MAJOR TURNAROUND FOR NORTH AMERICAN MARKETS

Aug 26, 2015

By Bob Komsic

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A late surge saw stocks in Toronto and New York soar Wednesday.
Happy Trader
The biggest bounce back was on Wall Street, where the Dow Jones industrial average had a gain of 619 points or nearly 4%.
The TSX composite index rose a more modest 231 points or 1.7%.
Investors balanced strong U.S. economic data and interest rate comments with fears about China’s economy.
New York Fed President William Dudley says the prospects of a September rate hike seemed ”less compelling” than just two weeks ago.
American durable goods orders also rose 2% in July.
KimParlee
Zoomer Media analyst Kim Parlee of TD Wealth Management says with the markets ”generally … things always swing too far one way and that’s why we had the big sell-off.  We tend to see it bounce back.”
She thinks its premature to suggest we’ve bottomed out.
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