Tuesday, March 8, 2011

Financial Update: March 8, 2011

Reno coach keeps projects in the ballpark...
This is a helpful CRM piece for your newsletters or social media, or a great handout with a purchase plus improvements conversation.

·       TSX -160.42 to 14,092.35  The TSX was sharply lower led by falling mining stocks as copper prices tumbled amid worries about how high oil prices will impact demand. Energy stocks also backed off even as fighting in Libya continued to push oil prices higher.

·       DOW -79.85 to 12,090.03  "The market is concerned over the high cost of energy and whether it will slow down the world's growth," observed Bob Tebbutt, vice-president at Peregrine Financial Group Canada.

·       Dollar -.12c to 102.79c USD The Canadian dollar had earlier benefited from higher crude and bullion prices, but ended closing down

·       Oil +$1.02 to $105.44USD per barrel   reaches a 2 ½ year high on fear that the situation in the middle east will continue to worsen.

·       Gold +$5.90 to $1434.50 per ounce as nervous investors sought a safe haven in bullion

·       Canadian 5 yr bond yields +.01bps to 2.77. The spread (based on the MERIX 5 yr rate published rate of 4.14%) is at the bottom of comfort zone at 1.37.

(Courtesy of Barb Morgan, DBD Ontario Southwest)