Last updated: Dec-13-2018

    
 
Weekly market wrap July 20, 2018: Markets remain flat on the week unsettled by Trumpís trade tensions
12/14/2018 4:51:35 PM
HOME : FEATURES : COLUMNS : Weekly market wrap July 20, 2018: Markets remain flat on the week unsettled by Trumpís trade tensions
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By Fund Library News Wire  | Friday, July 20, 2018


 

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 crude oil 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 and the Nasdaq Composite remained flat on the week, despite some strong earnings reports from the likes of Microsoft Corp. (NASDAQ: MSFT).

FUND NEWS

* Sun Life offers new JPMorgan international equity fund. Sun Life Global Investments debuted its 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.”

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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