To my clients:
It was a down week for North American stock markets with the Canadian TSX falling 0.9%; the U.S. Dow Jones Index falling 0.4%; and the U.S. S&P falling 0.3%.
After a heavier update last week, I’ll keep this update exceptionally short and merely suggest that all eyes are on the G20 Summit underway in Japan, and the pending meeting tomorrow between President Trump and President Xi. What will be the outcome? I’ve no idea other than to say it’s unlikely to be definitively positive or negative, although I remain optimistic that it will incrementally improve the current trade environment owing to my oft-stated belief that both parties are ultimately motivated to engineer a positive trade outcome.
Next week, being the first week of a new month, brings the usual assortment of major monthly economic releases, as well as whatever results from the Trump/Xi meeting, and the likelihood of a more material update.
That’s it for this week. Have a fantastic long weekend and Happy Canada Day!
Nick Scholte, CIM, FCSI
Vice-President & Portfolio Manager
RBC Dominion Securities Inc. │ Tel: 604.257.7569 │ Fax: 604.235.9950
3200-1055 West Georgia │ Vancouver, BC │ V6E 3P3
Toll Free: 1.844.665.9900 │ firstname.lastname@example.org
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