September 20th, 2013 Business & Market Update

A relatively quiet day yesterday is leading to another today.  Asia was virtually flat on low volume overnight and Europe is down about a quarter point at midday going into the German elections over the weekend.  Merkle is favoured to be re-elected but by a much slimmer margin that previous according to pollsters.  We will get the results Monday.

US futures are trading a little lower this morning as we head into this quadruple witching expirationFriday.  Volumes should be large today however direction seems to be neutral.

Canadian futures are also flat this morning even with a lower inflation number that came in at estimates.

After a very busy week it would seem that the capital markets are taking a much needed rest today.

Gold after the big move the last two days is selling off today down about 20.00 to 1350.  Oil is down 0.44 to 104.10 and the loonie is off a quarter cent to 97.18.  The ten year US and Canadian bonds are a little stronger this morning with yields falling to 2.75% and 2.71% respectively.

The new iPhones go on sale today around the world and if you can believe it, people are lining up to get one.  I thought all that hype was a thing of the past.  Apparently not!!  I am sure the company would like to have people lining up to buy the stock.  Unfortunately, that is not the case.

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

Branch Manager & Portfolio Manager | Independent Wealth Management

Canaccord Genuity Wealth Management

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