“My IQ is One of the Highest and You All Know It.” -Donald Trump

 

TSX Slips Friday after Oil, Gold Slump

Canada’s main stock index fell on Friday, led by weakness in gold stocks after gold fell to the lowest in five years, while energy shares fell after fresh concern about China helped drive crude oil prices lower. However, the Canadian equity market, one of the worst-performing in the world this year amid a slump in commodities prices, is poised to beat its U.S. peers for the first time since 2010 next year as investors have gotten overly pessimistic, according to BMO Capital Markets Chief Investment Strategist Brian Belski.  “Canada is down, but not out,” Mr. Belski said in a 2016 market outlook report to clients Nov. 25. “The recovery we expected in the fourth quarter has only been delayed and is one of the main reasons we believe Canada will be a surprise outperformer in 2016. Any positive news stemming from emerging markets, Europe and commodity prices will likely be a strong positive tailwind for Canadian stocks.” The Standard & Poor’s/TSX Composite Index fell 56.95 points, or 0.42 per cent, to 13,368.24 at in Toronto. It has dropped 8.6 per cent this year, trailed only by Singapore and Greece among developed markets.
U.S. stock markets closed three hours earlier following the Thanksgiving holiday on Thursday, with many traders taking the day off. The Dow Jones industrial average fell 14.9 points, or 0.08 per cent, to 17,798.49, the S&P 500 gained 1.24 points, or 0.06 per cent, to 2,090.11 and the Nasdaq Composite added 11.38 points, or 0.22 per cent, to 5,127.53.

 

Most Canadians Don’t Have A Budget

Many Canadians can improve their financial well-being simply by following a budget, says a report by the Financial Consumer Agency of Canada. Though 93% of people who have a budget stick to it most of the time, only 46% of people have a budget. Older Canadians, aged 60 years or older, are the most likely (95% or more) to say they always or usually adhere to their budget.  Completing post-secondary education goes hand-in-hand with better financial management and well-being.  The study also reports that, while two-thirds of working people are preparing financially for retirement, almost the same proportion say they don’t know how much they should save.  On the bright side, many Canadians are keeping up with bills and payments and saving for their children’s education. Two-thirds of Canadians check their account balances daily or weekly. The most common debts people hold are mortgages, credit cards and lines of credit.

 

Black Friday Wisdom from the Money Queen

“No Deal is better than a Bad Deal”. Do your homework before buying especially online from the States. With the rise of the US dollar, buying from the US is hardly worth it anymore. Americans are actually coming to Canada to get the bargains. And never forget: It does not matter if it is 75% off, if you don’t need it, you shouldn’t buy it. Happy wise shopping!

LINK

Money Queen Wisdom

 

Sources: Bloomberg; Investment Executive;  advisor.ca,