IAIC Market Update - July 4, 2022

July 4, 2022

Last Week in the Markets: June 27th – July 1st, 2022

(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 first half of 2022 concluded with the major indices losing 11% to 29% of their value over the past six months, and 6% to 23% over the past full year.
The S&P 500 is now considered to be in a bear market having declined 20%.
Gold has held its value as a safe-haven investment with a loss of 1½% this year and a gain of almost as much year-over-year. Energy prices (i.e., oil) have rebounded this year and over the past year from about $75 per barrel to $108. Unfortunately, the prices of oil, gas and gasoline are major contributors to the high rates of inflation continuing to be felt around the world. The war in Ukraine, struggling supply chains, and high employment levels with rising wages have pushed consumer inflation to levels not seen in four decades.
Continuing a strong and disciplined approach remains important as the second half begins.

What’s ahead for this week?

In Canada, the Bank of Canada will release its Business Outlook. May building permits, imports, exports and trade balance will be announced along with June employment, unemployment, labour force participation rates.
In the U.S., markets will be closed on Monday to observe Independence Day. The week’s announcements will include durable and factory goods orders, mortgage market data, imports, exports and trade balance, purchasing managers indexes (PMIs), and non-farm payrolls and wages.
Globally, a broad range of indicators will be released in Europe including German imports, exports and trade balance, French current account and industrial production, Italian and German goods and services PMIs. The head of the European Central Bank will make an announcement and release its monetary policy meeting minutes.

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