By Justin Turner CIM, DMS®, CFP®
Stocks have gotten off to a rough start so far in 2015 and the 'January Effect' is nowhere to be found thus far. Energy has continued its slide with crude falling below $48 dollars a barrel today, a level unimaginable only 6 months ago. This of course has had a significant effect on the TSX which fell another 145 points today after falling a whopping 2.5% the day before.
It hasn't been just energy names that have suffered as financials everywhere were hit hard today including Canada's big banks which fell about 1 - 3% on the day. Gold continues to benefit from market turmoil and was up 1.3% on the day. As a result materials stocks moved sharply led by gold stocks highlighted by Goldcorp's 8.1% move on the day.
It remains to be seen if things will turnaround in the near term or if we are in for a rough 2015. Many experts are predicting smaller gains and more volatility in 2015 and sentiment appears to be more negative than it was to kick-off the previous year.
Tuesday, January 06, 2015
Monday, November 10, 2014
Jobs creation on both sides of the border helping move markets higher
By Justin Turner CIM, DMS®, CFP®
Despite a report showing that US corporations hired fewer people than anticipated, the Dow Jones and S&P 500 continued their climb higher and made yet another all time high. Economists were looking for an increase of 235k jobs and the actual number came in at 214k. The unemployment rate edged down to 5.8% from 5.9%. The report marks the 56th consecutive month of private sector job growth. Payrolls have now exceeded by 200k+ for the 9th straight month.
The Canadian economy improved in October with 43,100 jobs being created vs est for a loss of 5,000. The unemployment rate came in at 6.5% vs estimates of 6.9%. The Canadian dollar finished up on the day at 88.24 or 113.35 in reaction. The job numbers combined with the performance of Gold stocks helped the TSX finish the week on a very positive note, up 127 points.
Despite a report showing that US corporations hired fewer people than anticipated, the Dow Jones and S&P 500 continued their climb higher and made yet another all time high. Economists were looking for an increase of 235k jobs and the actual number came in at 214k. The unemployment rate edged down to 5.8% from 5.9%. The report marks the 56th consecutive month of private sector job growth. Payrolls have now exceeded by 200k+ for the 9th straight month.
The Canadian economy improved in October with 43,100 jobs being created vs est for a loss of 5,000. The unemployment rate came in at 6.5% vs estimates of 6.9%. The Canadian dollar finished up on the day at 88.24 or 113.35 in reaction. The job numbers combined with the performance of Gold stocks helped the TSX finish the week on a very positive note, up 127 points.
Friday, October 31, 2014
Japan surprises market with stimulus helping market end October on a high note
By Justin Turner CIM, DMS®, CFP®
After a surprise stimulus move by the Bank of Japan, global markets around the world enjoyed a nice rally to close out the month.
After a surprise stimulus move by the Bank of Japan, global markets around the world enjoyed a nice rally to close out the month.
The Dow Jones was up 195 points, S&P 500 up 23, and the TSX closed up 154. After being down as much as 10% on the S&P 500 on October 15
and 13% for the TSX markets have stormed back and have recovered most of the losses although US stocks have clearly outperformed.
Energy companies led
today in US with Exxon Mobil and Chevron Corp both rising 2.4%. Very
telling with the price of oil down all day. Gold
and Silver slid to the lowest level since 2010. Gold broke through the $1180 low to
settle at $1171 meaning there could be more pain in store.
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