Market News: Week Ending April 17, 2026

Market News– Week Ending April 10, 2026

The U.S. Bureau of Labor Statistics reported that its Producer Price Index – Final Demand (PPI-FD) climbed 0.5% higher (seasonally adjusted) in March, following a revised 0.5% increase in February (originally reported as 0.7%). The index rose 4.0% for the 12 months ended March 2026, up from the 3.4% now posted for February and the fastest pace since February 2023 (4.7%). With the revisions, these results are somewhat lower than market expectations. Market participants remain highly focused on price pressures in the U.S. economy and the likelihood that the energy volatility will increase broader inflationary pressures. 

The U.S. Department of Labor announced that initial jobless claims totalled 207,000 (seasonally adjusted) in the week ending April 11, a decrease of 11,000 from the previous week's revised level. The previous week's level was revised down by 1,000 from 219,000 to 218,000. The 4-week moving average was 209,750, an increase of 500 from the previous week's revised average. The previous week's average was revised down by 250 from 209,500 to 209,250. These results are marginally stronger than market estimates. 

The U.S. Federal Reserve announced that industrial production declined 0.5% in March, following a revised 0.7% advance in February. On a year-over-year basis, industrial production was reported to have been up 0.7%. At the same time, capacity utilization for total industry stood at 75.7% March, down from the 76.1% level reported in both February of this year and March of 2025. These results are weaker than the market consensus and show some volatility across the industrial sector. 

The Canada Mortgage and Housing Corporation announced that housing starts plummeted 6.0% to 235,852 units (seasonally adjusted annual rate) in March. This is down from February’s revised 250,961-unit level (originally reported as 250,900). The CMHC’s six-month trend level (which tends to smooth the results) was 248,378 in this report, down 2.9% from February. Given the dramatic shortfall in housing availability, these statistics are taking on greater importance. With the market looking for a monthly gain, these results are considerably weaker than consensus expectations. Activity in the housing market has a significant "ripple" effect on the broader economy. 

 

Regards,

Glenn

Note:
All index performance is in Canadian dollars.

IMPORTANT DISCLAIMERS
The information in this letter is derived from various sources, including CI Global Asset Management, CRA, Bloomberg, National Post, Globe and Mail, Wall Street Journal, Bloomberg, Reuters, Investment Executive, Advisor.ca, MarketWatch, Toronto Sun, The Guardian, MSN.ca and Statistics Canada at various dates. This material is provided for general information and is subject to change without notice. Before acting on any of the above, please contact me for individual financial advice based on your personal circumstances. Certain statements contained in this communication are based in whole or in part on information provided by third parties and CI Global Asset Management has taken reasonable steps to ensure their accuracy. Market conditions may change which may impact the information contained in this document.