Anomalous week on the markets
Posted Aug 12, 2011 12:28 pm.
This article is more than 5 years old.
North American investors may still be feeling dizzy from this week’s wild ride on the markets; especially those south of the border.
The Dow Jones set a record for number of consecutive days with swings greater than 400 points as it pulled the trick Monday through Thursday.
North of the border, Bay Street was a little calmer as it shot for a fourth straight day of gains Friday.
BMO’s Deputy Chief Economist Doug Porter says this week’s craziness was an anomaly.
“We’re seeing sever reactions to what I think under normal circumstances would not be a problem for the market,” he says.
Porter says things should settle down next week, and perhaps even improve.
“As long as there’s no nasty shock that hits us out of the blue, I think we’ll see a bit of a recovery next week,” he adds.
Porter also says there are no major reports due out of the US next week, so investors shouldn’t be on edge, which should lead to less severe fluctuations on Wall Street.
