Last updated: May-22-2019

    
 
Fund Library News Wire
5/23/2019 4:57:02 AM
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Current news, updates, and market information.


By Fund Library News Wire | Thursday, May 23, 2019



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

Investors have been on a roller coaster ride over the past couple of weeks. The climax came at the stroke of midnight on Friday, May 10, when U.S. President Donald Trump’s newest tariffs went into effect – a 25% toll on $200 billion of Chinese goods. Then later on Friday, the negotiations ended with no material progress, and there are no formal plans to resume talks. What’s more, China retaliated the morning of May 13 by announcing tariffs on U.S. goods being imported to China.


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By Fund Library News Wire | Friday, May 17, 2019

The main North American stock gauges succumbed to investor anxieties over tariffs and tensions swirling around U.S.-China trade talks. Investor sentiment tanked early in the week as China announced new tariffs in retaliation for fresh tariffs imposed by the U.S. administration the week before. However, stock markets rallied through the week as the Trump Administration put on hold another round of tariffs on over $300 billion of Chinese imports. It wasn’t enough to lift markets for the week, however, as the S&P 500 Composite Index lost 0.6% on the week, while the Nasdaq Composite Index retreated 1.0%. The announcement by President Donald Trump on Friday that tariffs on Canadian and Mexican steel and aluminum will be lifted as part of the USMCA trade agreement helped keep the S&P/TSX Composite Index above water for the week, advancing 0.6%.


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By Fund Library News Wire | Friday, May 10, 2019

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. The 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 to 1.2%.


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By Fund Library News Wire | Friday, May 03, 2019

The main North American stock market gauges rallied on Friday as a strong U.S. job creation report for April buoyed market sentiment, and helped lift U.S. markets out of a slump on Thursday to close Friday just a hair above breakeven for the week. In fact, the Nasdaq Composite Index closed at another record high on Friday, boosted by gains in Amazon.com Inc. (NASDAQ: AMZN), following news on Thursday that conglomerate Berkshire Hathaway Inc. (NYSE: BRK.A) has been purchasing shares in the e-commerce company. The blue-chip S&P 500 Composite Index followed suit, with a 0.2% gain on the week. Despite a 0.5% rally on Friday, Toronto’s S&P/TSX Composite Index, lagged on the week, losing 0.7%, as a 1.5% weekly drop in the price of crude oil weighed on the energy sector, and financials remained rangebound following the U.S. Fed Chairman Jerome Powell’s comments on Wednesday that no rate moves in either direction were imminent.


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By Fund Library News Wire | Tuesday, April 30, 2019

A SPECIAL REPORT FROM



By Nash Swamy, Junior Analyst, Analytics & Data, Fundata Canada Inc.

In times of market turbulence, active portfolio managers may increase cash by selling off a proportionate percentage of securities within the portfolio. They also make calculated bets on earnings and macro-level events by using cash balances to increase overall exposure to the market, ultimately increasing risk. By analyzing the deployable cash in investment funds, we can assess the street’s market sentiment and get a fix on the liquidity of investment funds on a cash and cash-equivalents basis. Here’s a look at funds’ first-quarter cash deployments, and what it might tell us about fund managers’ thinking on market direction.


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By Fund Library News Wire | Friday, April 26, 2019

A higher-than-expected reading on U.S. economic growth in the first quarter helped buoy U.S. stock indices to solid weekly gains, with both the blue-chip S&P 500 Composite Index and the Nasdaq Composite Index registering record-setting highs at Friday’s close. This despite softer earnings reports from Dow components Intel Inc. (NASDAQ: INTC) and Exxon Mobil Corp. (NYSE: XOM). The S&P 500 gained 1.2% on the week, while the Nasdaq gained 1.9% and is ahead 23% year to date. Against a backdrop of softening crude oil prices, which dropped 1.9% on the week, Toronto’s S&P/TSX Composite Index broke even week-over-week, as the Bank of Canada gave a downbeat forecast on its economic outlook, kept its target overnight rate on hold at 1.75%, and announced that it is abandoning its rate-hike bias.


