“Please Accept The Noble Offer of My Steady Hand and Compassionate Heart” -Charlie Sheen to Rob Ford

 

TSX Closes Higher

The Toronto stock market closed higher Friday amid optimism that the U.S. Federal Reserve won’t be cutting stimulus as early as thought. The S&P/TSX composite index rose 51 points to 13,482. The Canadian dollar rose 0.19 of a cent to 95.72 cents U.S. on strong manufacturing data for September. Statistics Canada reported that manufacturing shipments rose 0.6% to $49.9 billionin September. US indices were higher with the Dow Jones ahead 85 points to 15,951. Markets continued to find kift after the woman most likely to succeed Ben Bernanke at the helm of the fed made it clear that she’s prepared to continue the central bank’s low interest policies to keep the U.S. economic recovery on track.

 

Debt Hurts Families

Almost half (44%) of Canadian parents are concerned about how their chidren would be affected if they aren’t able to reduce their amount of debt. A study of Canadian parents from debt-assistance firm MNP Ltd.shows that while most parents believe that they’re competent financial role models for their kids, many believe that how they handle their finances is having a negative impact on their children. Fifty-six per cent of Candian Families avoid discussing family finances with their children. One in five say their relationship with their children has been impacted or strained by their current finacial situation. Twenty-three per cent of parents agree that their children asking them questions about money and family finances causes them anxiety.

 

Sources: Bloomberg, Investment Executive, advisor.ca