“Olympics – A Lifetime of Training For Just 10 Seconds” -Jesse Owens
Markets Rise On The Day And On The Week
The Toronto stock market shifted higher Friday as traders focused on concerning data about the Chinese economy, and whether it could lead to broader measures to help boost the global economy. The S&P/TSX composite index closed up 32.76 points at 11,890.89, ending the week with a gain of about two per cent as a more bullish sentiment began to emerge. On Wall Street, the Dow Jones industrial average moved up 42.76 points to 13,207.95 and the broader S&P slid 3.07 points to 1,405.87. The Nasdaq lost 2.22 points to 3,020.86.
The markets rose despite some worries about the direction of the global economy after a series of economic data out of China showed that the world’s second-largest economy is facing a slowdown. The trade surplus with the 27-nation European Union, China’s biggest trading partner, narrowed by 37.9% to US$10.8-billion, reflecting sluggish demand in Europe, which is wrestling with a debt crisis and recession. The figures, which came a day after China reported a slowdown in auto sales and factory output, are likely to heap the pressure on Beijing to take more measures to boost economic growth.
Market Update As Of August 10 2012
The TSX closed at 11891, up 229 points or 1.96% over the past week. YTD the TSX is down -0.54%.
The DOW closed at 13208, up 112 points or 0.86% over the past week.YTD the DOW is up 8.10%.
The S&P closed at 1406, up 15 points or 1.08% over the past week.YTD the S&P is up 11.76%.
The Nasdaq closed at 3021, up 53 points or 1.79% over the past week.YTD the Nasdaq is up 15.97%.
Gold closed at 1622, up 19.00 points or 1.19% over the past week.YTD gold is up 3.64%.
Oil closed at 94.69, up 1.79 points or 1.93% over the past week.YTD oil is down -4.26%.
The USD/CAD closed at 0.9912, down -0.0104 points or -1.04% over the past week.YTD the CAD/USD is up 1.16%.
Sources: Bloomberg, advisor ca, Investment Executive