Investment Advice on the Radio

Yesturdays rally was short lived. Asian, European and North American markets are all flat to lower. China stepped in to tame the rise in the yuan. Even though they have vowed to allow more flexibility in their currency, it appears today they have engineered a fall in the yuan.
In Canada, inflation came in stronger than expected but is not a big threat. As a result, good news for travellers, the Canadian dollar is rising relative to the US and gas prices rose at a slower pace which helped inflation ease off from April to May.
In the US stocks pared back gains after data showed sales of used homes unexpectedly fell in May. Technically the S&P 500 is at a critical juncture as it attempts to hold above the 200 day moving average. The index is setting up for a classic "head and shoulders" formation which is bearish. If you are looking for companies with solid balance sheets and a reliable dividend give me a call a 868-5525 or visit yourlifeyourplan.ca.