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By Fund Library News Wire | Thursday, April 25, 2019



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

The second week of April was a momentous one for central banks – the minutes from the March U.S. Federal Reserve Board’s (Fed) Open Market Committee (FOMC) meeting were released, giving us insight into the Federal Reserve’s views on the global economy and rate cuts, and the European Central Bank (ECB) decided to remain on its ultra-accommodative path. We were reminded that central banks are critical for supporting growth, controlling inflation, and stabilizing economies – a task that is growing increasingly difficult as these institutions become more politicized.


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By Fund Library News Wire | Thursday, April 18, 2019

By Mike Keerma

Mixed first-quarter earnings reports kept investors on the defensive as the major U.S. stock market indices remained mostly flat on the week. Canada’s benchmark S&P/TSX Composite Index logged a near 1% advance on the week, on slightly accelerating inflation in March, rising retail sales in February, and a narrowing trade deficit. In the U.S., absent a catalyst to move markets higher (for example a U.S.-China trade deal or confirmation of a bottom to soft growth in China and Europe), the S&P 500 Composite Index flatlined on the week, while the Nasdaq Composite Index gained a marginal 0.2%.


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By Fund Library News Wire | Friday, April 12, 2019

By Mike Keerma

Spurred on by Chinese trade data, a new service from Walt Disney & Co. (NYSE: DIS), and positive quarterly earnings reports from two of America’s largest banks, JPMorgan Chase & Co. (NYSE: JPM) and Wells Fargo & Co. (NYSE: WFC), investors bid the big North American stock indices to weekly gains, with the S&P 500 Composite Index edging towards its record high of 2,940.91, while gaining 0.5% on the week. The Nasdaq Composite Index also crept towards its 52-week high of 8,133.30, advancing 0.6% on the week. Toronto’s S&P/TSX Composite Index also made strides back towards its record high of 16,586.46 set last July, while also gaining 0.5% on the week as both financials and energy issues rallied.


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By Fund Library News Wire | Friday, April 05, 2019

By Mike Keerma

Buoyed by a better-than-expected U.S. job creation report for March, the major North American stock market indices logged strong gains for the week, with both the S&P 500 Composite Index and the Nasdaq Composite Index ahead over 2%, putting the Nasdaq’s year-to-date gain now at nearly 20%. Toronto’s benchmark S&P/TSX Composite Index benefitted from a surge in energy issues as crude oil gained over 5% on the week, while financials maintained strength, with the S&P/TSX Capped Financial Index gaining 2.4% on the week.


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By Fund Library News Wire | Thursday, April 04, 2019



By Felix Narhi, CIO & Portfolio Manager, Penderfund Capital Management

We can ignore reality but we cannot ignore the consequences of ignoring reality.”
– Ayn Rand


Last year was a tough one for investors, particularly the fourth quarter. There was virtually nowhere to hide. Unless you held cash, you likely experienced declines in annual returns. Although it always feels like an unusually difficult year when one is actually living through it, statistically speaking, from a long-term perspective, last year was perfectly normal. Here’s our take on the new normal and the need to adapt.


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By Fund Library News Wire | Friday, March 29, 2019

By Mike Keerma

Despite a recent inversion of the U.S. government bond yield curve and yet another rejection of a Brexit proposal by the British Parliament, the major stock market indices posted solid gains on the week, as investor sentiment was buoyed by a Tweet from U.S. Treasury Secretary Steven Mnuchin following the conclusion of this round of U.S.-China trade and tariff talks in Beijing. Mnuchin indicated further talks will take place in Washington next week. The S&P 500 Composite Index posted its best quarterly gain since 2009.


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By Fund Library News Wire | Tuesday, March 26, 2019



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

Monetary policy disruption was on full display last week: The U.S. Federal Reserve (Fed) announced a momentous change to its normalization plan, the yield curve inverted and sparked investor concerns, and a noted Fed critic was nominated to the central bank’s Board of Governors.


