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U.S. jobless claims weigh on Canadian market
By Ashley P. Lau, MarketWatch
SAN FRANCISCO (MarketWatch) — The Canadian stock market retreated late Thursday after U.S. data from the Labor Department showed jobless claims rose 13,000 to 462,000 in the latest week, which weighed on investor sentiment and sent the broader market lower.
The S&P/TSX Composite Index (CA:$ISPTX 12,620, -53.62, -0.42%) fell 53.6 points, or 0.4%, to 12,619.7.
The U.S. Labor Department’s numbers came as a surprise to analysts who were expecting jobless claims to decline. Economists polled by MarketWatch had forecast initial jobless claims to fall to a seasonally adjusted 444,000 in the week ended Oct. 9. The data boosted expectations that the U.S. Federal Reserve is likely to implement new stimulus measures.Read more about U.S. jobless claims.
“The key driver of trading across markets continues to be the ongoing tug of war among central banks over easing versus tightening,” Canadian market analyst Colin Cieszynski said.
Ok but just to let you know economic data outweighs company results. Dow Jones last night went down despite good company results is because jobless claims went up again. This means rising unemployment in USA.
Noob79 ( Date: 15-Oct-2010 16:13) Posted:
Citi grp , Bank of America and Goldman Sach....etc due to report in NYSE.... Dow good== STI good. There mayb not announcement for Genting but i just hope it will follow when index went up loh... wish me luck :)
epliew ( Date: 15-Oct-2010 15:51) Posted:
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15:20:09 2.080 1,115 S
15:19:44 2.080 1,000 S
BB coming in. |
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Well maybe a few days till the IPOs are over. I don't expect GentingSP to go down much though, the BBs are obviously trying very hard to hold the price around 2.06 to 2.10
Raptor22 ( Date: 15-Oct-2010 16:08) Posted:
Few weeks !!
Looks like will be watching more movies. lol
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coincidentally, buyers are back during the same time......2.09 now
BullishTempo ( Date: 15-Oct-2010 16:10) Posted:
France and UK in negative zone. Dow jones futures negative. STI starting to trend down.
Raptor22 ( Date: 15-Oct-2010 16:08) Posted:
Few weeks !!
Looks like will be watching more movies. lol
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Citi grp , Bank of America and Goldman Sach....etc due to report in NYSE.... Dow good== STI good. There mayb not announcement for Genting but i just hope it will follow when index went up loh... wish me luck :)
epliew ( Date: 15-Oct-2010 15:51) Posted:
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15:20:09 2.080 1,115 S
15:19:44 2.080 1,000 S
BB coming in.
BullishTempo ( Date: 15-Oct-2010 15:50) Posted:
| There is no result announcement for GentingSP next week. |
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France and UK in negative zone. Dow jones futures negative. STI starting to trend down.
Raptor22 ( Date: 15-Oct-2010 16:08) Posted:
Few weeks !!
Looks like will be watching more movies. lol
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Few weeks !!
Looks like will be watching more movies. lol
It may be prudent to stay sideline for the next few weeks.
BullishTempo ( Date: 15-Oct-2010 16:03) Posted:
As mentioned last week, October may see the listing of three giant government IPOs. They are Mapletree Industrial Trust (S$1.1b), Global Logistcs Properties (US$2.64b) and Sabana Reit (S$500mil). Global Logistics is expected to start the public offering early next week at a price of $1.96. Generally such huge government related IPOs trade mildly higher on their first trading day. Retail investors may also find that the odd of being balloted is also high. Nevertheless market seemed to have established a temporary top this week. It may be prudent for investors to stay sideline for the next few weeks. This is especially so since the market is currently in the traditionally uncertain month of October. In short, seven consecutive weekly rise in STI may be too much. It may be prudent to stay sideline for the next few weeks. Regards, Terry Tang Kwang Boo (Code BBH) Shares Futures Forex Gold Unit Trust CFD T-Bills |
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As mentioned last week, October may see the listing of three giant government IPOs. They are Mapletree Industrial Trust (S$1.1b), Global Logistcs Properties (US$2.64b) and Sabana Reit (S$500mil). Global Logistics is expected to start the public offering early next week at a price of $1.96. Generally such huge government related IPOs trade mildly higher on their first trading day. Retail investors may also find that the odd of being balloted is also high.
Nevertheless market seemed to have established a temporary top this week. It may be prudent for investors to stay sideline for the next few weeks. This is especially so since the market is currently in the traditionally uncertain month of October.
In short, seven consecutive weekly rise in STI may be too much. It may be prudent to stay sideline for the next few weeks.
Regards,
Terry Tang Kwang Boo (Code BBH)
Shares Futures Forex Gold Unit Trust CFD T-Bills
STI is stable. Trending sideways. UK market diving at the moment though.
Raptor22 ( Date: 15-Oct-2010 15:57) Posted:
History repeating?
icetomato ( Date: 15-Oct-2010 15:53) Posted:
| Yesterday 4pm+ started to drop drop drop |
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History repeating?
icetomato ( Date: 15-Oct-2010 15:53) Posted:
| Yesterday 4pm+ started to drop drop drop |
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more like supporting the px to prevent it from turning too ugly...
epliew ( Date: 15-Oct-2010 15:51) Posted:
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15:20:09 2.080 1,115 S
15:19:44 2.080 1,000 S
BB coming in.
