“Only when the tide goes out do you discover who’s been swimming naked” – Warren Buffett
TSX Hits 4-Month High, Now Positive for the Year
The Toronto Stock Exchange’s S&P/TSX composite index gained 16.69 points (0.11%) on the day to close at 15,634.94. The TSX gained 180.71 points this week (1.17%) over last Friday’s close of 15,454.23. In the process, the TSX rose to a 4-month high. 7 of the TSX’s main sectors were up on the day.
September saw the TSX gain nearly 3%.
The Loonie dropped to 80.14 cents to the U.S. Dollar, as the Canadian economy was flat for July, ending an 8-month streak of growth. After surpassing the 82-cent mark, the Loonie has started to pull back somewhat; indeed, the July economic numbers weighed on our Dollar.
U.S. Markets Continue to Sizzle
The S&P 500 and the NASDAQ both hit record highs (again) on Friday. Year-to-date returns in the U.S. have been stellar, with the NASDAQ up over 20%, the Dow Jones Industrial Average up 13.37%, and the S&P 500 up a touch over 12.5%. The Technology sector was the top S&P 500 sector – this is not a recording.
However, as mentioned in Anthony’s Year-To-Date Market Recap, Canadian investors have not felt the full impact of these gains due to the rising Canadian Dollar (up 7.83% YTD).
For the month, the S&P 500 posted a 1.9% gain, the DJIA jumped 2.1%, and the NASDAQ increased by 1.05%.
Weekly Market Wrap-Up
North America
The TSX closed at 15635, up 181 points or 1.17% over the past week. YTD the TSX is up 2.34%.
The DOW closed at 22406, up 56 points or 0.25% over the past week. YTD the DOW is up 13.37%.
The S&P closed at 2519, up 17 points or 0.68% over the past week. YTD the S&P is up 12.51%.
The Nasdaq closed at 6496, up 69 points or 1.07% over the past week. YTD the Nasdaq is up 20.68%.
Gold closed at 1282, down -23.00 points or -1.46% over the past week. YTD gold is up 12.65%.
Oil closed at 51.58, up 0.92 points or 1.82% over the past week. YTD oil is down 1.23%.
The USD/CAD closed at 0.8, down -0.0100 points or -1.23% over the past week. YTD the USD/CAD is up 7.83%.
Europe/Asia
The MSCI closed at 1992, up 2 points or 0.10% over the past week. YTD the MSCI is up 13.63%.
The Euro Stoxx 50 closed at 3595, up 54 points or 1.52% over the past week. YTD the Euro Stoxx 50 is up 9.24%.
The FTSE closed at 7373, up 62 points or 0.85% over the past week. YTD the FTSE is up 3.22%.
The CAC closed at 5330, up 49 points or 0.93% over the past week. YTD the CAC is up 9.63%.
DAX closed at 12829, up 237.00 points or 1.88% over the past week. YTD DAX is up 11.74%.
Nikkei closed at 20356, up 59.00 points or 0.29% over the past week. YTD Nikkei is up 6.50%.
The Shanghai closed at 3349, down -4.0000 points or -0.12% over the past week. YTD the Shanghai is up 7.89%.
Fixed Income
The 10-Yr Bond closed at 2.33, up 0.0700 points or 3.10% over the past week. YTD the 10-Yr Bond is down 4.90%.
Sources: Globe Advisor, Dynamic Funds