June 12th, 2013 Market Update

After another negative day in the markets yesterday, we are seeing a rebound in Europe and in North American futures this morning.

Asia, fell in concert with North America overnight dropping about a half a point in most markets.

Europe is rebounding this at midday on positive industrial production numbers for April.  Markets there are up about a half a point.  In other news out of the region, Morgan Stanley has moved Greece into the Emerging Markets Index which is a substantial downgrade to the country from industrialized nation.

North America is going to open higher with futures in the US and Canada up about a half a point.

We continue to see continued volatility in the defensive securities which, in my view is providing buying opportunities which I am taking advantage of in many of my mandates.

Gold is off about 5 bucks to 1375, oil is flat at 95.60 and the loonie is up a third of a cent to 98.40.

Kenneth A. Dick, BA, CIM, CFP, FCSI

Branch Manager & Portfolio Manager | Independent Wealth Management

Canaccord Genuity Wealth Management

www.glwm.ca

 

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