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Weekly Wrap-UpDecemebr 28, 1996 |
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Weekly Wrap-UpDecemebr 28, 1996 |
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| TSE | Change | DJIA | Change | S&P | Change | |
| Friday | 5902.66 | - | 6560.91 | - | 756.79 | - |
| % Change | +0.56% | +33 pts | +1.19% | +76.91 | +1.06% | +7.92 |
| GOLD | Change | $CDN/$US | 30YR Cda | Change | 30YR US | Change | |
| Friday | 369.80 | - | 1.3676 | 7.03 | - | 6.54 | - |
| % Change | >0.5% | +.50 | - | -6 bps | -5 bps | ||
My apologies to those faithful out there who visit us regularly. The holiday season has provided those of us at the Financial Pipeline with a well deserved break. As a result, the weekly wrap-up is a little thin.
The few days that the markets were open over the past week allowed us to ask the question, Imagine if the markets were open and nobody showed up? To characterize the recent trading sessions as thin would be an understatement. There were those who commented that the past week was an excellent time to finish up paper work, submit expense reports or try to stick pencils in the ceiling. Slow? Yes!
Well, back to the markets proper. The bond markets got a boost as the US released November non-durable goods orders, which declined 1.6%. This added to some of the evidence seen in the previous weeks that the US economy is moving along at moderate pace, with little inflationary pressures present. Bonds received a hefty lift from the sentiment in very thin markets.
The stock markets were also characterized by thin trading. Big name blue chips dominated the continuing Santa Claus rally. While the DJIA closed at a new record high, the TSE lags well behind its previous high, set 28 Nov. 96 of 6018.65. With thin trading, and mixed results on the S&P and Nasdaq, the record set in New York can hardly be classified as broad based.
Here's to profitable investing in the New Year. Happy Holidays, hope you are back for more in 1997.
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