MARKET WATCH

Market Watch Podcast

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This is Market Watch for Friday, February 3, 2012

Good day! This is Gary Ng from Union Securities Ltd. Welcome to Market Watch for Friday, February 3rd, 2012. US and Canadian markets were sharply higher this morning on better than expected US employment data. More on these headlines after these messages.

Counting down 3, 2, 1

US equity markets traded sharply higher this morning as investors cheered the higher than expected jobs data released by the government. Economists had forecasted that for the month of January, the US economy would add 150,000 jobs. However, the official report came in at 243,000, while the unemployment rate also dropped to 8.3% from 8.5%. There were also skeptics after the report came out with the notable complaints being the majority of the jobs created were very low paying ones and that the unemployment rate dropped mainly because many workers had taken themselves off the jobs market.

In Canada this morning, we had our own read on the jobs’ market with the report coming in as a disappointment. Economists had forecasted over 25,000 jobs to be created in January but the official read was only 2,300 net new jobs. 5,900 part time positions were created by the economy while on the other hand the economy lost 3,600 full time jobs. The largest loss in jobs was in the construction industry which may be reflecting a cooling housing market.

In grains this morning, Chicago looked to be pricing in weather forecasts from South America while domestic news was relatively sparse. Stats Can did report on canola inventories this morning with the report showing slightly tighter supplies than estimated. Canola for March delivery traded up 4.7 a ton, trading around 527.0 for much of the morning. During the morning, Chicago soy beans traded up around 5 cents, corn down 4 cents, and Chicago wheat down 5 cents - all in bushels.

That’s today’s Market Watch. Consult with your Investment Advisor today and see how he or she can help you effectively manage your portfolio in today’s volatile markets. If you’d like more information about how you can trade commodity, equity and options, please feel free to visit my website at www.investwithgary.com. That’s www.investwithGARY.com or call 1-800-847-9985. Have a wonderful weekend!

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Union Securities Ltd. is a member of the Canadian Investor Protection Fund (CIPF) designed to protect client investment in accordance with their corporate mandate.