The Q Review: September 2024

Welcome to the Q Review, a monthly report from Qtrade Direct Investing®. Each month, we'll share great information about what's been happening in the markets, what our Qtraders are doing, and what's new with us!

Market highlights from September

Interest Rate Cuts: A Strategic Move

Bank of Canada
The Bank of Canada decided to reduce its interest rate for the third consecutive time this September. This move is particularly significant against the current global economic uncertainties. The aim is to stimulate domestic economic growth by making borrowing cheaper for businesses and consumers. This reduction is anticipated to boost spending and investment, addressing the sluggish growth observed earlier in the year.

U.S. Federal Reserve 
Similarly, the U.S. Federal Reserve has decided to cut its interest rates by 50 basis points. This bold move is part of the Fed's broader commitment to maintaining economic stability and flexibility. The rate cut is designed to mitigate the risk of a slowdown in economic growth and ensure a more robust recovery process.

Inflation Trends: Opportunities Amidst Decline
Canada and the U.S. have witnessed a noteworthy decline in inflation rates, dropping to their lowest levels since February 2021. With Canada's rate at 2% and the U.S. at 2.5%, this period of reduced inflation offers a crucial opportunity to reevaluate investment strategies. As inflation influences purchasing power and consumption, understanding these shifts is vital for making informed investment decisions.

Market Volatility: Challenges and Opportunities
September was characterized by marked volatility, making it a test of resilience for many investors. The markets underwent their worst week of the year early on, causing concern among stakeholders. However, a recovery ensued, leading to record highs by the end of the month.

China's Economic Surge: A New Global Dynamic
In international markets, China recorded its most substantial economic rise in 16 years. This unexpected resurgence highlights the increasing influence of Asian markets on the global economic stage. China's robust economic data underscores its pivotal role in worldwide market dynamics and reaffirms the importance of incorporating emerging markets within diversified investment portfolios.

Most bought and sold securities in September on Qtrade Direct Investing

Most purchased securities on Qtrade Direct Investing – September 2024

1. ISHARES CORE EQUITY ETF PORTFOLIO
2. ISHARES PREMIUM MONEY MARKET ETF
3. ISHARES CORE GROWTH ETF PORTFOLIO
4. BCE INC
5. NVIDIA CORP
6. VANGUARD S&P 500 INDEX ETF

Most sold securities on Qtrade Direct Investing – September 2024

1. BANK OF NOVA SCOTIA
2. NVIDIA CORP
3. ISHARES PREMIUM MONEY MARKET ETF
4. ENBRIDGE INC
5. BCE INC
6. TORONTO DOMINION BANK
7. TESLA INC
8. CIBC
9. TELUS CORP
10. BNS INVESTMENT SAVINGS ACCOUNT SERIES F

The latest from Qtrade

• The Great Wealth Transfer: Learn about what the transfer of wealth from Baby Boomers to younger generations means for your investment strategy.

• Investing based on your time horizons: Discover how your investing strategy should evolve depending on your time frame and financial goals.

We’re thrilled to announce that our new Qtrade Mobile app has received recognition from the CIO Awards Canada. This acknowledgment underscores our commitment to innovation and enhancing user experience for our clients. The app offers features like real-time quotes, seamless trading, and enhanced security, making it an essential tool for investors on the move. Download it today and see why it’s a game-changer in digital investing.