December 12, 2012 Market Update

Well today is 12/12/12 and other than the fact it won’t happen again for 100 years (on which the date will be 12/12/2112 for Rush fans out there) I really don’t understand the significance but I digress.

A slow but positive morning as Europe is up on some great employment numbers out of the UK. Unemployment declined by 82000 in Q3 which is the biggest drop in over 11 years! Markets are showing a quarter point increase at midday.

In the US the FOMC concludes the two day meetings today and it would seem that we may see some further stimulus as the bond market is telling all that inflation is not an issue at present. That has the futures up about a quarter point in early trading.

Gold is trading higher by $8.00 back up through $1715 this morning and oil is up a half a point to $86.28.

As we get closer to the holidays we are seeing volumes decline somewhat but the current trend remains positive.

Lastly this morning some information for all around the holiday season:

– last trading day in Canada for settlement this year (tax loss selling) is Monday December 24th, 2012.

– last trading day in the US for settlement this year is Wednesday December 26th, 2012.

– Markets are open for the full day Monday December 24th, 2012.

– The Canadian markets are closed Tuesday and Wednesday December 25th and 26th and reopen Thursday December 27th.

– The US markets are closed on Tuesday December 25th and reopen Wednesday December 26th (as it is a statutory holiday in Canada our offices will be closed December 26th).

– Markets in both Canada and the US are open for the full day Monday December 31st, closed New Year’s Day and reopen Wednesday January 2nd, 2013.


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