Market View

U.S. President Trump announced 25% tariffs on more than $400 billion worth of automotive imports, which took effect on April 3 and expanded the global trade war with allies. On the other hand, the U.S. economy grew 2.4% in the fourth quarter of 2024, which was supported by a year-end surge in consumer spending, but it is uncertain if this healthy growth can be sustained given the geopolitical uncertainty. The Canadian dollar was 69.86 cents USD. The U.S. S&P500 ended the week up 1.7%, while the TSX was up 0.7%.

Another week of greens and reds mixed. Consumer staples added 1.4%, while energy and materials added 0.6% and 0.2%, respectively. Technology gave up 4.7%, while consumer discretionary and real estate edged lower by 1.5% and 0.8%, respectively. Industrials ended the week down 0.5%, while financials gave up 0.2%. The most heavily traded shares by volume were Toronto-Dominion Bank (TD), TC Energy (TRP), and Royal Bank of Canada (RY).

5 from 5i

Here are five reads we found interesting last week:

• Best Investments to Own During a Recession, by Amy C. Arnott of Morningstar.
• Retirees and Preretirees: It’s Not Too Late to Derisk Your Portfolio, by Christine Benz of Morningstar.
• Why Trend Following is Harder Than it Looks, published by Nick Maggiulli of Of Dollars and Data
• When Buy-and-Hold Dies, published by Ben Carlson of Ritholtz Wealth Management LLC
• What is the Point of Money?, written by Ben Carlson of Ritholtz Wealth Management LLC

Happy Reading & Stay Safe!

Disclosure: The analyst(s) responsible for this report do not have a financial or other interest in securities mentioned.