“The Aim of Argument Should Not Be Victory But Progress” – Joseph Joubert

Optimism Buoys the Markets

Optimism buoyed the TSX and markets around the globe Friday after the president of the European Central Bank says it would continue its “crucial role” of making sure the financial system has sufficient cash. The S&P/TSX composite index moved ahead 58.48 points to 11,524.90, up 0.2% for the week. Concerns have been growing over the elections in Greece on Sunday and whether Athens will be forced to leave the euro currency union if the elected party doesn’t support the tough austerity terms of the country’s financial bailout package. Greece’s exit from the euro could have a widespread impact on other European countries.

Optimism buoyed the TSX and markets around the globe Friday after the president of the European Central Bank says it would continue its “crucial role” of making sure the financial system has sufficient cash. The S&P/TSX composite index moved ahead 58.48 points to 11,524.90, up 0.2% for the week. Concerns have been growing over the elections in Greece on Sunday and whether Athens will be forced to leave the euro currency union if the elected party doesn’t support the tough austerity terms of the country’s financial bailout package. Greece’s exit from the euro could have a widespread impact on other European countries.

 

Market Update as of June 15, 2012

 

The TSX closed at 11500, up 139 points or 1.22% over the past week. YTD the TSX is down -3.81%.

The DOW closed at 12554, up 435 points or 3.59% over the past week.YTD the DOW is up 2.75%.

The S&P closed at 1326, up 48 points or 3.76% over the past week.YTD the S&P is up 5.41%.

The Nasdaq closed at 2858, up 111 points or 4.04% over the past week.YTD the Nasdaq is up 9.71%.

Gold closed at 1594, down -12.00 points or -0.75% over the past week.YTD gold is up 1.85%.

Oil closed at 84.4, up 1.12 points or 1.34% over the past week.YTD oil is down -14.66%.

The USD/CAD closed at 0.9733, up 0.0128 points or 1.33% over the past week.YTD the CAD/USD is down -0.66