Stocks and Dollars

November 2011 GDP was disappointingly weak dropping 0.1% in the month following unchanged activity in October. During the third quarter of 2011, monthly activity rose 0.3% on average. Expectations were for a monthly gain of 0.2%. The weakness in November was concentrated on the goods-producing side of the economy, which

Overall this was a disappointing report. With the global economy slowing and domestic fiscal policy a drag on growth, the well being of the U.S. consumer is crucial to the recovery. Today’s number, coupled with yesterday’s disappointing personal spending data, offers a reminder that underlying demand is still too soft

The mix of fundamental data from the US was not encouraging. The macro data pointed to continued falling house prices, a less robust increase in activity from the Chicago PMI, as well as less confident consumers. All 3 reports came in below expectations, and coincided with some negative headlines out

The market is trying to celebrate the latest EU summit, but there’s not much there worth toasting. GBP is getting a nod of approval from the market as the UK gave the new fiscal compact the cold shoulder.

The market initially celebrated the outcome of the latest EU summit today, first

After a strong third quarter performance (+3.5%), economic growth in Canada has clearly lost momentum. November’s contraction puts Canadian real GDP growth on track for 1.5-2.0% in the fourth quarter.

With a recession in Europe and recent indicators taking some of the shine off the current U.S. growth picture, Canada’s export

The Canadian economy surprised consensus by declining 0.1 percent MoM in November against expectations of an increase of 0.2 percent. It was the first time since May 2011 that the economy recorded a monthly drop when it printed -0.3 percent. The annual rate of growth eased to 2 percent from 2.7 percent.

The stock market lost ground Tuesday but still appeared headed for its best January finish in more than a decade. An unexpected drop in consumer confidence dragged stocks down after a strong first half-hour.The …

The stock market lost ground Tuesday but still appeared headed for its best January finish in more than a decade. An unexpected drop in consumer confidence dragged stocks down after a strong first half-hour.The …