IAIC Market Update - July 26, 2021

July 26, 2021

Last Week in the Markets: July 19th - July 23rd, 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?

Last week in the markets, gold was the only loser as all of the other indicators increased in value. The TSX and Dow each gained a little more than 1% as the S&P 500 and NASDAQ gained, 2% and 3%, respectively.
The positive finish for the week belies the turmoil that preceded the strong finishes for equity indices. The Dow started the week by dropping 2% on Monday. By the close of markets on Monday the S&P 500 and TSX had dropped about 3% in less than a week. By the end of the week the U.S. indices had not just recovered, they touched all-time highs.
The expectation that volatility will rise as we emerge from the pandemic materialized last week.
The prevalence of the Delta variant of the virus has caused increased cases in many nations.
Vaccination rates vary dramatically between nations and are, generally, slowing in the U.S., particularly outside major cities.

What’s ahead for this week?

In Canada, inflation data for June will be released by StatsCan through the Consumer Price Index. May’s Gross Domestic Product (GDP) will represent the overall economic rebound as vaccination rates were climbing and reopening was being carefully managed six to ten weeks ago.
In the U.S., June’s new home sales, durable goods orders and pending home sales will be announced. GDP for the second quarter will be released along with July’s consumer confidence. On Wednesday, the Federal Reserve announcement will be immediately followed by a press conference with the Fed’s Chair, Jerome Powell.
Globally, the upcoming week’s calendar includes Japan’s manufacturing purchasing managers index and jobless rate, Germany’s consumer confidence, unemployment and CPI. Also, several indicators for the Eurozone will be announced and include economic and consumer confidence, GDP, CPI and employment numbers.

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