Ahead of Market – TSX may rise today.
At 8:41AM October 4th, 2007. A New report just came out from AP Economics. U.S. Jobless claims Jump by 16,000. Former U.S. Federal Reserve Chairman Alan Greenspan have revised his estimated of 30% chance of entering in recession to a higher rate of near 50%, his decisions are based on the financial market turmoil recently in August.
Due to the high Jobless rate, many investors believe it is possible that U.S. Federal Reserve will decide to cut interest rate further.
Because of these two supposedly bad news on the U.S. market, investors may decide to reinvest into the financial markets and other sectors.
My predictions for the TSX today would be Toronto Dominion will have a +-0.5% gain, TSX in general will raise due to Wall Street raising.