AM 1150 Kelowna - Radio Rallies & Reversals
So the big news this morning is the downward revision in China's April leading economic indicator. On the news, Asian and European stock markets slid into the red and commodities are taking it on the chin. Of course North American stocks opened in the red, and adding to the bad news are disappointing Canadian and US consumer confidence reports.
The S&P 500 is re-testing the 15% correction level from the high back in April. Referring to one of my reports at the start of the month, should this level be broken, there's an 80% chance of a bear market occurring, according to S&P research (that's a drop of 20% or more). The silver lining in all this, at least if you're looking to borrow money, is interest rates are falling. I might add that for those who missed out on the March '09 rally, because you did your homework, you might get another chance to buy in cheap.
For anyone looking for income ideas, back in April ScotiaCapital put out a report on the income trust sector. If you'd like a copy ask us at yourlifeyourplan.ca or call 250-868-5525.
GB
The S&P 500 is re-testing the 15% correction level from the high back in April. Referring to one of my reports at the start of the month, should this level be broken, there's an 80% chance of a bear market occurring, according to S&P research (that's a drop of 20% or more). The silver lining in all this, at least if you're looking to borrow money, is interest rates are falling. I might add that for those who missed out on the March '09 rally, because you did your homework, you might get another chance to buy in cheap.
For anyone looking for income ideas, back in April ScotiaCapital put out a report on the income trust sector. If you'd like a copy ask us at yourlifeyourplan.ca or call 250-868-5525.
GB
posted by Gordon Bell at
6:58 AM
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