Posted on 02/11/09
fragile
Stock markets are fragile going into the week, after the news that the U.S. had emerged from recession was undercut by other, less friendly economic indicators.Wages, salaries and consumer spending are down. Expectations for the holiday shopping season are weak, consumer confidence remains something of an oxymoron and weekly jobless claims keep rising. On top of that, Canada's gross domestic product figure for August disappointed, suggesting the Bank of Canada has severely overestimated growth for the third quarter.
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