Tuesday's Investment Advice on the Radio

Worldwide markets are lower after weaker-than-expected import data from China and disappointing productivity numbers in the US. The other important driver today will be the Fed reserve meeting on interest rates and the economy. The S&P 500 is trading at it's 200 day moving avarage which is an important technical indicator and a close below it could indicate a turnarround in market momentum. In Canada, commodity prices are lower and so is the Canadian dollar, off by over a cent.

U.S. consumers remain cautious and would rather save than spend. U.S. personal savings rose to 6.4% in June while Canada’s personal savings rate fell to less than 3% through the first quarter of 2010. Canadians are now saving significantly less than Americans for the first time since the early 1970s. All pointing to slowing growth for the US economy and requiring a different approach to investing. If you are concerned about how to invest call me at 868-5525 or visit yourlifeyourplan.ca.