BullishTempo ( Date: 15-Oct-2010 15:50) Posted:
| There is no result announcement for GentingSP next week. |
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Yesterday 4pm+ started to drop drop drop
15:20:09 2.080 1,115 S
15:19:44 2.080 1,000 S
BB coming in.
BullishTempo ( Date: 15-Oct-2010 15:50) Posted:
There is no result announcement for GentingSP next week.
Noob79 ( Date: 15-Oct-2010 15:47) Posted:
 Different view... my technical view is that Genting 1st wave 1.86 Low, 2nd wave 1.97 and 3rd wave 2.04, now pushing higher... Fundamental view next week more heavyweight reporting... if beat forcast will fly.. |
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There is no result announcement for GentingSP next week.
Noob79 ( Date: 15-Oct-2010 15:47) Posted:
Different view... my technical view is that Genting 1st wave 1.86 Low, 2nd wave 1.97 and 3rd wave 2.04, now pushing higher... Fundamental view next week more heavyweight reporting... if beat forcast will fly...
BullishTempo ( Date: 15-Oct-2010 15:38) Posted:
| I don't know for sure. But I am playing safe, meaning I am not going to buy more or hold too much, and I will stay sidelines for the moment. But I am not going to sell all of course. Results announcement is around the corner already |
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yeah..i wanna play safe too. but im afraid of missing the boat. because as the results are nearing, the price mite be getting more and more expensive. at what price do you think can enter for today ?BullishTempo ( Date: 15-Oct-2010 15:38) Posted:
I don't know for sure. But I am playing safe, meaning I am not going to buy more or hold too much, and I will stay sidelines for the moment. But I am not going to sell all of course. Results announcement is around the corner already.
SnowCloud ( Date: 15-Oct-2010 15:24) Posted:
| I see. so it mite drop lower next week ? |
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Dow Jones futures has turned negative. STI won't have much upside from here till 5pm. Europe starting to look weak at this point.
Different view... my technical view is that Genting 1st wave 1.86 Low, 2nd wave 1.97 and 3rd wave 2.04, now pushing higher... Fundamental view next week more heavyweight reporting... if beat forcast will fly...
BullishTempo ( Date: 15-Oct-2010 15:38) Posted:
I don't know for sure. But I am playing safe, meaning I am not going to buy more or hold too much, and I will stay sidelines for the moment. But I am not going to sell all of course. Results announcement is around the corner already.
SnowCloud ( Date: 15-Oct-2010 15:24) Posted:
| I see. so it mite drop lower next week ? |
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| INDEX | VALUE | CHANGE | OPEN | HIGH | LOW | TIME | | DJIA INDEX | 11,048.00 | -4.00 | 11,068.00 | 11,075.00 | 11,034.00 | 03:32 | | S&P 500 | 1,172.90 | -0.60 | 1,173.90 | 1,176.30 | 1,170.60 | 03:32 | | NASDAQ 100 | 2,066.25 | 4.25 | 2,064.50 | 2,072.25 | 2,064.50 | 03:31 | | S&P/TSX 60 | 729.50 | -1.90 | 733.20 | 733.20 | 724.40 | 10/14 | | MEX BOLSA | 34,920.00 | 3.00 | 34,905.00 | 35,025.00 | 34,875.00 | 10/14 | | BOVESPA | 72,907.00 | -91.00 | 73,180.00 | 73,450.00 | 72,445.00 | 10/14 |
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| INDEX | VALUE | CHANGE | OPEN | HIGH | LOW | TIME | | DJ EURO STOXX 50 | 2,836.00 | 10.00 | 2,834.00 | 2,841.00 | 2,829.00 | 03:27 | | FTSE 100 | 5,716.50 | 3.50 | 5,706.50 | 5,729.50 | 5,705.50 | 03:26 | | CAC 40 10 EURO | 3,831.50 | 12.50 | 3,827.50 | 3,837.50 | 3,821.00 | 03:27 | | DAX | 6,493.00 | 25.00 | 6,486.00 | 6,500.00 | 6,478.00 | 03:28 | | IBEX 35 | 10,882.00 | 64.00 | 10,851.00 | 10,895.00 | 10,850.00 | 03:27 | | FTSE MIB | 21,065.00 | 35.00 | 21,085.00 | 21,100.00 | 21,025.00 | 03:27 | | AMSTERDAM | 342.50 | 1.20 | 342.25 | 342.90 | 341.70 | 03:27 | | OMXS30 | 1,100.25 | 0.00 | 1,098.75 | 1,101.25 | 1,097.75 | 03:25 | | SWISS MARKET | 6,447.00 | 10.00 | 6,448.00 | 6,465.00 | 6,436.00 | 03:27 |
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I am sure in the morning before market opens you will take note whether Dow Jones up or down because it has influence on STI. It is the same idea as the European markets.
