Last updated: Sep-21-2018

9/22/2018 11:01:46 PM
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By Fund Library News Wire | Friday, November 03, 2017

* Apple drives U.S. market gains, oil boosts Canada benchmark.
* Horizons launches AI-powered ETF.
* Fidelity debuts innovation-focused fund.

* Apple drives U.S. market gains, oil boosts Canada benchmark.
The major North American stock indices logged another week of gains, with Canada’s benchmark S&P/TSX Composite Index advancing 0.4% on the week, boosted by a 3.2% jump in the price of crude oil, settling near a two-year high of US$55.71 per barrel on Friday. U.S. stock indices basked in the halo effect of estimate-beating quarterly earnings from current market monster Apple Inc. (NASDAQ: AAPL), which surged 2.6% on Friday, nearing a market capitalization of US$900 billion. The S&P 500 Composite Index gained 0.3% on the week, while the Nasdaq Composite Index rose 1%, for a 26% advance in the year to date. Sentiment was further boosted by the U.S. October payroll report, which showed 261,000 new jobs added in the month, and a dip in the unemployment rate, to 4.1% from 4.2% in September. And the appointment of Jerome Powell as the new chairman of the Federal Reserve to replace Janet Yellen at least came as no surprise.


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