The TSX is finishing the week on a strong note as energy stocks rebound from recent lows. US stocks declined after semiconductor manufacturer Advanced Micro devices reported substantially lower profits than expected. Meanwhile, talk of a possible rate cut in the US is subsiding after a recent string of decent economic news. This morning's December retail sales figures climbed 0.9%, capping the strongest back to back gains in a year. The TSX is up 108 pts. The Dow has clawed its way back to even.
Bonds incurred another body blow from the retail sales report, sending the 5-year Canada yield up to 4.04% and the 10-year to 4.13%. The Loonie finally caught a bid, rising by half a cent to US$.8549. Oil is up two cents to US.90/barrel. Gold is up .20 to US0.10/oz. 5 Year fixed mortgage rte remains stable at 5.09%.
