With proceeds from Lobsterfest and some other funds, we approved a few international aid projects for our Rotary Chapter last week. I had proposed a project for Mercy Ships and it was one of the ones chosen, so I will be the “Champion” for that project. I am hopeful that with some hoop jumping and some luck, we may be able to parlay the funds our chapter committed with some Rotary District, and then Rotary International, matching funds. That would turn it into a great additional project for the country of Senegal when Mercy Ships is scheduled to arrive there somewhere around late 2019. Either way we are supporting a very worthwhile cause and I am pleased to play a small hand in it.
This Past Week and more; North American markets were positive last week while international markets were mixed. The S&P/TSX was up 0.6%, while the DOW and SP500 were up 0.8% and 1.5% respectively.
On June 30th, at the half way point of 2018 (I know, hard to believe) 2 out 3 of the major North American markets were positive with the S&P/TSX up 0.4%, the S&P500 up 1.7%, and the DJIA was the negative hold out at -1.8%. Most major international markets are negative ytd at this point.
Our analysts still believe the year will finish on a positive note, with trade and tariff concerns of course being the wild card.
Speaking of which, US and Chinese tariffs on each other came into effect last week. Canadian retaliatory tariffs came into effect on July 1st with a focus on steel and aluminum. Trump has indicated he wants to hold off on NAFTA until later in the year after US midterms in hopes that Republican wins will give him more political strength to negotiate with.
A number of earnings reports are scheduled this week and are expected to be positive. Let’s hope those move markets in the right direction.
The Weekend/Weather; And the heat goes on. Temperatures are set to stay in the 80’sF/high 20’sC for the week, with sunshine every day and, at this point, some possible thundershowers on the weekend. There will be plenty of outdoor activities available.
Stay hydrated and have a great week!
Global Insight WEEKLY
Trade tensions heat up: What investors need to know
June 28, 2018
Global Insight Monthly
European equity downgrade: Continental drift
July 2018
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