A.M. market numbers: November 24, 2009

| North American markets | International markets | Bonds | Currency | Commodities |

North American markets looked to open little changed Tuesday after data showed the U.S. economy grew at an annual rate of 2.8 per cent during the third quarter.

That compares with a previous government estimate of 3.5 per cent.

The new reading was a tad weaker than the 2.9 per cent revised growth rate economists expected.

Shortly after the data came out the Dow Jones industrial futures were six points higher to 10,428, the Nasdaq futures slipped 1.5 points to 1,789.75 while the S&P 500 futures added one point to 1,104.8.

The Canadian dollar was down 0.13 of a cent to 94.58 cents US.

There were also concerns about bank capital after China’s central bank warned commercial banks to control their lending.

The warning comes ahead of the Bejing government’s annual economic planning meeting and could foreshadow more measures to reduce liquidity in the months ahead.

However, the financial news was better in Canada where Bank of Montreal (TSX:BMO) reported that its fourth-quarter net income rose 16 per cent from year ago levels to $647 million. Earnings per share were $1.11, compared with $1.06 a year earlier.

Total revenue in the quarter increased by 6.3 per cent to $176 million while its provision for credit losses decreased to $386 million during the quarter, down $79 million from last year.

Toronto energy stocks could be under selling pressure as the January crude contract on the New York Mercantile Exchange declined 32 cents to US$77.24 a barrel.

The December bullion contract on the Nymex rose $3 to US$1,167.70 an ounce while December copper slipped two cents to US$3.12 a pound.

Investors are also anxious to see the latest reading on American consumer confidence.

Consumer spending accounts for more than two-thirds of all economic activity and a rebound in shopping is considered vital for a strong recovery and the data from the Conference Board is expected to show consumers are still nervous about the economy.

The group’s Consumer Confidence Index for November was likely unchanged at 47.7, compared with October. A reading above 90 would signal the economy is on solid footing.

Investors will also get a reading on home prices Tuesday. The S&P/Case-Shiller home price index is expected to show prices declined nine per cent in 20 of the largest U.S. metropolitan markets in September. Prices declined 11.3 per cent a month earlier.

A slowing pace of price declines would provide further evidence that the housing market is beginning to recovery from a collapse that helped push the economy into recession.

An upbeat report on existing home sales in October helped stock markets finish higher on Monday.

The National Association of Realtors said October home sales rose more than 10 per cent, easily topping the 1.4 per cent increase predicted by economists.

Overseas, the warning from the Chinese central bank sent the Shanghai index tumbling 3.5 per cent _ its biggest retreat in three months _ as investors fretted over the warning. The index had been up 11.4 per cent so far this month.

Elsewhere in Asia, Hong Kong’s Hang Seng index slid 1.5 per cent while Japan’s Nikkei 225 stock average dropped one per cent.

London’s FTSE 100 index climbed 0.24 per cent, Frankfurt’s DAX edged up 0.1 per cent while the Paris CAC 40 was flat.

(The Canadian Press)

North American markets (previous close)

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Dow Jones	10,450.95	+132.79 or +1.29%	+19.08%
S&P 500	1,106.24	+14.86 or +1.36%	+22.47%
NASDAQ	2,176.01	+29.97 or +1.40%	+37.98%
TSX Composite	11,624.02	+44.69 or +0.39%	+29.33%

International markets

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	Open	Change	YTD
Nikkei	9,401.58	-96.10 or -1.01%	+6.12%
Hang Seng	22,423.14	-348.25 or -1.53%	+55.85%
SENSEX	17,131.08	-49.10 or -0.29%	+77.57%
FTSE 100	5,369.40	+13.90 or +0.26%	+21.09%
CAC 40	3,810.14	-3.03 or -0.08%	+18.40%
DAX	5,807.90	+6.42 or +0.11%	+20.74%

Bonds

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Bonds	$Current	$Previous	%Yield
Cdn. 10-year bond	103.16	103.08	3.36
Cdn. 30-year bond	118.10	118.10	3.92
U.S. 10-year bond	100.25	100.50	3.35
U.S. 30-year bond	101.55	101.75	4.28

Currency

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BoC Close	Today	Previous
Canadian $	0.9425	0.9471
US $	1.0610	1.0558

Euro Spot Rate	Today	Previous
Canadian $	0.6306	0.6327
Euro	1.5857	1.5804

Commodities

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Gold	AM	PM
London Gold Fix ($US)	$1,170.25	$1,142.50

Oil	Open	Change
WTI Crude Future (US)	$77.32	-$0.24 or -0.31%

(11/24/09)