Monday, December 14, 2015
BNN Top Picks: Franco-Nevada $FNV, BCE $BCE, Agnico Eagle $AEM
Jaime Carrasco, Director & Assoc. Portfolio Manager at Scotiabank
FOCUS: Resource & Utilities Stocks and REITs
MARKET OUTLOOK:
Three of my BNN top picks are beating the Dow year to date in U.S. dollar. It’s surprising because the industry index (HUI) is down 30 percent during this same period, and they are the three precious metals producers that I have been consistently recommending for the last three years. Detour Gold is leading the charge up 30 percent followed by both Agnico Eagle and Silver Standard up 10 percent, in contrast the Dow is flat for the year. That goes to show that good old fashion stock picking still works. These numbers are much greater in the Canadian dollar. (more)
FOCUS: Resource & Utilities Stocks and REITs
MARKET OUTLOOK:
Three of my BNN top picks are beating the Dow year to date in U.S. dollar. It’s surprising because the industry index (HUI) is down 30 percent during this same period, and they are the three precious metals producers that I have been consistently recommending for the last three years. Detour Gold is leading the charge up 30 percent followed by both Agnico Eagle and Silver Standard up 10 percent, in contrast the Dow is flat for the year. That goes to show that good old fashion stock picking still works. These numbers are much greater in the Canadian dollar. (more)
Sunedison Inc (NYSE:SUNE)
Sunedison Inc (NYSE:SUNE) had a volatile but indecisive movement on Friday. Moves of key indicators on daily charts suggest continuation of positive bias for the stock. Plus, chart shows an ascending triangle formation in progress. The key level to watch here is the upper resistance at around 4.37.
US Weekly Economic Calendar
time (et) | report | period | ACTUAL | forecast | previous |
---|---|---|---|---|---|
MONDAY, DEC. 14 | |||||
None scheduled | |||||
TUESDAY, DEC. 15 | |||||
8:30 am | Consumer price index | Nov. | 0.0% | 0.2% | |
8:30 am | Core CPI | Nov. | 0.2% | 0.2% | |
8:30 am | Empire state index | Dec. | -- | -10.7 | |
10 am | Home builders' index | Dec. | -- | 62 | |
WEDNESDAY, DEC. 16 | |||||
8:30 am | Housing starts | Nov. | 1.13 mln | 1.06 mln | |
9:15 am | Industrial production | Nov. | -0.3% | -0.2% | |
9:15 am | Capacity utilization | Nov. | 77.2% | 77.5% | |
2 pm | FOMC statement | ||||
2:30 pm | Janet Yellen press conference | ||||
THURSDAY, DEC. 17 | |||||
8:30 am | Weekly jobless claims | Dec. 12 | N/A | N/A | |
8:30 am | Philly Fed | Dec. | -- | 1.9 | |
8:30 am | Current account | Q3 | -- | -$110 bln | |
10 am | Leading indicators | Nov. | -- | 0.6% | |
FRIDAY, DEC. 18 | |||||
None scheduled | |||||
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