AM 1150 Kelowna - Weekly Market Report

A flat week for markets last week, except for Asian and North American small cap stocks; The EAFE and NIKKEI indexes were up .9% and 1.4%, respectively, while the Russell 2000 was down 1.1%. The TSX Composite was down 0.4%, the Dow up 0.1%, the S&P 500 up 0.5%, and the NASDAQ was up 0.4%. In Canada: health care, utilities, and financials were the only positive sectors.

Market moving news last week in Canada was the Bank of Canada's overnight rate increase to 1%, and the Canada jobs report which on the surface was better than expected, but digging a little deeper revealed a weaker number. Potential market making news this week: On Tuesday we have US retail sales and business inventories, while in Canada we have capacity utilization and productivity numbers; On Wednesday, we have capacity utilization and production numbers in the US, along with the Empire State Manufacturing index, while in Canada we have manufacturing shipment data; and finally on Friday we have US CPI and consumer sentiment data.

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