IAIC Market Update - April 5, 2021

April 5, 2021

Last Week in the Markets: March 29th - April 1st, 2021

(source: Bloomberg https://www.bloomberg.com/markets, MSCI https://www.msci.com/end-of-day-data-search and ARG Inc. analysis)

What happened last week?

The markets were closed on Friday, and the shortened week proved to be a spring tonic for most investments. The equities indices and oil gained, while the Canadian dollar essentially broke-even and gold lost value only slightly.
It was mostly news from the U.S. which drove values higher, evidenced by the Dow’s new record high and the S&P 500 rising above 4,000 for the first time. The vaccine schedule is accelerating with many American states beginning to include all adults in the rollout as more than 200 million are expected to have received at least one dose in the near future. Pfizer announced that its vaccine was safe and highly effective for early teens. Fiscally, the Biden administration unveiled its infrastructure plan with expenditures totaling $2.25 Trillion. Transportation, manufacturing, workforce development, housing, elderly care, electrical and broadband grid and clean energy are all included.
In Canada our Gross Domestic Product (GDP) numbers for January was revised higher. The TSX reflected this and finished the week just below 19,000 points. The leading Canadian index has gained nearly 9% in 2021, one of its best quarters, and is currently beating the major U.S. indices in Year-to-Date performance, which is a rare achievement. The TSX gain has been across many sectors to achieve this large an increase this early in the year. (Source)

What’s ahead for this week?

In Canada, February’s merchandise trade balance will be announced along with Canadian employment numbers for the month of March. The reopening should be reflected in the jobs growth achieved last month.
In the U.S., the scheduled announcements for the week include February’s factory orders, wholesale inventories, and the goods and services trade balance. The Federal Reserve Chair, Jerome Powell, will join a combined World Bank and International Monetary Fund meeting to debate the global economy in 2021.
Globally, European markets remain closed on Monday, while its jobless rate for the region will be posted on Tuesday. Mid-week, the G20 finance ministers and central bank governors will meet via videoconference.

For more information contact:
Independent Accountants’ Investment Counsel Inc.
135 Main St. E. Listowel, ON
Phone: 519-291-2817 or TF: 1-877-291-3040
icpmss@iaic.ca

This report is produced by Independent Accountants' Investment Counsel Inc (“IAIC”) in conjunction with ARG Inc. All graph and chart statistical data contained in this report has been supplied by ARG Inc. The views and opinions expressed in this report are based on market statistics. No guarantee of outcome is implied and opinions may change without notice. Investors should not base any of their investment decisions solely on this report nor should any opinions expressed within this report be construed as a solicitation or offer to buy or sell any securities mentioned herein. Although the information contained in this report has been obtained from sources that IAIC believes to be reliable, we do not guarantee its accuracy, and as such, the information may be incomplete or condensed. All opinions, estimates and other information included in this report constitute our judgment as of the date hereof and are subject to change without notice.

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Southwestern Ontario's Top Employers Award

Southwestern Ontario's Top Employer Award Winner

February 5, 2025

We are th rilled to announce Ward & Uptigrove was selected as a recipient of the Southwestern Ontario's Top Employers Award for 2025. The award is based on the following criteria: 1. Workplace, 2. Work Atmosphere and Social, 3. Health, Financial and Family Benefits, 4. Vacation and Time-Off, 5. Employee Communications, 6. Performance Management, 7. Training and Skills Development, 8. and Community Involvement! Here are some of the reasons why Ward & Uptigrove was selected as one of Southwestern Ontario's Top Employers (2025): Ward & Uptigrove increased its full-time workforce in Canada by over 13 per cent in the past year and lets everyone benefit in the company's success with profit-sharing -- the company also offers generous referral bonuses of up to $5,000 per successful candidate as an incentive for employees to recruit friends Ward & Uptigrove hosts three major social events each year, giving employees the opportunity to unwind and connect with food, beverage and entertainment covered by the firm's partners -- events include a post-tax season party (employees plus a guest), a fall golf tournament, and an annual holiday celebration Ward & Uptigrove matches employee donations in kind, and encourages them to lend a helping hand in the community with a paid day off to volunteer Emily MacRobbie, human resources manager at Ward & Uptigrove, says clients appreciate the close connections and sense of care their small-town environment fosters. “We’re big enough to attract and retain some of the best and brightest minds in the industry, while simultaneously being small enough that staff and clients are known on a more personal level,” says MacRobbie. “Employees really appreciate the flexibility the firm offers, such as work location (in office or hybrid) and hours of work arrangements. We keep a pulse on what’s happening and make sure we remain competitive with things like paid time off and flexible health benefits.” To learn more about career opportunities at Ward & Uptigrove visit www.wardanduptigrove.com/careers