Positive session for the TSX as oil, gold, loonie rise... Baby boomers plan to inherit $750 billion... Bull market for commodities... TransCanada files Energy East impact report...
Positive session for the TSX as oil, gold, loonie rise
The week started with some positives as a weaker greenback helped commodities and the loonie rise.
Tension in Nigeria, where oil facilities have been attacked, also boosted oil prices; gold was helped by fading expectation of a June interest rate rise by the Fed following a speech from chair Janet Yellen which gave little in the way of firm signals.
Resources stocks were among the stars of the session on the main TSX index. Wall Street also closed higher.
Asian markets had closed mixed earlier in the day while Europe closed with broad gains.
The S&P/TSX Composite Index closed up 49.38 (0.35 per cent)
The Dow Jones closed up 113.3 (0.64 per cent)
Oil is trending higher (Brent $50.55, WTI $49.75 at 4.55pm)
Gold is trending higher (1248.00 at 4.55pm)
The loonie is valued at U$0.7800
Baby boomers plan to inherit $750 billion
Canadian baby boomers are in line to inherit a combined $750 billion over the next decade according to an estimate from CIBC.
Economist Benjamin Tal wrote that the generation that will pass away aged 75 and over will leave more than previous older generations due to the number of them and their greater wealth.
Those aged between 50 and 75 have already inherited an average $180,000 with those in BC receiving the most.
Bull market for commodities
The Bloomberg Commodities Index is 20 per cent higher than its previous low (in January) – the definition of a bull market. Oil and gold may have grabbed the headlines but other metals such as copper and zinc are on the rise, bolstered by a weaker US dollar and some sparks of stronger demand.
For food resources, weather incidents have reduced stocks of corn, sugar and soy beans, putting upward pressure on their prices.
TransCanada files Energy East impact report
TransCanada says that the draft study into the impact of its Energy East project shows that it complies with Quebec’s requirements on issues such as sustainable development and the environment. The study will not yet be made public and the full report will include additional technological risks data.
The week started with some positives as a weaker greenback helped commodities and the loonie rise.
Tension in Nigeria, where oil facilities have been attacked, also boosted oil prices; gold was helped by fading expectation of a June interest rate rise by the Fed following a speech from chair Janet Yellen which gave little in the way of firm signals.
Resources stocks were among the stars of the session on the main TSX index. Wall Street also closed higher.
Asian markets had closed mixed earlier in the day while Europe closed with broad gains.
The S&P/TSX Composite Index closed up 49.38 (0.35 per cent)
The Dow Jones closed up 113.3 (0.64 per cent)
Oil is trending higher (Brent $50.55, WTI $49.75 at 4.55pm)
Gold is trending higher (1248.00 at 4.55pm)
The loonie is valued at U$0.7800
Baby boomers plan to inherit $750 billion
Canadian baby boomers are in line to inherit a combined $750 billion over the next decade according to an estimate from CIBC.
Economist Benjamin Tal wrote that the generation that will pass away aged 75 and over will leave more than previous older generations due to the number of them and their greater wealth.
Those aged between 50 and 75 have already inherited an average $180,000 with those in BC receiving the most.
Bull market for commodities
The Bloomberg Commodities Index is 20 per cent higher than its previous low (in January) – the definition of a bull market. Oil and gold may have grabbed the headlines but other metals such as copper and zinc are on the rise, bolstered by a weaker US dollar and some sparks of stronger demand.
For food resources, weather incidents have reduced stocks of corn, sugar and soy beans, putting upward pressure on their prices.
TransCanada files Energy East impact report
TransCanada says that the draft study into the impact of its Energy East project shows that it complies with Quebec’s requirements on issues such as sustainable development and the environment. The study will not yet be made public and the full report will include additional technological risks data.
