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Weekly market wrap Sept. 14, 2018: U.S. economy, biz profits support stock markets
2/17/2019 10:06:16 PM
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By Fund Library News Wire  | Friday, September 14, 2018


By Mike Keerma

The big U.S. stock indices advanced on the week, despite some volatility on Friday on news that President Donald Trump intends to follow through on an additional US$200 billion in tariffs on Chinese goods. While trade tensions caused some intraday volatility on Friday, investor sentiment remained buoyed by underlying U.S. economic strength reflected in strong corporate profits, the rising price of crude oil, which boosted energy issues, and an increase in Treasury yields, which boosted financials and firmed up the U.S. dollar. The S&P 500 Composite Index gained 1.2% on the week, while the Nasdaq Composite Index advanced 1.4% as most of mega-cap tech giants made gains on the week. Toronto’s S&P/TSX Composite Index edged back on the week, however, with a marginal 0.5% loss. Crude oil gained 1.6%, but gold continued its slide, down 0.2% week over week.


* TD debuts new global offering. TD Asset Management Inc. launched its TD Global Equity Focused Fund, which looks for investment opportunities from global equity markets. The manager will look for global companies that have excellent business models, underestimated cash flow generation, and solid growth potential. It will use options and defensive currency hedging strategies when appropriate.

* Fidelity launches new factor mutual funds and ETFs. Fidelity Investments Canada announced a suite of factor-based ETFs and mutual funds:

* Fidelity Canadian High Dividend Index ETF (FCCD)
* Fidelity U.S. Dividend for Rising Rates Index ETF (FCRR)
* Fidelity U.S. Dividend for Rising Rates Currency Neutral Index ETF (FCRH)
* Fidelity U.S. High Dividend Index ETF (FCUD)
* Fidelity U.S. High Dividend Currency Neutral Index ETF (FCUH)
* Fidelity International High Dividend Index ETF (FCID)

The ETFs are expected to commence trading on the Toronto Stock Exchange on Tuesday, Sept. 18. The new ETFs and mutual funds (Series F) will be competitively priced with management fees ranging from 0.35% to 0.45%.

Fidelity is also launching the Fidelity Tactical Global Dividend ETF Fund, a single-ticket global dividend solution designed to generate income in various market environments.

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.


© 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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