Provided by iA Clarington
Please find below our summary and snapshot of iA Clarington's commentary on how the markets did in the month of April as well as noting the occurrences.
The Fed raised rates by 25 basis points
Most likely more aggressive rate hikes to come (approx. 6 this year)
Equity indices reacted favorably to the tightening and possibility of a ceasefire negotiation between Russia and Ukraine
S&P 500 up 8% from lowest point of 2022
Q1 worst quarter for U.S. stock since 2020
Canada did much better due to commodity prices surging in which supported domestic equity market
Canada's S&P/TSX composite was 3.6% higher in March resulting in a 3.1% improvement in Q1
It is notable that both energy and materials led with gains of 27.4% and 19.7%
Information technology sector was the main detractor for the quarter, with the decline of 35.5% small cap stocks
U.S. Dollar depreciated 1% versus the loonie during the quarter
U.S. based stocks rose 1.9% in March but ended the quarter lower by 6.2%
Loss was led by telecommunication, consumer discretionary, and info tech (-13.3%, -10.4%, -9.8%)
Energy and utilities were only 2 sectors in the green during Q1 gaining 35.8% and 2.6%
International stocks lost 7.8% while EM lost 8.5%
Canadian investment grade bond declined 7%, global high yield issues were down 4.8% and key global investment grade bond were down 6.2%
The comments contained herein are a general discussion of certain issues intended as general information only and should not be relied upon as tax or legal advice. Please obtain independent professional advice, in the context of your particular circumstances. This article was written, designed and produced by [Name of the advisor], who is a Financial Advisor for Cannell Wealth Management, a trade name of Investia Financial Services Inc., and does not necessarily reflect the opinion of Investia. The information contained in this newsletter comes from sources we believe reliable, but we cannot guarantee its accuracy or reliability. The opinions expressed are based on an analysis and interpretation dating from the date of publication and are subject to change without notice. Furthermore, they do not constitute an offer or solicitation to buy or sell any securities. Contents copyright by the publishers. The information contained herein may not apply to all types of investors.
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