Weekly market wrap Oct. 27, 2017: Unstoppable stock indices ride tech wave to new heights
12/14/2018 12:28:12 PM
HOME : FEATURES : COLUMNS : Weekly market wrap Oct. 27, 2017: Unstoppable stock indices ride tech wave to new heights
Fund Library News
News, announcements, and updates from Fund Library

By Fund Library News Wire  | Friday, October 27, 2017


By Mike Keerma

* Unstoppable stock indices ride tech wave to new heights.
* Horizons launches international dividend ETF.
* RBC introduces bond and bank ETFs.

* Unstoppable stock indices ride tech wave to new heights.
The surging technology sector and strong third-quarter gross domestic product growth (3.0% annual rate) were the drivers helping power the major U.S. stock indices to another week of record high closes. Strong earnings reports from tech giants Alphabet Inc. (NASDAQ: GOOGL) , Microsoft Corp. (NASDAQ: MSFT), Intel Corp. (NASDAQ: INTC), and Amazon.com Inc. (NASDAQ: AMZN) lifted the Nasdaq Composite Index to a 1.1% gain on the week, closing at an all-time high and its fifth consecutive weekly advance. The S&P 500 Composite Index also felt the tech wind beneath its wings, closing Friday with a 0.3% gain on the week, also with a record high close. Following suit, Toronto’s benchmark S&P/TSX Composite Index ended the week with a record high close of 15,953.51 on Friday, posting a 0.6% gain on the week, as the Bank of Canada kept its key interest rate unchanged at 1%, while the price of crude oil advanced 3.7%.

* Horizons launches international dividend ETF. Horizons ETFs Management debuted its Horizons Active Intl Developed Markets Equity ETF (TSX: HADM). The fund holds high-quality, dividend-paying companies in international developed markets outside of North America, including Europe, Australasia, and the Far East. The fund is sub-advised by the systematic equities group from Guardian Capital LP.

* RBC introduces bond and bank ETFs. RBC Global Asset Management launched five new bond exchange-traded funds and one new bank-focused ETF.

RBC PH&N Short Term Canadian Bond ETF (TSX: RPSB) invests primarily in a diversified portfolio of short duration Canadian government and corporate bonds, as well as Canadian bonds issued by foreign corporations.

RBC 6-10 Year Laddered Canadian Corporate Bond Ladder ETF (TSX: RMBO) is an actively managed rules-based portfolio of Canadian bonds with a term to maturity ranging from six to 10 years.

RBC Short-Term U.S. Corporate Bond ETF (TSX: RUSB) invests primarily in short duration U.S. corporate bonds and is the first active short-term U.S. fixed income ETF in Canada.

RBC BlueBay Global Diversified Income (CAD Hedged) ETF (TSX: RBDI) holds a portfolio of diversified global bonds.

RBC Canadian Bank Yield Index ETF (TSX: RBNK) tracks the performance of a portfolio of the largest six Canadian bank stocks.

Check Fund Library’s Market Activity page regularly for active updates on key market indexes and commodities.

@FundLibrary – Follow Fund Library on Twitter for daily information and updates.


© 2017 by Fund Library. All rights reserved. Reproduction in whole or in part by any means without prior written permission is prohibited.

The foregoing is for general information purposes only and is the opinion of the writer. No guarantee of investment performance is made or implied. It is not intended to provide specific personalized advice including, without limitation, investment, financial, legal, accounting or tax advice.

Home |  Features |  Member Services |  Tools |  Funds |  About Us
For any questions or problems with this site, please contact the Librarian.
Page ID: 20:40:1051:00016419:9/12/2017:3:10:55 PM Duration of this visit: 0 sec.