Central Bank Stimulus & Earnings Reports Push Stocks Higher

allpennystocks Newsletter

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http://ymlp227.net/zWbODG ——————————————————————————– April 28, 2013 Week & Month In Review…

Week & Month In Review For April 22 to April 26, 2013 Canadian Technical Penny Stocks To Watch This Week:

* Ballard Power Systems, Inc. (TSX:BLD) * Redknee Solutions Inc. (TSX:RKN) * Artek Exploration Ltd. (TSX:RTK) U.S. Technical Penny Stocks To Watch This Week:

* Glu Mobile Inc. (NASDAQ:GLUU) * Idenix Pharmaceuticals Inc. (NASDAQ:IDIX) This week on AllPennyStocks.com:

* Article Published, April 22, 2013: Apogee Makes Another Sale of Concentrate to Consoricio in Bolivia (http://www.allpennystocks.com/aps_ca/special-reports/342/apogee-makes-another-sale-of-concentrate-to-consoricio-in-bolivia.htm) (CDN Company) * Article Published, April 23, 2013: DataTrack Lands New Israeli Biotech Client Looking to Maximize Efficiency in Clinical Trials (http://www.allpennystocks.com/aps_us/special-reports/350/datatrack-lands-new-israeli-biotech-client-looking-to-maximize-efficiency-in-clinical-trials.htm) (U.S. Company) * Article Published, April 25, 2013: Endeavour Mining on Target to Start Producing at Fourth Gold Mine in 2014 (http://www.allpennystocks.com/aps_ca/special-reports/343/endeavour-mining-on-target-to-start-producing-at-fourth-gold-mine-in-2014.htm) (CDN / U.S. Company) * Article Published, April 26, 2013: Patient Safety Technologies Adds Another Hospital to its Large List of Clients Using the Safety Sponge System (http://www.allpennystocks.com/aps_us/special-reports/352/patient-safety-technologies-adds-another-hospital-to-its-large-list-of-clients-using-the-safety-sponge-system.htm) (U.S. Company) Video charts for the week:

* April 24th Technical Video Chart For GLUU. Shares of Glu Mobile are in a wedge, or pennant, pattern after spiking to $3.86 in March on a breakout of a channel. An old gap has been filled on the retrace and now the stock is reaching the end of the wedge, making it a stock to watch for another breakout to test recent highs. view:

( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/BCgODYmI8hI ).

* April 24th Technical Video Chart For BLD:CA. After a strong move in March, the Ballard Power Systems chart is holding a support level at 80 cents. The chart is a showing signs of strengthening momentum and trend which should have technical traders looking for the support to hold and the chart to try and make a stronger move in the near term.

view:

( http://www.youtube.com/user/AllPennyStocks#p/a/u/1/OlBlCs4aCaY ).

Featured Link: BullishInvestor.com ( http://www.bullishinvestor.com) – Offering Free U.S. and Canadian technical analysis charts, bullish/bearish ratings and stock screening tools for over 15,000 stocks utilizing technical analysis techniques such as candlestick charting, technical analysis indicators as well as volume and trend analysis.

WEEKLY & MONTHLY UPDATE -STOCKS AND COMMODITIES REBOUND AS APRIL WINDS TOWARDS A CLOSE After a North American sell-off of equities and commodities the week earlier, Wall and Bay Street let the bulls take control last week on a flurry of earnings reports and stimulus optimism that offset less-than-expected economic data that normally would have stalled the markets. Early-week information on the US housing industry supported the ongoing recovery of the housing markets by topping the year prior, but not quite at the rate that economists predicted. On the bright side, a report Thursday showed that the initial jobless claims number tapered back near multi-year lows giving the S&P 500 and Dow a reason to push upward. The biggest piece of information from Washington came on Friday when the initial estimate of first-quarter gross domestic product showed that the US expanded at a slower rate than anticipated, tempering moods about future growth, but also inspiring more talk about a never-ended dose of quantitative easing by the Federal Reserve.

Earnings season is in full swing with 271 S&P 500 companies having reported first-quarter earnings. The bar wasn`t set real high as most analysts expected a tough quarter for blue chips, but 69 percent of those companies that have reported have beaten earnings expectations.

This percentage is clearly above the 63 percent average that has been set in the past 20 years and even above the 67 percent in the past year. The optimistic earnings have come as a pleasant surprise and helped to buoy markets, although many companies have provided soft guidance and missed on or delivered revenue from the first quarter that hasn`t been particularly impressive.

At the end of the week prior, only about 100 S&P 500 companies had reported, with nearly identical ratio of companies topping earnings expectations.

All five major indexes that we track advanced more than 1 percent this past week, with the Nasdaq and TSX-Venture both scoring gains above 2 percent. It was the first week that the Venture closed higher than the previous week`s closing price since the week of January 28.

Economic data from Statistics Canada, the nation`s number cruncher, was scant last week. The one report that came showed a strong increase in retail sales, providing some support to the country`s economy expanding.

While the underperformance of the US economy was a concern, it also provides incentive for the Federal Reserve to continue with their $85-billion-per-month in monetary stimulus to support the country. US government bond yields dropped following the GDP report, fueling bets that the Fed may even consider more stimulus efforts. The Fed meets again on May 1, so investors will be looking for word on policy after that date.

The week also featured some anomalies that impacted the markets. On Tuesday a fake tweet on the Associated Press Twitter account reading, “Breaking: Two Explosions in the White House and Barack Obama is injured,” rocked the markets with panic, erasing about $200 billion in market value in a matter of minutes (although it recovered the losses by the closing bell). The FBI and SEC are investigating the matter.

