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Weekly market wrap June 8, 2018: Markets mark time, edge up ahead of Fed rate announcement
10/18/2018 7:19:42 PM
HOME : FEATURES : COLUMNS : Weekly market wrap June 8, 2018: Markets mark time, edge up ahead of Fed rate announcement
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By Fund Library News Wire  | Friday, June 08, 2018


 

By Mike Keerma

Markets shrugged off trade tensions swirling around this week’s G7 meeting in Quebec, as the main North American market indices advanced on the week. Except for a net 7,500 job loss for the Canadian economy in May, the week was light on significant economic data. Despite the decline, Toronto’s benchmark equity index, the S&P/TSX Composite, managed a gain of 1% on the week overall. Similarly, U.S. investors gave little weight to trade hostilities between the U.S. and its main allies Canada and Mexico, arising from President Trump’s imposition of tariffs on steel and aluminum, as well as fractious NAFTA negotiations. Instead, investors marked time ahead of next week’s rate announcement as the U.S. Federal Reserve is widely expected to raise its federal funds rate a notch. The blue-chip S&P 500 Composite Index advanced 1.6% on the week, while the tech-weighted Nasdaq Composite Index gained 1.2%. Crude oil edged back 0.2% on the week, while gold ticked up 0.4%.

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

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