By Mike Keerma
Canada’s June headline inflation rate jumped to an annual 2.5%, up from
2.2% in May, while retail sales jumped 2% in May over April (a 3.6% annual
rate). The two datapoints suggest underlying economic growth, despite
continuing anxieties over trade and tariff tension with the U.S., and set
the stage for another interest rate hike by the Bank of Canada in
September. Toronto’s benchmark
S&P/TSX Composite Index
dropped 0.8% on the week, as
edged down, falling 0.2%, while the retreating energy sector dragged on
overall index performance. In the U.S., the major stock indices ended the
week just about flat, as U.S. President Donald Trump’s trade and tariff
salvos against China and other trading partners, such as Canada and Mexico,
continue to unsettle investor sentiment. As the U.S. dollar weakened in
reaction to Trump’s accusations of currency manipulation by the E.U. and
China, both the
S&P 500 Composite Index
remained flat on the week, despite some strong earnings reports from the
Microsoft Corp. (NASDAQ: MSFT).
* Sun Life offers new JPMorgan international equity fund.
Sun Life Global Investments
Sun Life JPMorgan International Equity Fund. Sun Life says that the fund’s “unconstrained, high-conviction strategy
aims to maximize returns by diversifying across regions and sectors in
international markets” by investing primarily stocks outside of Canada and
the United States. Sadiq S. Adatia, Chief Investment Officer, Sun Life
Global Investments, said in a release, “A world-class fund manager with a
strong global brand recognition, J.P. Morgan has extensive experience in
the international equity market and shares our focus on delivering value
for our Clients.”
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