Stocks fell across the board on the week, as trade tensions between the
U.S. and China continued to simmer in the absence of a trade deal along
with an increase in tariffs. U.S. inflationary pressures waned in April,
with some Fed officials indicating the core 2.1% annual rate was too low.
S&P 500 Composite Index
slid 2.2% on the week as a result, while the
Nasdaq Composite Index
dropped 3%. In Canada, a surprise gain of over 106,000 jobs in April, most
of them full time, helped boost market sentiment on Friday, limiting the
weekly loss on the
S&P/TSX Composite Index
Effective Friday morning the U.S. government imposed 20% import duties on
$200 billion of Chinese goods coming into the U.S. Also keeping markets
unsettled and leading to losses on the week for the major indices, U.S.
President Donald Trump threatened on Friday to impose a new 25% tariff on
another $325 billion of Chinese imports. U.S. consumer prices remained
almost flat in April, with the all items consumer price index at an annual
2.1%, indicating weaker price pressures and suggesting a longer hiatus
until the next rate hike by the Federal Reserve Board.
* BMO launches two new funds, makes a name change.
BMO Investments Inc.
today announced two new funds:
BMO Concentrated U.S. Equity Fund
holds a portfolio of U.S. high quality equity securities, investing with
high concentration to deliver long-term capital appreciation.
BMO Low Volatility Canadian Equity ETF Fund
invests in a diversified portfolio of Canadian equities that have lower
sensitivity to market movement with the potential for long-term capital
BMO Fossil Fuel Free Fund
has changed its name to BMO Sustainable Opportunities Global Equity Fund.
* TD debuts new ETFs.
TD Asset Management Inc. announced on Thursday the launch of three new
TD Active Global Enhanced Dividend ETF (TSX: TGED)
invests in dividend-paying stocks anywhere in the world. The ETF may use
options strategies to help reduce risk and earn additional income.
TD Systematic International Equity Low Volatility ETF (TSX: TILV)
uses a quantitative ETF strategy to invest in stocks in
developed markets outside Canada and the United States, while seeking to
TD Global Technology Leaders Index ETF (TSX: TEC)
is a technology focused fund tracks the Solactive Global Technology Leaders
Index of successful technology companies as well as emerging technology
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