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