- Jul 9, 2020
EQUITIES COMMENT - Technology The Standout
Equity markets made up a lot of ground in the second quarter that was lost earlier this year. After being down 21% in the first quarter, the TSX Composite gained 17% in the second, the S&P 500 was down 12% and came back 15% while international stocks rose 10% after falling 15%. On the surface, these numbers are encouraging. However, in Canada, the gains have been propelled by one sector—Technology. If we take out one Technology stock, Shopify, the TSX return for the first
65 views
- Apr 9, 2020
EQUITIES COMMENT: "Black and Blue"
Equity investors are feeling bruised after the first quarter of 2020. Global stocks reached record highs in the middle of February however, when news hit that the coronavirus was spreading outside of Asia, markets began one of the fastest and largest declines of the last century. The breakdown of OPEC+ added to the weakness in stocks. Short term traders hit the sell button while buyers stepped aside to await further clarity on the fallout from the pandemic. This resulted
51 views
- Jan 10, 2020
EQUITIES COMMENT: "It Was a Very Good Year"
Global stocks surged over 20% in 2019. The TSX Composite was ahead 23% including dividends. In Canadian dollar terms, the S&P 500 clocked in a gain of 25% and EAFE (Europe, Asia and the Far East) returned 17%. Stocks demonstrated resilience against a background of a synchronized global slowdown in manufacturing and trade. This weakness had a lot to do with U.S. China trade negotiations and increased tariffs on Chinese goods. Actions by central bankers saved the day. Three
10 views
- Oct 8, 2019
EQUITIES COMMENT: "Q&A"
How did stocks do during the third quarter? International stocks had a tiny .3% return in Canadian dollar terms. Canadian and U.S. stocks each rose 3%. The TSX Composite reached a record high on September 20th. What developments affected markets? Trade negotiations between the U.S. and China were one of the most influential factors. Stocks rose in July on optimism for trade talks after Trump and Xi met at the G20 meeting in June. In August, the announcement of new tariff
58 views
