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Weekly market wrap July 13, 2018: Stock markets gain on Q2 earnings expectations
3/20/2019 5:59:31 PM
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By Fund Library News Wire  | Friday, July 13, 2018


By Mike Keerma

The major North American stock indices posted respectable gains on the week, as underlying economic fundamentals remained strong, and hopes remained high for a strong second-quarter earnings season. Despite continuing trade tensions fueled by U.S. President Donald Trump’s outbursts this week in the U.K., soaring technology issues propelled the Nasdaq Composite Index to a record high, with a 1.8% advance on the week overall. Those same technology gains helped push the Dow Jones Industrial Average back above the 25,000 mark for the first time in more than a month and lifted the S&P 500 Composite Index over the 2,800 mark for the first time since February, giving the blue-chip index a 1.5% gain on the week. Toronto’s benchmark S&P/TSX Composite Index ended just about flat on the day at Friday’s close, weighed down by sliding bank stocks, but the index still managed a 1.2% advance for the week overall. Crude oil lost 4.4% on the week (and is now down 16.8% year to date), while gold was down 1.1% on the week.

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

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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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