US markets are benefiting from an unexpected increase in new home sales last month, while Canadian markets respond to an uptick in oil prices and gold back over 0. The Dow is just 15 pts shy of it's record close back in January 2000. Teck Cominco lowered guidance for Q3 sales of Zinc, but increased its Q4 outlook. The shares rallied 3% this morning. The major oil and gas companies also continue to climb from oversold positions. The TSX is up 70 pts. The Dow is up 41 pts.
The Loonie is a touch weaker this morning at US$.8971. Bonds are drifting back from their recent surge pushing the 5-year yield up to 3.89% and the 10-year to 3.99%. Oil is up 56 cents to US.57/barrel. Gold is .90 higher at US0/oz. Mortgage rates remain stable.
