“Put the politicians on minimum wage and watch how fast things change” – Author Unknown

Market Wrap-Up

The major North American, European and Asian markets all finished down for the week, as market uncertainty continued. However, Friday saw the S&P 500 and Dow Jones Industrial posted gains to close out the week, while the NASDAQ finished Friday slightly down by 11 points (0.15 per cent).

Friday’s rebound was on the heels of President Trump’s statement that China appeared willing to make a trade deal, and that the U.S. may not need to impose further tariffs on Chinese goods.

In Toronto, the S&P/TSX rebounded slightly on Friday, with a 10.62-point (0.07 per cent) gain. This, despite marijuana producers weighing on the health care sector and an energy sector pullback.

Materials were a pleasant surprise, posting a one per cent rise due to rising copper and zinc prices.

Brexit concerns kept European indexes in check, with most major European indexes posting losses to close out Friday.

While these pullbacks hurt in the short-term, they – as usual – present the long-term-focused investor with more opportunity to find great value through “buying the dip”. Buying the dip can pay off handsomely over time. Contact us if you would like to discuss your options.

Market Wrap-Up – By The Numbers

North America

• The TSX closed at 15,156, down -118 points or -0.77% over the past week. YTD the TSX is down -6.50%.
• The DOW closed at 25,413, down -576 points or -2.22% over the past week. YTD the DOW is up 2.81%.
• The S&P 500 closed at 2,736, down -45 points or -1.62% over the past week. YTD the S&P 500 is up 2.32%.
• The NASDAQ closed at 7,248, down -159 points or -2.15% over the past week. YTD the NASDAQ is up 5.00%.
• Gold closed at 1,222, up -25.00 points or 0.99% over the past week. YTD gold is down -6.72%.
• Oil closed at 56.83, down -2.99 points or -5.00% over the past week. YTD oil is down -5.94%.
• The USD/CAD closed at 0.7609, up 0.0031 points or 0.41% over the past week. YTD the USD/CAD is down -4.33%.

Europe/Asia

• The MSCI closed at 2,032, down -31 points or -1.50% over the past week. YTD the MSCI is down -3.38%.
• The Euro Stoxx 50 closed at 3,181, down -49 points or -1.52% over the past week. YTD the Euro Stoxx 50 is down -9.22%.
• The FTSE closed at 7,014, down -91 points or -1.28% over the past week. YTD the FTSE is down -8.77%.
• The CAC closed at 5,025, down -82 points or -1.61% over the past week. YTD the CAC is down -5.42%.
• DAX closed at 11,341, down -188 points or -1.63% over the past week. YTD DAX is down -12.21%.
• Nikkei closed at 21,680, down -570 points or -2.56% over the past week. YTD Nikkei is down -4.77%.
• The Shanghai closed at 2,679, up 80 points or 3.08% over the past week. YTD the Shanghai is down -18.99%.

Fixed Income

• The 10-Yr Bond Yield closed at 3.07, down -0.1200 points or -3.76% over the past week. YTD the 10-Yr Bond Yield is up 27.92%.

Sources: Dynamic Funds

This information is provided for general information purposes only. It does not constitute professional advice. Please contact a professional about your specific needs before taking any action.