Financial Update for Feb. 9, 2009

Stocks perk up as investors look past dismal jobs data toward stimulus –TSXs first close above 9000 since Jan 9

· TSX +147.04Dismal employment news couldn't stop North American stock markets from registering solid gains for a 4th day as investors look ahead to the U.S. economic stimulus program and an announcement of aid for the financial sector.
· DOW +217.52 The main driver is the Obama administration fiscal stimulus package and the announcement about the financial system and positive data we're seeing from China," said Jennifer Dowty, portfolio manager at MFC Global Investment Management
· Dollar +.29c to 81.52USD
· Oil -$1.61 to $39.56US per barrel. Oil prices dropped below US$40 as the government reported U.S. employers slashed more than a half million jobs last month, the most in 35 years.
· Gold +$.30 to913.90 USD per ounce
· Canadian 5 yr bond yields - .4bps to 1.93
· http://www.financialpost.com/markets/market_data/money-yields-can_us.html

Monday Chuckle:
In the US, foreclosures are high, unemployment is high, Michael Phelps is high…..