With US markets closed yesterday the TSX spent most of the day under water looking for direction. It peaked around 2:00 PM 'Peg time before dropping off to finish the day with a small loss. Overnight Asia is mixed, but Europe is all up about 1%. Oil is holding above $91 and lots of talk about $100 oil in the near future.
BoC interest rate announcement at 8:00 AM 'Peg time this morning. Expectations are that they'll do nothing and leave the rate at 1%. Old Guys are just going to have to wait a while yet.
The story this week will be all about earnings reports. From the US IBM, Citigroup and Apple are reporting today. Later in the week it's Wells Fargo, Goldman, Google, GE and BoA. Here at home, Viterra reports tomorrow.
As I'm typing this at 7:00 AM 'Peg time Citigroup just reported and it's a miss...but, fourth consecutive quarterly profit. We'll have to see what that does to the financial sector today.
Have a look at the CHARTS. After a slow start to the year, week two picked up nicely.
Tuesday, January 18, 2011
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