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By Fund Library News Wire | Friday, March 22, 2019

By Mike Keerma

The inversion of the U.S. yield curve, for the first time since 2007, caused a round of market jitters that saw the major North American indices on Friday post some of their biggest single-day losses since December, and end the week in the red. The S&P 500 Composite Index fell 2.0% on Friday, while the Nasdaq Composite Index dropped 2.5%. Toronto’s S&P/TSX Composite Index fell 1.0% on the day.


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By Fund Library News Wire | Monday, March 18, 2019



By Peter Westaway, Chief Economist, Vanguard Asset Management (Europe)

When people in the U.K. woke up on June 24, 2016, to the news that the country had voted to leave the E.U. (or “Brexit” as it is now commonly known), little did they know that 2½ years later, the future of the U.K.’s relationship with Europe would still be unclear. As debate and negotiation continue, what should investors do?


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By Fund Library News Wire | Friday, March 15, 2019

By Mike Keerma

The major U.S. stock market gauges piled on the gains this past week, as investors reacted positively to comments from China’s Premier Li Keqiang that while a trade agreement between China and the U.S. was still several weeks away, China remained “very responsible and reasonable.” U.S. Treasury Secretary Steven Mnuchin said there was still a lot of work to do. Li also stated that China would keep stimulus measures in place in an effort to reignite China’s economic growth. The S&P 500 Composite Index advanced 2.9% on the week as a result, while the tech-weighted Nasdaq Composite Index gained 3.8%. Toronto’s S&P/TSX Composite Index rode the coat-tails of U.S. markets, gaining 1.0% on the week, helped along by a 4.2% weekly surge in crude oil, as the index touched a five-month high at midday on Friday.


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By Fund Library News Wire | Tuesday, March 12, 2019

  

By Mark Raes, Head of Product, ETFs & Mutual Funds, BMO Global Asset Management Inc.

ETFs continue to make inroads into fixed-income mandates, based on their liquidity, low cost, and as an effective way to efficiently reposition portfolios. Of late, we have seen the emergence of active bond ETFs that have caused investors to take a fresh view of their portfolios.


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By Fund Library News Wire | Friday, March 08, 2019

By Mike Keerma

The week ended on a downbeat for major North American stock indices. The main market gauges all lost money, as investors were rattled by a low monthly U.S. job-creation report for February. In addition, Chinese export reportedly fell by 20% in February, while the European Central Bank took a decidedly more dovish tone on monetary policy, now extending its low rate regime until 2020 from an earlier plan to commence rate hikes this year. The S&P 500 Composite Index slumped 2.2% on the week, while the Nasdaq Composite Index retreated 2.5%. Toronto’s S&P/TSX Composite Index fared better, edging down just below breakeven on the week, as a positive jobs report and a slight weekly increase in the price of crude oil helped buoy investor sentiment for Canadian issues.


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By Fund Library News Wire | Friday, March 01, 2019

Reacting to strong U.S. GDP readings and the potential for a U.S.-China trade deal, the U.S. blue-chip S&P 500 Composite Index closed on Friday above the 2,800 mark for the first time since Nov. 8, advancing 0.4% for the week, while posting a 3.0% gain for February. The S&P 500 is now up 11.8% year to date, and is near to recovering losses sustained during the year-end stock market correction. Likewise, the technology-weighted Nasdaq Composite Index is ahead nearly 1% on the week, having closed February with a 3.4% monthly gain and advancing 14.5% year to date by Friday’s close. Toronto’s benchmark S&P/TSX Composite Index logged a 0.3% gain for the week, and was up nearly 3% in February, with a 12.2% year-to-date advance as of Friday’s close. Crude oil dropped 2.5% on the week, but is still ahead 22.8% year to date.


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By Fund Library News Wire | Thursday, February 28, 2019



By Kristina Hooper, Global Market Strategist, Invesco Ltd.

Last week was momentous for one specific reason: The U.S. Federal Reserve Board’s (Fed) Federal Open Market Committee (FOMC) released minutes from its January meeting, which detailed the significant “about face” that the Fed has made over the last few months. In my view, the FOMC’s insights, along with apparent progress in U.S.-China trade talks, could enable stocks to move higher in the short term – but I’m also wary of negative implications that could lie beneath the surface.


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