Money Sense

[Anonymous]

Taking more money from employer and employee and will really spur job creation. :001_rolleyes:  No wonder Canadians can't save for their own retirements when various levels of government keep nickel and diming them. Rolling back the previous governments increase to TFSA contributions was stupid too.

[smell the glove]

The problem is, is that many people don't save for their retirements...



This is why the CPP exists.



What are you going to do with millions of elderly people that have zero net worth, and zero income?  Throw 'em into a gas chamber?

[Anonymous]

My phone is ringing off thew hook this morning as paniclky clients see Canadian dollar shedding a full cent and big drops on all the major markets. The pound closed at it's lowest level in thirty one years.



I suspect that we'll see something of a retracement through the day as traders step back from the knee-jerk reactions that characterized markets last night. It will still be a rough week ahead.

[Anonymous]

The problem is, is that many people don't save for their retirements...



This is why the CPP exists.



What are you going to do with millions of elderly people that have zero net worth, and zero income?  Throw 'em into a gas chamber?

Raising payroll taxes on employers and employees alike hundreds of dollars a year for a very slight increase in CCP payouts is stupid. It will kill jobs and take money out of the economy. It is not good value for the money being charged.



Singapore has mandatory savings accounts that gives the individual a lot of choice in where to direct the cash. I would have preferred something like that here.

[smell the glove]

My phone is ringing off thew hook this morning as paniclky clients see Canadian dollar shedding a full cent and big drops on all the major markets. The pound closed at it's lowest level in thirty one years.



I suspect that we'll see something of a retracement through the day as traders step back from the knee-jerk reactions that characterized markets last night. It will still be a rough week ahead.

My stocks took a big shit-kicking today, due to the fears and paranoia of Britain removing itself from the EU.



Well, they all took a shit-kicking, except one of my holdings...  Barrick Gold.  Up around 8% today.



ALWAYS diversify...  Barrick Gold is a shit investment, that pays almost nothing in dividends.  I swore to turf it when I broke even with it...



Now?  It's one of my top performers!

[Anonymous]

My phone is ringing off thew hook this morning as paniclky clients see Canadian dollar shedding a full cent and big drops on all the major markets. The pound closed at it's lowest level in thirty one years.



I suspect that we'll see something of a retracement through the day as traders step back from the knee-jerk reactions that characterized markets last night. It will still be a rough week ahead.

My stocks took a big shit-kicking today, due to the fears and paranoia of Britain removing itself from the EU.



Well, they all took a shit-kicking, except one of my holdings...  Barrick Gold.  Up around 8% today.



ALWAYS diversify...  Barrick Gold is a shit investment, that pays almost nothing in dividends.  I swore to turf it when I broke even with it...



Now?  It's one of my top performers!

Gold was the big winner after the Brexit vote. The US $ is seen as safe haven too.

[Anonymous]

The Canadian dollar is continuing its descent as markets around the world continue to take stock of last week's Brexit vote.



The loonie weakened as trading progressed, dropping to 76.48 cents US by late morning, down 0.45 of a cent from Friday's close.



On Friday, Canada's dollar fell 1.37 U.S. cents to 76.93 cents US as the greenback, often a safe haven during times of political and financial uncertainty, strengthened against most currencies following the Brexit vote.



The Toronto Stock Exchange's S&P/TSX index also increased its loss on Monday to 250.55 points, dropping to 13,641.33 after 90 minutes of trading this morning.



That followed a 239.50 point decline on Friday.



The TSX's decline was softened by an increase in gold stocks.



August gold contracts were up $4.60 to US$1,327 an ounce.



The Dow Jones industrial average saw its losses mount by 309.30 points at 17,090.56, the broader S&P 500 composite index fell 42.87 points to 1,994.54 and the Nasdaq composite dropped 123.27 points to 4,584.70.



The August crude contract was down $1.15 at US$46.49 per barrel.

[Anonymous]

Stock markets continued to rally from their post-Brexit losses as they posted a second straight days of gains.



In early afternoon trading on Wednesday, the S&P/TSX composite index was up 193 points at 14,036.



On Wall Street, the Dow Jones industrial average was ahead by 238 points at 17,648, while the broader S&P 500 index gained 30 points to reach 2,066. The Nasdaq composite index was up 79 points at 4,771.



The FTSE 100 closed Wednesday at 6,360.06, up 219.67 points from its previous finish.



The Canadian dollar added 0.30 of a cent to reach 77.02 cents US. The euro and the British pound were higher against the U.S. dollar.



The August contract for light sweet crude was up $1.30 at $49.15 US per barrel.

[Anonymous]

Canada's main stock index jumped in early trade on Friday in a broad move higher after robust U.S. jobs data, with energy shares gaining with higher oil prices.



The Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 113.39 points, or 0.80 percent, at 14,247.85 shortly after the open. Nine of its 10 main industry sectors rose.



anada's already-sluggish jobs market stalled in June, when the economy shed 700 positions, but the number of people seeking work also fell, and the unemployment rate edged down to an 11-month low of 6.8 percent.



Analysts polled by Reuters had forecast a gain of 5,000 positions, and expected the jobless rate to rise to 7.0 percent from 6.9 percent in May. The unemployment rate last hit 6.8 percent in July 2015.



The Statistics Canada data released on Friday underlined the challenges facing an economy trying to adjust to weak oil prices that have depressed demand and led to layoffs in the energy industry. The labor participation rate dropped to 65.5 percent, the lowest since December 1999.



Full-time positions dropped by 40,100 while part-time jobs rose by 39,400. The construction and manufacturing sectors lost 28,700 and 12,900 jobs respectively while accommodation and food services grew by 20,200 positions.

[Anonymous]

Both crude benchmarks, West Texas Intermediate and North Sea Brent were down nearly 8 percent for the week - the largest weekly slide for Brent since January.



Crude futures have gyrated of late as a glut of refined products and slowing global economic growth contrasted with supply disruptions and expectations that the world's overhang of oil would soon begin to recede. Both Brent and U.S. crude hit two-month lows on Thursday.

[Anonymous]

The odds of Donald Trump winning the November election. But, people want to know what a Trump presidency will mean for the markets. The Brexit vote has been an unexpected boon for bond market investors.



It is so unclear what fiscal policies Trump would pursue. Mr Trump's pledge to make Mexico pay for a wall along its northern border could damage burgeoning US exports of its natural gas glut.



Based upon what is published on Donald Trump's own website it is my opinion that a Trump Presidency is likely to result in stagflation, and bring forth several headwinds for the economy and in turn the U.S. stock market (and global markets). A combination of greater deficit spending (based on the huge tax cuts Trump is proposing while there are no proposals for substantial spending cuts) and protectionist trade policies is likely to yield stagnant or negative economic growth amid stubbornly high consumer prices (resulting from reduced international trade which will make goods that we have typically imported from China, Mexico, etc. more expensive).



if Trump is elected President of the United States investors will likely want to sell some of their stocks and increase their allocations to gold and select gold mining shares.  Expect a large rise in precious metals due to increased economic instability, and increased geopolitical tensions,

[Anonymous]

Oil is quietly down about seven dollars over the past week or so. This is the result of reduced world growth projections. Needless to say oil and gas stocks are lower and it is putting downward pressure on the Canadian dollar.

[Anonymous]

It has not been a good week or so for crude oil and related stocks. A glut in refined gasoline products is eating into the price of crude as refiners take advantage of cheap feed stock and buy extra crude, much like China is doing. Crude was up slightly Friday to $41.60, but has shed over 15 per cent in two weeks.



The Canadian dollar was at 76.59 cents US, up 0.61 of a cent from Thursday's close. The Toronto Stock Exchange's S&P/TSX composite index was slightly positive, up 30.02 points to 14 582.74.

[Anonymous]

The Canadian dollar strengthened to a four-week high against its U.S. counterpart on Friday as oil rallied and weaker-than-expected U.S. data weighed on the greenback. It closed at 77.15, up from Thursdays close of 77.04.



Canada's Teranet-National Bank Composite House Price Index showed national home prices rose 2.0 per cent last month from June. Prices were up 10.9 per cent from a year earlier.





Canadian government bond prices were higher across the maturity curve in sympathy with U.S. Treasuries as expectations dipped for a Federal Reserve rate hike this year.



The two-year price rose 4.5 Canadian cents to yield 0.515 per cent and the benchmark 10-year climbed 37 Canadian cents to yield 0.992 per cent.



Record highs reached by U.S. stock markets Thursday signal a revival in risk appetite that has buoyed higher-yielding currencies such as the Aussie and kiwi. A gauge of the dollar has erased all its advance from last week, after better-than-forecast payrolls growth failed to strengthen bets for higher U.S. rates by year-end above 50 percent.



The rebound in oil is leading the way, pushing other commodities up in tandem, and that is positive for commodity currencies.

[Anonymous]

The S&P/TSX Composite Index wavered throughout the day and edged higher by the close up 9.16 points, or 0.06 per cent to close at 14,639.88 in Toronto. The industrial, consumer discretionary, financial and energy stocks were the biggest gainers while utilities, materials and telecom services stocks were the biggest decliners.

 

The Canadian dollar fell 0.47 of a cent to .7688 US.