“Globalization and free trade do spur economic growth, and they lead to lower prices on many goods” – Robert Reich
Please note that starting next week until the end of April, our weekly update will simply consist of the weekly and year-to-date market numbers.
Stock Markets Drop on Tariff Worries
Sabre-rattling between the United States and China intensified this week, with President Trump signing a presidential memorandum with aim to impose $60 Billion of import tariffs on Chinese goods; the Chinese retaliated with a $3 Billion tariff threat on American goods.
It should be noted that prior to officially enacting the tariffs on China, there is a 30-day consultation period on the memorandum, so there is certainly no guarantee that the tariffs will come to pass.
What does this mean for your portfolio? Well, following a relatively smooth and calm 2017, 2018 has brought us the “return of market volatility”, with more ups and downs in the market. This increased volatility provides long-term-focused investors with buying opportunities when markets do dip, such as right now.
Feel free to contact us with questions, or if you’d like to make a contribution!
Parents with Children at Daycare: Check for Fee Reductions Starting April
In its February budget, the provincial government announced various affordable childcare initiatives.
The measure that made most headlines is the affordable childcare benefit, an income-based subsidy making childcare free for families with income below $45,000. This will take effect starting September 2018.
What was not as heavily mentioned was a non-income-based fee reduction under the new Child Care Operating Funding (CCOF) program. The program is optional – childcare providers can choose to or not to participate.
For childcare providers that have opted into the CCOF program, the fee reductions will start as early as April 1st, and are as follows:
- $350/month for group infant/toddler care
- $200/month for family infant/toddler care
- $100/month for group care for children aged 3-5
- $60/month for family care for children aged 3-5
If you have an infant or toddler or a child aged 3 to 5 in licensed group or family care, check to see if your provider is planning to participate in the fee reduction initiative.
More information can be found here.
Weekly Market Wrap-Up
North America
- The TSX closed at 15224, down -487 points or -3.10% over the past week. YTD the TSX is down -6.08%.
- The DOW closed at 23533, down -1414 points or -5.67% over the past week. YTD the DOW is down -4.80%.
- The S&P closed at 2588, down -164 points or -5.96% over the past week. YTD the S&P is down -3.22%.
- The NASDAQ closed at 6993, down -489 points or -6.54% over the past week. YTD the Nasdaq is up 1.30%.
- Gold closed at 1348, up -9.00 points or 2.51% over the past week. YTD gold is up 2.90%.
- Oil closed at 65.81, up 3.47 points or 5.57% over the past week. YTD oil is up 8.92%.
- The USD/CAD closed at 0.7755, up 0.0118 points or 1.55% over the past week. YTD the USD/CAD is down -2.49%.
Europe/Asia
- The MSCI closed at 2073, down -61 points or -2.86% over the past week. YTD the MSCI is down -1.43%.
- The Euro Stoxx 50 closed at 3304, down -133 points or -3.87% over the past week. YTD the Euro Stoxx 50 is down -5.71%.
- The FTSE closed at 6922, down -242 points or -3.38% over the past week. YTD the FTSE is down -9.96%.
- The CAC closed at 5095, down -188 points or -3.56% over the past week. YTD the CAC is down -4.10%.
- DAX closed at 11886, down -504.00 points or -4.07% over the past week. YTD DAX is down -7.99%.
- Nikkei closed at 20618, down -1059.00 points or -4.89% over the past week. YTD Nikkei is down -9.43%.
- The Shanghai closed at 3153, down -117.0000 points or -3.58% over the past week. YTD the Shanghai is down -4.66%.
Fixed Income
- The 10-Yr Bond Yield closed at 2.83, down -0.0200 points or -0.70% over the past week. YTD the 10-Yr Bond is up 17.92%.
Sources: Globe Advisor, Dynamic Funds