Investment Advice on the Radio

Markets started the morning off under pressure. US new home sales dropped 32.7% in May after the tax credit faded. That is the lowest level in 4 decades. In Canada, retail sales for April was lower than expectations. Asian and European stocks were also lower following yesturday's late afternoon selloff in the US on weak housing data. Yesturday, the S&P broke thru it's 200 day moving average to the downside which is technically bearish.
This weekend the G20 meets to discuss the best way to move forward for the Global economy and how to move toward austerity. With this in mind, Mark Carney warned that Governments around the world must not rush to tighten their belts and need to strike the right balance with ensuring growth. According to 13 strategists surveyed by Bloomberg, Fiscal austerity packages will be a drag on growth, but not enough to derail the economy. For a report on companies with great growth prospects and sustainable dividends give us a call at 868-5525 or visit yourlifeyourplan.ca!