By Mike Keerma
U.S. stock markets closed Friday with slim losses on the day, but advanced
on the week as President Trump announced he would be releasing a “massive
tax cut” package next week. Markets have been generally leery of the Trump
Administration’s policy announcements, particularly after the recent
failure of the bill to replace Obamacare to make it to a vote in the House
of Representatives. In addition, economists are expecting a softening of
economic growth in the first quarter with next Friday’s release of
quarterly GDP numbers. The
S&P 500 Composite Index
advanced 0.9% on the week, while the
Nasdaq Composite Index
gained 1.8%. Toronto’s benchmark
S&P/TSX Composite Index
meanwhile gained a modest 0.5% on the week, as
prices softened in the wake of growing U.S. production and the lack of any
evidence that purported Opec production cuts are having any impact on
prices at all. The price of
also softened on the week, as geopolitical concerns faded from the
In Canada, the all items consumer price index slipped to an annual 1.6%
rate in March, down from 2.0% in February, while the core rate, which
excludes the more volatile food and energy prices, slipped to an annual
1.7% rate from 2.0% in February. The softening inflation rate gives the
Bank of Canada no ammunition to tighten monetary policy, as the softening
inflation rate remains well below the Bank’s target 2% rate, and points to
continuing slack in the economy.
* RBC revises five ETF ticker symbols.
RBC Global Asset Management Inc.
announced that four of its Canadian-dollar hedged ETFs will begin trading
with new ticker symbols effective May 9, 2017:
RBC Quant U.S. Dividend Leaders (CAD Hedged) ETF (TSX: RHU). New symbol (TSX: RUDH)
RBC Quant U.S. Equity Leaders (CAD Hedged) ETF (TSX: RHS). New symbol (TSX: RUEH).
RBC Quant European Dividend Leaders (CAD Hedged) ETF (TSX: RHP). New symbol (TSX: RPDH).
RBC Quant EAFE Dividend Leaders (CAD Hedged) ETF (TSX: RHI). New symbol (TSX: RIDH).
RBC Quant EAFE Equity Leaders (CAD Hedged) ETF (TSX: RHF). New symbol (TSX: RIEH)
RBC says the changes are meant to simplify the ticker symbols it uses
across its lineup of currency-hedged ETFs, and will not affect the funds’
CUSIPs, names, investment objectives, or investment strategies.
Check Fund Library’s
Market Activity page
regularly for active updates on key market indexes and commodities.
– Follow Fund Library on
for daily information and updates.
© 2017 by Fund Library. All rights reserved. Reproduction in whole or in
part by any means without prior written permission is prohibited.
The foregoing is for general information purposes only and is the opinion
of the writer. No guarantee of investment performance is made or implied.
It is not intended to provide specific personalized advice including,
without limitation, investment, financial, legal, accounting or tax advice.