Monthly Archives: February 2015

Terry Broaders

Weekly Update February 24 2015

“Prejudices Are What Fools Use for Reason” -Francois-Marie Arouet, aka Voltaire


TSX Little Changed As Greece Secures Bailout Extension

The Toronto stock market closed little changed Friday amid relief that Greece and its eurozone partners had agreed to extend by four months the bailout loans that have kept the country afloat. The S&P/TSX composite index declined 8.09 points to 15,172.24. In return for the extension, Greece committed not to pursue any “unilateral” measures that might affect the country’s budget targets. Greece has committed to provide a list of reforms based on its current bailout program for assessment on Monday. The Canadian dollar moved down 0.3 of a U.S. cent to 79.71 cents as Statistics Canada reported retail sales slid 2.1 per cent in December to $42.1 billion, the largest decline since April 2010. New York’s Dow Jones industrials jumped 154.67 points to 18,140.44, the Nasdaq gained 31.27 points to 4,955.97 and the S&P 500 index was up 12.85 points to 2,110.3. Oil prices continued to lose ground on data showing high supply levels in the U.S., down $1.02 to US$50.81 a barrel.


Working Canadians Worried About Running Out of Money in Retirement

More than half of working Canadians are uncertain whether they have the knowledge to plan for retirement, according to a Sun Life Financial Inc poll. While 47% of Canadians surveyed feel they have the knowledge to plan their retirement, 53% are unsure of whether they know enough to plan for their retirement. People have doubts regarding retirement, with 41% feeling they lack sufficient knowledge regarding how much retirement income they will need. Also, 37% are unaware of how taxes will affect their retirement savings and income. Only half of Canadians are able to state how many years of retirement they expect to have. Despite this lack of certainty, only 22% of Canadians have a written financial plan and only 33% work with a financial advisor. More than one-third of working Canadians believe they risk running out of money in retirement, as opposed to one in seven retirees who feel the same.

For the first time since Sun Life Financial began the survey, the number of Canadians who expect to be working full time past the age of 65 has now surpassed those who believe that they will be fully retired. This number has grown over the past seven years as three out of five Canadian workers now expect to work either full time or part time when they retire. When working Canadians were asked the top reason as to why they expect to be working past traditional retirement age, 21% said it was to earn enough money to pay basic living expenses; 18% of Canadians, don’t believe that government pensions will suffice and 16% would like to earn enough money to live well. The survey was conducted by Ipsos Reid between Dec. 5 and 22, 2014. A sample of 3,000 Canadians between the ages of 30 and 65 were interviewed online.


Market Update as of February 20 2015

The TSX closed at 15171, down -99 points or -0.65% over the past week. YTD the TSX is up 2.83%.

The DOW closed at 18140, up 121 points or 0.67% over the past week. YTD the DOW is up 1.72%.

The S&P closed at 2110, up 13 points or 0.62% over the past week. YTD the S&P is up 2.53%.

Terry Broaders

Weekly Update February 17 2015

“I Am a Proud Non-Reader of Books” -Kanye West


TSX Posts Highest Close In Almost 5 Months

The Toronto stock market advanced for a fifth straight session Friday amid data showing solid economic growth in Europe and an unexpectedly strong performance by Canadian manufacturers. The S&P/TSX composite index was ahead 36.29 points to 15,264.81, its highest close in almost five months.  The Canadian dollar rose 0.19 of a cent to 80.25 cents US as Canadian manufacturing sales rose 1.7 per cent in December. That was far higher than the 0.5% reading that economists had expected. New York indexes were positive despite slipping consumer confidence. The University of Michigan’s consumer confidence index came in at 93.6 in February, lower than the 98.5 reading that economists expected.  The Dow Jones industrials was ahead 46.97 points at 18,019,35, the Nasdaq gained 36.23 points to 4,893.84 and the S&P 500 index was up 8.51 points at 2,096.99. The German economy grew by 0.7% in the fourth quarter, much better than the 0.3% increase that had been expected. Overall economic output across the eurozone was 0.3% higher in the quarter compared with the previous three months. That equated with an annualized growth rate of just 1.2%, but still better than the 0.2% increased anticipated by investors.  The TSX found support from the energy sector, up 0.9% as March crude advanced $1.57 to US$52.78 a barrel. The TSX gained 181 points or 1.2% this week, its fourth straight weekly gain.


Worst Ways To Quit a Job

How you quit a job can impact your future career opportunities, finds a new survey by OfficeTeam.  The survey was developed by OfficeTeam, a leading staffing service. It was conducted by an independent research firm and is based on telephone interviews with more than 600 HR managers in the United States and Canada. The vast majority (86%) agreed resigning in an unprofessional manner can either greatly affect or somewhat impact people’s reputations and ability to impress prospective employers. Typically, most people resign by informing their managers and giving notice. However, many of the HR managers surveyed gave examples of employees they’ve dealt with who’ve preferred to leave bigger impressions.

For example, one manager noted an employee once baked and delivered a cake that had her resignation letter written top, while another recalled one staffer who hired a marching band to accompany him as he announced he was quitting. One worker threw a cup of coffee and walked out.  In some cases, employees preferred to go more quietly by relying on email, text or Facebook messages. And in one case, an HR manager recalled receiving a Post-It note from a departing staffer. Whichever way you choose to quit a job, your goal should always be to make sure you’re leaving on the best terms possible, says Robert Hosking, executive director of OfficeTeam. “Doing a great job when you start a new role is expected, but doing a great job as you leave can cement your reputation” as a professional. He adds, “It’s best to schedule a meeting with your manager to discuss your resignation, and give notice.” It’s also key to keep conversations positive and offer to train your replacement if possible.



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Market Update As Of February 13 2015

The TSX closed at 15270, up 186 points or 1.23% over the past week. YTD the TSX is up 3.50%.

The DOW closed at 18019, up 195 points or 1.09% over the past week. YTD the DOW is up 1.04%.

The S&P closed at 2097, up 41 points or 1.99% over the past week. YTD the S&P is up 1.90%.

The Nasdaq closed at 4894, up 150 points or 3.16% over the past week. YTD the Nasdaq is up 3.53%.

Gold closed at 1228, down -6.00 points or -0.49% over the past week. YTD gold is up 4.78%.

Oil closed at 52.74, up 0.70 points or 1.35% over the past week. YTD oil is up 0.09%.

The USD/CAD closed at 1.246032, down -0.0065 points or -0.52% over the past week. YTD the USD/CAD is up 6.18%.


Sources: Bloomberg; Investment Executive;; Office Team