“Now and Then an Innocent Person is Sent to the Legislature” – Kin Hubbard


TSX Moves Higher On Financials & Energyl
Financial and energy stocks headed higher Friday helping the main index of the Toronto Stock Exchange to close just higher after losses in the previous session. Oil prices headed higher as the US rig count figures were lower for a 7th straight week. Global stocks were in positive territory beginning with Asian markets which gained on expectation that China may announce additional stimulus. In Europe earnings together with the positive wave from Asia meant a strong finish to the session.

Wall Street managed slim gains amid mixed data; particularly in focus was industrial production slipping slightly. The S&P/TSX Composite Index closed up 9.13 (0.07 per cent). The Dow Jones closed up 74.22 (0.43 per cent). Oil is trending higher (Brent $50.44, WTI $47.22). Gold is trending lower (1177.50). The loonie is valued at US$0.7744.


September Home Sales Down From August
Canadian home sales in September were down from August as some of the country’s hottest real estate markets saw sales cool.  The Canadian Real Estate Association said Thursday that home sales in September through its Multiple Listing Service were down 2.1% compared with August.
The drop came as the number of sales fell in more than half of the local markets led by declines in Vancouver, Calgary and Toronto. Sales in Vancouver were down 3.8% for the month, while Toronto slipped 3.5%. Calgary dropped 7.5%. Compared with a year ago, September sales for the country were up 0.7%. BMO senior economist Sal Guatieri said the Canadian housing market is cooling somewhat. However, prices were “frothy” in the Vancouver and Toronto markets.

The national average price for a home sold in September was $433,649, up 6.1% from the same month a year ago. But, excluding the Vancouver and Toronto markets, the average was $334,705, up 2.9% from September last year. “The story for the Greater Vancouver area and Greater Toronto area is that continued strong demand for a limited supply of detached properties is sending prices through the roof as international migrants, young millennials and an apparent influx of foreign wealth flock to these two areas,” Guatieri said. “The latter could get a significant boost if China further eases foreign investment restrictions on individuals, as proposed later this year in the Qualified Domestic Individual Investor program.”



Market Update as of October 16 2015

North America

The TSX closed at 13838, down -126 points or -0.90% over the past week. YTD the TSX is down -6.21%.
The DOW closed at 17216, up 131 points or 0.77% over the past week. YTD the DOW is down -3.46%.
The S&P closed at 2033, up 18 points or 0.89% over the past week. YTD the S&P is down -1.21%.
The Nasdaq closed at 4887, up 56 points or 1.16% over the past week. YTD the Nasdaq is up 3.38%.
Gold closed at 1176, up 20.00 points or 1.73% over the past week. YTD gold is up 0.34%.
Oil closed at 47.73, down -1.78 points or -3.60% over the past week. YTD oil is down -9.41%.
The USD/CAD closed at 1.29095, down -0.0036 points or -0.28% over the past week. YTD the USD/CAD is up 10.00%.

The MSCI World closed at 1676, up 12.00 Points or 0.73% over the past week.  YTD the MSCI World is down -1.98%.
The Euro Stoxx 50 closed at 3265, up 15.00 points or 0.45% over the past week.  YTD the Euro Stoxx 50 is up 3.77%.
The FTSE closed at 6378, up 38.00 points or -0.59% over the past week.  YTD the FTSE is down -2.86%.
The CAC closed at 4703, up 2.00 points or 0.03% over the past week.  YTD the CAC is up 10.06%.
The DAX closed at 10104, up 7.00 points or 0.08% over the past week.  YTD the DAX is up 3.05%.
The Nikkei closed at 18292, down 147.00 points or -0.08% over the past week.  YTD the Nikkei is up 4.82%.
The Shanghai closed at 3391, up 208.00 points or 6.54% over the past week.  YTD the Shanghai is up 4.84%.

Blog Links

How Is Your Account Doing ? 

Fall Investment Research

Near Year End Tax Tips 

Investment Fees Full Disclosure


Sources: Bloomberg; Investment Executive;  advisor.ca