This week….. Another week another new high for the US #stockmarkets. The Cdn markets didn’t co-operate and were actually down slightly on the week. The market climbs a “wall of worry”. Retail investors have poured in especially seeking yield. But the background remains dangerous, sentiment is overly bullish and numerous indicators are suggesting a top could soon be at hand. The supposed robust US economy surprised on Friday with a considerably lower nonfarm payrolls then people expected. That didn’t stop the market from closing at an all-time high. The Cdn markets as noted fell this past week but it was mostly because of weak #Energy and #Materials. The #Cdnjobs report said 11,000 jobs were lost in August and that the private sector lost 118 thousand jobs. But amazingly 89 thousand jobs were created through self-employment. Canada has had trouble lately with its numbers. US and Cdn #bonds fell this past week after the #ECB cut interest rates to virtually zero and some to #interestrates to negative. Prices bounced back on Friday following the negative nonfarm payrolls report. #Gold and #silver both fell this past week and the gold stocks broke falling a sharp 7%. As in the past gold’s big drops came early in the morning on big volume. Bearish reports abound. #Oil and gas also fell sharply this past week as peace was breaking out in #Ukraine. The energy stocks also fell but overall they continue to hold up well despite the drop in oil prices.
Posted on: Sun, 07 Sep 2014 16:58:23 +0000
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