“Someone's sitting in the shade today because someone planted a tree a long time ago." – Warren Buffett
Last Week’s Overview
| Index | Performance |
| TSX Composite | 1.29% |
| Dow Jones |
1.54% |
| S&P 500 | 1.18% |
| NASDAQ | 1.82% |
Source: Bloomberg (Aug 28, 2026)
Weekly Insights
Each week, we break down the key events and market movements shaping the investing landscape. From economic data to investor sentiment and global headlines, this section captures what mattered most, and how it impacted markets.
Nvidia's Outlook Points to a Longer AI Investment Cycle
Nvidia raised the bar for the years ahead, guiding to roughly 70% revenue growth in fiscal 2028 against the 45% analysts expected, and projecting about $108 billion in revenue this quarter versus a $105.2 billion estimate. Second-quarter revenue more than doubled from a year ago to $96.2 billion, with data centre revenue of $89 billion showing that demand from large cloud customers such as Amazon and Google remains exceptionally strong. Management noted demand is actually accelerating and could be stronger still if more supply were available, which tells us the limiting factor today is manufacturing capacity rather than customer appetite, and that supports our continued exposure to established technology leaders.
Source: Bloomberg (August 27, 2026)
Technology Gains Spread Well Beyond the Chipmakers
Technology shares moved higher on Nvidia's forecast, with Nvidia up about 7.8%, a widely followed software ETF up 6.5% on encouraging outlooks from Salesforce and CrowdStrike, and the Nasdaq 100 up roughly 1.1% against about 0.5% for the S&P 500. What encourages us most is that the gains were backed by real second-quarter earnings rather than sentiment alone, and they extended past semiconductors into software, cloud infrastructure, and enterprise applications. Even with the 10-year Treasury yield near 4.66%, investors kept rewarding businesses producing genuine revenue and earnings growth, which is precisely the type of company we look to own.
Source: Bloomberg (August 27, 2026)
Salesforce Shows AI Turning Into Real Business Results
Salesforce guided to approximately $11.5 billion in fiscal third-quarter sales, slightly ahead of expectations, with contracted future revenue expected to grow about 14% versus the 13% analysts anticipated and net orders at their strongest level in 4 years. Its Agentforce products are now expected to contribute roughly $1.5 billion in revenue this year, up from $1.2 billion reported last quarter, and an expanded partnership with Anthropic brings Salesforce data directly into the Claude assistant. Shares rose as much as 19%, their largest intraday advance since August 2020, and the message pairs neatly with Nvidia: one company builds the infrastructure, the other shows businesses actually putting it to work.
Source: Bloomberg (August 27, 2026)
Key Drivers of Our Outperformance
We believe in transparency when it comes to where our outperformance is coming from. This section spotlights a top-performing company we hold, a sector where we've taken a winning position, and a strategy that has driven recent success across our portfolios.
- Company Highlight: Meta Platforms Inc. (META)
- Meta is our company highlight this week with a 5.51% increase. Confidence returned to the core advertising story as analysts pointed to steady revenue growth from AI-driven improvements, along with the possibility of earning additional income from spare computing capacity. An August 26 agreement with U.S. attorneys general also settled a long-running legal question at a cost the market viewed as manageable relative to what had been at stake, clearing an overhang that had weighed on the shares.
- Source: Optimize Asset Management (Aug 27, 2026)
- Sector Highlight: Communication Services
- Communication Services was our strongest sector last week, led by Meta with additional gains from AT&T at 2.99%, Disney at 2.53%, and Verizon at 1.68%. The mix here is deliberate: fast-growing digital platforms alongside telecom businesses that generate steady, recurring cash flow through almost any economic backdrop. Alphabet slipped 0.76% on the week, a useful reminder that results within a single sector can differ meaningfully, and that selecting the right leaders matters far more than simply owning the sector.
- Source: Optimize Asset Management (Aug 27, 2026)
- Style Highlight: Quality
-
Our Quality strategy delivered the strongest style contribution, led by Microsoft, which rose 2.49%, and Visa, which gained 4.62%. Berkshire Hathaway, BlackRock, and Linde each contributed as well, spreading that strength across technology, financial services, insurance, asset management, and industrial gases rather than a single theme. Quality simply means owning businesses with dependable earnings, strong balance sheets, and durable competitive advantages, and those are exactly the companies investors gravitate toward when inflation and interest rates stay elevated.
-
Source: Optimize Asset Management (Aug 27, 2026)
What To Look For Next Week
We also look ahead to the economic reports, events, and earnings that may influence the week ahead. From inflation and jobs data to corporate updates from key market players, this section keeps you informed on what's coming, and why it matters.
- Bank of Canada Interest Rate Decision (Wednesday, September 2): The Bank of Canada announces its next interest rate decision Wednesday, having held its overnight rate at 2.25% for 6 consecutive decisions. In its most recent statement, the Governing Council pointed to signs of improvement in the Canadian economy and noted that the sources of expansion are broadening, with new projections showing GDP growth of 2.75% this year before rebounding to 3.25% next year. Inflation is expected to ease as earlier energy cost pressures fade, with CPI converging toward the 2% target next year, and the rate path matters to portfolios because it shapes borrowing costs, bond prices, and the valuations investors will pay for growing companies.
Source: BoC Interest Rate Decision | Bank of Canada (August 27, 2026)- Canadian Employment Report (Friday, September 4): Statistics Canada releases August employment data Friday morning, and the latest reading gave us plenty to be encouraged about. The unemployment rate fell to 6.4% from 6.5%, the lowest jobless rate in 2 years, while net employment rose 75,100 against expectations of 15,000 to mark a third straight monthly gain. Participation also climbed 0.1 percentage point to 65.1%, the highest so far this year, and that combination of more people working and more people looking for work is a constructive signal for consumer spending and for the Canadian businesses we hold.
-
Source: Statistics Canada (August 27, 2026) - U.S. Employment Report (Friday, September 4): The U.S. jobs report arrives the same morning, and the most recent reading showed the unemployment rate easing to 4.1% from 4.2%. The number of unemployed fell by 178,000 to 6.916 million, and the broader U-6 measure, which includes discouraged and underemployed workers, held steady at 7.9%. Labour force participation eased to 61.4%, so we will be watching whether August draws people back into the workforce, since employment trends feed directly into consumer spending, corporate profits, and the Federal Reserve's thinking on interest rates.
Source: U.S. Bureau of Labor Statistics (August 27, 2026)
Source of All Economic Data: Bloomberg
Disclaimer: This report is for informational purposes only and does not constitute investment advice. Please consult with your financial advisor before making any investment decisions.