Week in review:
Bank earnings have been coming in well ahead of last year and in some cases like the TD Bank dramatically higher than those in the third quarter of 2005.
The US housing market is slowing much faster than anticipated with both new and existing homes sales falling for the fourth month in a row. The only bright spot for home owners is that existing house prices did move a little bit higher in July but the pace of change was only 0.5% as the median price for single family homes moving up to $231,200 in July from $230,100 in June.
More mergers in the Canadian market, Domtar and Weyerhaeuser merge their free sheet paper divisions in a $3.3 billion deal. EuroZinc and Lundin agree to merge creating a company with a combined market capitalization of over $3 billion.
The Canadian dollar much stronger closing at 90.13 cents US as investors come to a consensus that US interest rates are not going higher.
Oil and natural gas higher on fears that tropical storm #5 heading for the Gulf Coast will become a hurricane causing damage to this region.
Nickel on the London Metals Exchange touches all time highs of almost $35,000 a tonne ($15.90 a pound) as inventory levels fall to 6400 tonnes which is around a 1 day supply.
It should be another interesting week starting Monday.
For more information go to www.campbellreport.com
The US housing market is slowing much faster than anticipated with both new and existing homes sales falling for the fourth month in a row. The only bright spot for home owners is that existing house prices did move a little bit higher in July but the pace of change was only 0.5% as the median price for single family homes moving up to $231,200 in July from $230,100 in June.
More mergers in the Canadian market, Domtar and Weyerhaeuser merge their free sheet paper divisions in a $3.3 billion deal. EuroZinc and Lundin agree to merge creating a company with a combined market capitalization of over $3 billion.
The Canadian dollar much stronger closing at 90.13 cents US as investors come to a consensus that US interest rates are not going higher.
Oil and natural gas higher on fears that tropical storm #5 heading for the Gulf Coast will become a hurricane causing damage to this region.
Nickel on the London Metals Exchange touches all time highs of almost $35,000 a tonne ($15.90 a pound) as inventory levels fall to 6400 tonnes which is around a 1 day supply.
It should be another interesting week starting Monday.
For more information go to www.campbellreport.com
posted by Grant | 4:20 PM
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