“Somewhere, Something Incredible Waits To Be Known” -Carl Sagan

 

North American Markets Down On Positive Jobs Data

Weaker oil prices continued to weigh on the Toronto Stock Exchange Friday and even some stronger showing from the gold miners failed to stop the drop. North American markets closed lower Friday as positive jobs data from the U.S. suggested that the U.S. Federal Reserve is likely to raise interest rates in the fall. The S&P/TSX composite index was down 103.21 points at 14,302.70. In New York, the Dow Jones industrial average was down 46.37 points at 17,373.38, the Nasdaq index fell 12.90 points to 5,043.54, and the S&P 500 declined 5.99 points to 2,077.57.  The loonie lost 0.15 of a U.S. cent to 76.14 cents U.S. On the commodity markets, the December gold contract rose $4.00 to US$1,094.10 an ounce, the September crude oil contract lost 79 cents at US$43.87 a barrel and the September contract for natural gas was down 1.5 cents at $2.798.

 

Boomers Visions of Retirement Off The Mark ?

Baby boomers approaching retirement may be surprised at the realities they will face regarding the timing of their retirement and how they will actually spend their retirement, according to a study conducted for RBC. The 2015 RBC Retirement Myths and Realities poll surveyed pre-retirement baby boomers and retired boomers to see if the expectations of those pre-retirees are consistent with the experience of actual retirees. The results indicate that expectations are often not in line with reality. A striking difference exists, for example, in the issue of choosing when to retire. Eighty per-cent of pre-retirees say they expect to choose their retirement date themselves. But 43% of retirees say they did not make that choice. The reasons they gave include health, the need to be a caregiver to someone else and an employer’s request.

As well, when pre-retirees were asked how they believe they will spend their time in retirement, the most popular answer, from 70% of respondents, is “travel”; 64% say they will take time for themselves. However, the reverse is true for retirees: 72% say they are taking time for themselves and 62% say they are travelling. Respondents were also asked about what they would miss about their working days. Forty-nine per-cent of pre-retirees feel they will miss their paycheque the most. But that is a concern for only 26% of those already in retirement. The most popular response to this question for retirees (51%) was “socializing/interacting with colleagues.”

Ipsos Reid conducted the sixth annual RBC Retirement Myths and Realities poll through online interviews between Mar. 16 and Mar. 24. The survey used a national sample of 2,223 adults aged 50 or older who have household assets of at least $100,000.

 

Market Update as of August 7 2015

North America

The TSX closed at 14303, down -166 points or -1.15% over the past week. YTD the TSX is down -3.06%.

The DOW closed at 17373, down -317 points or -1.79% over the past week. YTD the DOW is down -2.58%.
The S&P closed at 2078, down -26 points or -1.24% over the past week. YTD the S&P is up 0.97%.
The Nasdaq closed at 5044, down -84 points or -1.64% over the past week. YTD the Nasdaq is up 6.71%.
Gold closed at 1091, down -7.00 points or -0.64% over the past week. YTD gold is down -6.91%.
Oil closed at 44.31, down -2.81 points or -5.96% over the past week. YTD oil is down -15.90%.
The USD/CAD closed at 1.313227, up 0.0086 points or 0.66% over the past week. YTD the USD/CAD is up 11.90%.

 

Europe/Asia

The MSCI World closed at 1753, down 7.00 Points or -0.40% over the past week.  YTD the MSCI World is up 2.52%.
The Euro Stoxx 50 closed at 3638, up 37.00 points or 1.03% over the past week.  YTD the Euro Stoxx 50 is up 15.62%.
The FTSE closed at 6719, up 22.00 points or 0.33% over the past week.  YTD the FTSE is up 2.32%.
The CAC closed at 5155, up 72.00 points or 1.42% over the past week.  YTD the CAC is up 20.64%.
The DAX closed at 11491, up 182.00 points or 1.61% over the past week.  YTD the DAX is up 17.19%.
The Shanghai closed at 3744, up 80.00 points or 2.20% over the past week.  YTD the Shanghai is up 15.75%.
The Nikkei closed at 20725, up 177.00 points or 0.68% over the past week.  YTD the Nikkei is up 18.76%.

 

Sources: Bloomberg; Investment Executive; RBC; advisor.ca