Last week closed with a mixed bag of earnings results and economic indicators. In the U.S., July unemployment edged up to 4.2%, reinforcing the narrative of a cooling labour market and a strong likelihood of the Federal Reserve implementing an interest rate decrease in September. The bigger question now is how much of a decrease will occur, with pressure from the U.S. government to take greater than a 0.25% rate cut. Tech leadership has also persisted, with the Nasdaq logging fresh record highs despite exceedingly high valuations, especially among a number of AI-led stocks.
In Canada, the July unemployment rate held at 6.9%, keeping attention on domestic growth and the Bank of Canada’s recent interest rate hold at 2.75%. Energy markets eased despite geopolitical tensions, with Brent crude prices falling to a two-month low, suggesting limited supply risk is being priced into the markets for now. Finally, it is a lighter week for earnings reports, with most of the large tech companies having already reported. Although it may be a quieter earnings week, it remains market-relevant: Cisco and Deere report this week, and they could sway views on enterprise tech spend and industrial demand. Looking ahead to next week, earnings from Home Depot and Walmart could provide key insight into consumer spending trends.
Gold has grown exponentially the last couple of years, especially as market variation has risen. We have an excellent article on what you need to know about Gold and why it can be a great diversification tool within the portfolio.
Despite the recent market successes the last few years, the level of cash being held is at all-time
Pickleball is one of the fastest growing sports in North America, which can be enjoyed by juniors and seniors alike! We have a great article on resorts that cater to pickleball players and its craze!
As climate change threatens our water supplies globally, governments around the world are ploughing billions into desalination: making saltwater potable for drinking and watering crops. We have an article that highlights this growing industry and the challenges that go along with it.
The “buy now pay later” method of purchasing items can be risky. We have an article that can help you to use this tool safely and effectively.
Just a reminder that post secondary school will start back in early September. If you require RESP withdrawals for your children or grandchildren attending approved post secondary institutions, we encourage you to reach out to us so that we can get those withdrawals completed in time for when the funds are required. A further reminder: To have the RESP withdrawal processed, you will need to provide evidence of the student’s enrollment in the institution. Often an invoice for the term being billed or a letter from the institution verifying student enrollment is all that is required. If you require help or have questions regarding your RESP account, please don’t hesitate to reach out to Emily ([email protected] or 226-647-4595 ext. 2) and she can assist you.
Also, with back-to-school season just around the corner for elementary and secondary students in our region, ThinkWise is proud to once again support the Waterloo Regional Police Service’s Backpack Challenge. This year, we purchased and contributed dozens of new backpacks filled with school supplies to help local children and families in need. Since the program began, our community has donated more than 22,500 backpacks over the past seven years—an incredible show of generosity that continues to make a difference.
Have an amazing week everyone!
