Wednesday, November 3rd

  • US election will be history.

  • Federal Reserve announcement, market is looking for Quantitative Easing of $500 billion to $4 trillion (buying assets to provide liquidity and keep interest rates low).


  • Canada’s August GDP rose 0.3%, as expected, vs a decline of 0.1% in July

  • US Q3 GDP rose 2%, as expected, vs an increase of 1.7% in Q2. Still considered too slow.
  • UK Q3 GDP rose 0.8%, better than expected, vs an increase of 1.2% in Q2. S&P says UK no longer faces risk of downgrade.

US Corporate Outlook

  • US companies have almost $1 trillion of cash on their balance sheets. The ratio of cash to capital expenditures is 1.64 times, possible an all time high, compared with 1.1 times in December 2008.

  • National Association of Business Economics said that employment conditions improved in Q3 to the highest level since the start of 2008-2009 recession. Industry demand, corporate profits, business costs and capital spending all strengthened.

Angus Watt
Managing Director, Individual Investor Services
Angus Watt Advisory Group
National Bank Financial