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Weekly market wrap Jan. 26, 2018: U.S. stock indices make record highs…again
5/21/2018 4:50:15 PM
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By Fund Library News Wire  | Friday, January 26, 2018


 

By Mike Keerma

* U.S. stock indices close at record highs…again.
* Fundata FundGrade A+ Awards 2017.
* Fidelity launches new bond fund.
* Mackenzie launches 13 new ETFs.

* U.S. stock indices close at record highs…again. The major U.S. stock indices once again closed at record highs this week, as traders, increasingly turning to the risk side of the spectrum, were buoyed by healthy earnings reports in the healthcare and technology sectors and by 2.6% annual growth in U.S. gross domestic product. The S&P 500 Composite Index closed Friday on the high note, closing with a 2.2% gain on the week, while the Nasdaq Composite Index advanced 2.3%. Toronto’s S&P/TSX Composite Index edged down with a marginal weekly loss of 0.7%, against a backdrop of slightly weaker inflation in December (an annualized 1.9% rate, down from 2.1% in November) and a 1% week-over-week decline in the S&P/TSX Capped Financials Index. Helping cushion weakness in the TSX were a gain of 1.7% in the price of gold and a weekly advance of 4.2% in the price of crude oil.

FUND NEWS

* Fundata FundGrade A+ Awards 2017. Fundata Canada Inc. presented the FundGrade A+ Awards for 2017 to 57 companies representing a total of 274 superior Canadian investment funds at Fundata’s annual “Evening of Excellence” held on Thursday, January 25, 2018, at The Globe and Mail Centre in Toronto. See the complete list of winning funds on the FundGrade A+ Awards website.

* Fidelity launches new bond fund. Fidelity Investments Canada debuted its Fidelity Investment Grade Total Bond Fund, to be managed by Jeff Moore and Michael Plage. The fund aims to provide a steady flow of income along with the potential for capital appreciation. The managers employ an active management style, targeting multiple sources of return from issuers in the U.S. and around the world, focusing on investment-grade bonds. A currency neutral version is also available.

* Mackenzie launches 13 new ETFs. Mackenzie Financial Corp. that six of its new Exchange Traded Funds (ETFs) began trading on Jan. 24 and another seven are scheduled for listing at the end of the month. The six ETFs that have commenced trading are:

Mackenzie Canadian Equity Index ETF (TSX: QCN )
target="_blank" Mackenzie Canadian Large Cap Equity Index ETF (TSX: QCE)
Mackenzie International Equity Index ETF (TSX: QDX)
Mackenzie US Large Cap Equity Index ETF (TSX: QUU)
Mackenzie US High Yield Bond Index ETF (CAD-Hedged) (TSX: QHY)
Mackenzie US TIPS Index ETF (CAD-Hedged) (NEO: QTIP)

The following seven ETFs are expected to begin trading when the markets open on the dates indicated in the following table:

Check Fund Library’s Market Activity page regularly for active updates on key market indexes and commodities.

@FundLibrary – Follow Fund Library on Twitter for daily information and updates.

Disclaimer

© 2018 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.

 
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