Wednesday Morning Radio Advice

Stocks bounced at the open following a sharp selloff on Tuesday that marked the biggest one-day downturn in about two months. In Europe, markets are flat. In Asia, Japan's Nikkei fell 1.7 per cent in overnight trading. The gains in North America were mostly due to upbeat earnings from blue-chip companies. Financials are mixed. Wells Fargo reported record high earnings of more than $3.3-billion, beating analysts' estimates. However, Morgan Stanley disappointed investors with earnings down 67% over last year. Boeing beat expectations and is giving that aerospace sector a lift. In Canada, commodities and financials are lower. The Canadian dollar is trading just below 97 cents US.

Opportunity - The economist featured another article about currency wars. This one is called the Bun Fight. The Big Mac Index is a measure of currency valuations based on purchasing power parity of a Big Mac in various countries. It helps identify over and under valued currencies around the world and apparently China needs more expensive burgers. Incidently the Canadian dollar is overvalued by about 10% relative to the US according to this. For those of you going south it may be a good time to evaluate when to convert your money. Any questions a call me at 868-5525 or visit yourlifeyourplan.ca