Monday Investment Advice on the Radio

North American markets are off to a good start this week. FedEx raised its earnings outlook and new home sales jumped 23.6% in June. This is the largest percentage since May 1980 data. The US markets are up about 1/2% and the TSX is flat struggling with materials and technology. Over in Europe surprisingly good Eurozone economic data trumped concerns about the bank stress tests and global stocks are rising as a result. Aside from earnings to drive the markets this week, the Case-Shiller Home Price Index & consumer confidence for July are out tomorrow, on Wed the Beige book and on Friday GDP in both the US & Canada come out.

Earnings season is off to a strong start. Credit Suisse reported over 85% of S&P 500 companies reported positive earnings so far. In addition their research suggest market performance tends to peak after the first week in strong reporting seasons over the past 6 years. This may be evidence investors tend to shift their focus to macro economic news. Will this week see that shift? For a copy of the forecast give me a call at 868-5525 or visit yourlifeyourplan.ca.