IAIC Market Update - October 25, 2021

October 25, 2021

Last Week in the Markets: October 18th - 22nd, 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 TSX and Dow reached new all-time highs last week. The TSX has had an unbroken series of thirteen daily gains: last losing value on October 4th.
Overall inflation rate for September was 4.4%, compared with the U.S. rate of 5.4% for the same period. The assumption that current inflation is temporary and related directly to the reopening and recovery of economies is beginning to be questioned. When food, shelter and transportation prices rise, 3.9%, 4.8% and 9.1%, respectively, concern also rises. Eventually inflation will pressure central banks like the U.S Federal Reserve and our Bank of Canada to slow price increases by slowing economic growth. (Source1, Source2)
Evergrande, China’s massive housing builder, continues to struggle with debt repayment issues ($300 Billion) and links to a housing bubble in that country as China’s Gross Domestic Product (GDP) growth stagnates.

What’s ahead for this week?

In Canada, wholesale trade and the raw materials price index for September and two very important indicators for August, the employment report and real GDP, will be announced. On Wednesday the Bank of Canada will release its latest monetary policy announcement.
In the U.S., September’s goods trade deficit, wholesale and retail inventories, durable goods orders, pending home sales and new home sales will be announced. Personal spending and real GDP, also for September, will be the most noteworthy economic indicators released this week.
Globally, GDP, business climate, consumer confidence, unemployment and consumer inflation will be released for Germany. Eurozone figures for GDP, inflation, consumer confidence and money supply are scheduled to be announced.

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