prices climbed on supply concerns and improving global demand forecasts. The rebound helped lift Canadian energy producers and contributed to the TSX’s relative outperformance. Canadian Dollar Holds Steady The CAD traded in a narrow range, balancing stronger commodity prices against softer domestic economic data. Markets continue to watch for Bank of Canada signals on future rate direction. Wi...
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Holiday spending outlook bleak for retailers amid consumer fatigue

 

The upcoming holiday season may not be very merry for Canadian retailers, as many consumers are planning to cut back on their spending amid rising inflation, supply chain disruptions and pandemic fatigue. 

According to a recent survey by Deloitte, only 38% of Canadians expect to spend more or the same amount as last year on holiday gifts, down from 54% in 2020. The average planned spending per household is also expected to drop by 13% to $1,405, the lowest level since 2015. The survey found that consumers are feeling the pinch of higher prices, lower savings and reduced disposable income, as well as concerns about the health and economic impacts of the COVID-19 variants. As a result, many shoppers are looking for ways to save money, such as buying fewer and cheaper gifts, using loyalty points or coupons, or opting for homemade or experiential gifts instead of physical ones. 

Retailers are also facing challenges from the global supply chain crisis, which has caused delays, shortages and higher costs for many products. Some retailers have warned that they may not be able to meet the demand for popular items, especially electronics, toys and clothing. Others have started their holiday promotions earlier than usual to encourage consumers to shop early and avoid disappointment. 

Deloitte's report suggests that retailers need to adapt to the changing consumer preferences and behaviours, and offer more value, convenience and flexibility to attract and retain customers. This may include providing more online and omnichannel options, offering free or fast shipping and returns, enhancing customer service and loyalty programs, and creating a safe and festive in-store environment.

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