This is jeff wareham, scotiamcleod wealth advisor with beyond funds market weekly for july 26, 2008.
Canadian markets continbued to suffer this week with the ongoing correction in the price of oil. Many other segments of the market actually posted fairly positive numbers. But energy and material stocks, stars of 2008 gave away more of their gains.
In new york it would have been a pretty good week if not for Thursday.
Next week should be interesting...the Federal Reserve's prohibition on shorting some of the largest financial stocks expires Tuesday...will the recent rally in their prices continue, or will the trade unwind?
Oil's fall has been remarkable...down twenty dollars in two weeks.
Looking at the numbers, toronto finished the week at 13378 remaining in correction territory, while the Dow finished at 11371. The Nasdaq finished on a positive note, at 2311, while the S&P finished at 1258.
Friday, August 1, 2008
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment