“Having a baby is one of the most wonderful things in your life, as well as the hardest thing in your life” – Nuno Bettencourt
A New Addition to the You First Family
Earlier this week, Mitra and Anthony welcomed their second child! Sophie Chandler Sabti was born at 4am on November 14th at St. Paul’s, weighing in at 8 pounds, 15 ounces. Mother and baby are happy and healthy, and resting up at home.
Anthony is home for the next couple of weeks, returning full-time on Monday, December 4th.
Despite Friday Gains, TSX Winning Streak Snapped
The Toronto Stock Exchange’s S&P/TSX composite index gained 63.20 points (0.40 per cent) on Friday to finish at 15,998.57. Energy and gold prices helped to push the TSX upward.
For the week, the TSX was down by 40.69 points (0.25 per cent).
The week-over-week decrease halted the TSX’s nine-week winning streak, its longest such streak since 1996.
Oil rose by $1.54 USD per barrel to finish at $56.68, a rise of 2.79 per cent on the day. For the week, oil was down 0.39% from last Friday’s $56.90 USD close. The rise was spurred by a possible OPEC production cut.
Gold popped up by $16.20 (1.27 per cent) on Friday to settle at $1,294.40 USD per ounce. This represents a gain of 1.47 per cent over last week’s finish at $1,275.60 USD per ounce.
The Loonie dropped by 0.00079 of a penny to finish at 78.302 cents to the Greenback as of Friday 3:19pm PST. For the week, the CAD was down about half a penny.
U.S. Markets Down Friday, Trump’s Proposed Tax Overhaul Continues to Weigh on Wall Street
Continued uncertainty in the U.S. about tax reform, and the Republicans’ ability to get it passed, led Wall Street lower on Friday. However, Congressional Republicans approved a broad tax cut plan. The U.S. Senate, also Republican-controlled, now must review the proposal.
Investors continue to look on with great interest, as a large corporate tax cut would lead to stronger bottom lines across the board, further propelling the hot markets south of the 49th parallel. A small Reuters poll of 60 economists found nearly 2/3rd of the 60 to be pessimistic that the Trump-led GOP will pass the tax reform legislation.
The Dow Jones Industrial Average (DJIA) dropped by 100.12 points (0.43 per cent) on Friday. On the week, the Dow Jones was down 72.77 points (0.31 per cent).
The S&P 500 fell by 6.79 points (0.26 per cent) on Friday and settled at 2,578.85, down 0.13 per cent on the week.
NASDAQ also dropped on Friday, with a pullback of 10.50 points (0.15 per cent). On the week, the NASDAQ was up 32.58 points (0.52 per cent).
Sources: Globe Advisor, Reuters, Yahoo! Finance