AM 1150 Kelowna - Radio Rallies & Reversals
Despite September being arguably the worst month for stock market performance, markets are kicking-off this month with a bang. Markets are looking to the positive PMI number out of China and the ISM number out of the US for inspiration to move higher. North American stock indexes have been in the green all day and as we approach the last hour of trading: The TSX Composite index is working on it's 6th straight positive day, closing in on 12,000; while US indexes are all up well over 2%.
Strength is broad based with all sectors up, with the exception of gold. As a cautionary note, the ADP employment report in the US was worse than expected as the private sector shed 10,000 jobs in August, and July's gain was revised downward. Markets will be looking to the more widely followed Non-Farm Payrolls report on Friday for further direction. This report will include the public sector, and overall job cuts are estimated to be 100,000.
GB
Strength is broad based with all sectors up, with the exception of gold. As a cautionary note, the ADP employment report in the US was worse than expected as the private sector shed 10,000 jobs in August, and July's gain was revised downward. Markets will be looking to the more widely followed Non-Farm Payrolls report on Friday for further direction. This report will include the public sector, and overall job cuts are estimated to be 100,000.
GB
posted by Gordon Bell at
11:14 AM
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