Monday Radio Rallies & Reversals
Rallying -Global stocks are moving higher this morning. Investors cheered efforts by the G20 finance ministers to avert a currency war during this weekends meeting in South Korea. Finance ministers at the G20 meeting agreed that they will try to maintain trade balances at what they called "sustainable levels," while the United States and China in particular agreed to "refrain from competitive devaluation of currencies."
Reversing -The US $ relative to the Canadian dollar.
Opportunity -Of the 150 S&P 500 companies that have reported Q3 earnings so far, 79% have beat analyst expectations. It is now widely anticipated that in early November, the Federal reserve will shift from being an attentive observer of markets, to being an active buyer. According to Credit Suisse: "The Fed's goals are to raise asset prices and accelerate the pace of improvement in the US labor market. The expectation of 'QE2' has played a strong part in stocks recent run-up. Keep an eye on consumer confidence, as the Fed believes this is the single most important metric to watch in gauging the potential for near-term rallies. For more on investing call me at 868-5525 or visit yourlifeyouplan.ca.
Reversing -The US $ relative to the Canadian dollar.
Opportunity -Of the 150 S&P 500 companies that have reported Q3 earnings so far, 79% have beat analyst expectations. It is now widely anticipated that in early November, the Federal reserve will shift from being an attentive observer of markets, to being an active buyer. According to Credit Suisse: "The Fed's goals are to raise asset prices and accelerate the pace of improvement in the US labor market. The expectation of 'QE2' has played a strong part in stocks recent run-up. Keep an eye on consumer confidence, as the Fed believes this is the single most important metric to watch in gauging the potential for near-term rallies. For more on investing call me at 868-5525 or visit yourlifeyouplan.ca.
posted by Gordon Bell at
11:18 AM
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