Markets are starting the last week of summer on a quiet but positive note, but a slew of economic data heading into the long weekend should stir things up. From the US we will hear estimated Q2 GDP figures, the manufacturing index, employment data, and consumer confidence, while Canadian releases include current account numbers and GDP estimates. Wal-Mart shares got a boost after the company reported August sales will come in at the high end of estimates. Financial shares are again leading the TSX higher this morning, but gains are being tempered by energy as oil and natural gas prices slip due to waning concerns over a storm near the Gulf of Mexico. The TSX is up 10 pts. The Dow is up 52 pts.
Bonds continue to rally as evidence of a slowing economy continue to mount. The 5-year Canada yields 4.09% and the 10-year 4.18%. The Loonie has slipped back below the 90 cent mark. Oil is down .06 to US.45/barrel. Gold is down .20 to US3.60/oz.