Further, a software malfunction froze the Chicago Board Options Exchange for three-and-one-half hours on Thursday, halting any options trading on the VIX and S&P 500 indices.

Overseas, the United Kingdom reported GDP data that topped expectations, saying that their country grew by 0.3 percent in Q1, against economist predictions of 0.1 percent growth. Speculation also grew that the European Central Bank will be cutting its key interest rate at its meeting on May 2 as a means to stimulate its economy. In Japan, economists were looking for commentary on stimulus initiatives as the country seeks to meet its two-year goal of inflation at 2 percent. No word was delivered, however, as the Bank of Japan members decided they needed additional time to discuss whether the goal can be attained with the aggressive stimulus plan that was announced earlier in the month.

Clearly investors are focusing on earnings reports and they will get another hefty pile again this coming week. Economic data will still be coming in steadily with the key unemployment rate for April in the U.S being delivered on Friday. The world`s biggest economy only created a disappointing 88,000 nonfarm jobs in March and economists are expecting that number to rise to 160,000 for April with the unemployment rate expected to hold steady at 7.6 percent. The first reading of GDP data may have been somewhat ignored as being shy of forecast (hey, “at least it showed expansion” seemed to be the mentality), but if the jobs data misses badly again for April, it is hard to believe that the markets will not react on Friday.

The Canadian dollar had a strong week against a soft U.S. dollar, posting its best weekly gain in almost four months. Helping fuel strength in the loonie was an increase in crude oil prices, Canada`s largest export. Canada`s currency strengthened against most of its world counterparts this past week. The U.S. dollar, which has been fighting to break through the key 100 yen level, slipped to its lowest level in two weeks against the Japanese currency, in part because of the Bank of Japan deciding to hold off on reporting whether or not it can meet its 2 percent inflation target in the next two years. Of course, a host of less-than-expected economic data dampened sentiment for the USD as commodities recovered last week. On the week, Canada`s dollar gained 0.90%, or $0.00876 against the greenback, meaning next week will begin with one Canadian dollar buying US$0.9828. For the month of April so far, the move last week drew the two currencies nearly back to where they ended March, with the CDN currency only off by 0.01 percent, or $0.0001.

Commodity Snapshot:

* Gold futures had their best week since late in January 2012 on global demand for gold coins, bars and jewelry surging after bullion was crushed the week prior (dropping more than 7%). The week`s gains were pared on Friday after hitting a two-week high as the U.S. economy expanded less than forecast in the first quarter, taking commodities in general lower in the last day of the trading week on future demand concerns, while lowering sentiment about the metal as a hedge against inflation. June contracts were the most actively traded during the past week, climbing $58.0 per ounce, or 4.16%, to $1,453.60. Spot gold closed at the lowest level since February 2011. For the month of April, spot gold may have pulled way up from its lows, but still lost 8.45 percent, or $134.90 across the month to date, its six monthly fall in seven months.

* Silver futures tracked gold this past week as the dollar weakened against global counterparts and investors saw a value opportunity in prices that have been severely depressed in 2013. Silver has shed more than 20 percent of its value since January, making it the worst performer in the S&P GSCI Index (formerly the Goldman Sachs Commodity Index), including a 15 percent plummet in the third week of April.

Silver, from an industrial perspective, is still a topic of demand concerns as China is growing slower than hoped. As an inflation hedge, gold and silver have lost steam as the U.S. economy doesn`t appear to have inflation problems, but rather deflation problems at the moment.

On the week, July contracts for silver were the most actively traded, losing $3.371, or 12.80 percent, to $22.90 per ounce. For the month of April, spot silver dropped for the third straight month, doffing-off 15.05 percent, or $4.27, so far as the month winds to a close.

* Copper futures started the week moving lower, but found strength on Wednesday and Thursday as part of a broad commodity rally as traders closed bets that prices were going to continue to spiral downward, an action called “short covering.”Also helping copper prices was GDP data from the United Kingdom. Because of its widespread applications, copper is particularly sensitive to economic growth. Goldman Sachs said that they expect copper prices to rebound in the next three months, aided by Chinese growth in the second half of the year. July contracts were the most actively traded on New York`s COMEX exchange during the week; climbing 3.75 cents, or 1.19%, to $3.1485 per pound.

As April winds to a close, spot copper has declined 6.56 percent, or 22.4 cents, marking the third consecutive month of declines.

* Oil futures slipped on Friday to pare some strong gains for the week. Like other commodities, oil gained in part because of a weak US dollar with support lent from a report late the week prior that showed crude inventories grew less than analysts expected. A soft dollar is a big driver because commodities are priced in US dollars, making commodity prices more attractive to users of foreign currencies when the dollar is depressed. From a supply standpoint, possible disruptions in the Middle East continue to weigh on traders with bombs exploding in Iraq while Syria is a topic of conversation about possibly having chemical weapons in their country. On the week, June contracts for West Texas Intermediate crude were the most actively traded; appreciating by $4.73, or 5.36%, to $93.00 per barrel. So far in April, spot WTI crude has given up $4.30, or 4.42 percent, continuing it pattern of up-one-month/down-one-month that has been ongoing in 2013.

Equity Market Snapshot:

(All percentages on a weekly basis unless otherwise noted) * Majors were mixed, not exactly following the cues of gold prices heading upward. Goldcorp (TSX:G, +2.45%), Yamana Gold (TSX:YRI, +3.56%), Barrick Gold (TSX:ABX, +0.86%) and Kinross Gold (TSX:K, +2.02%) improved, but Agnico-Eagle Mines (TSX:AEM, -4.97%) and Newmont Mining (TSX:NMC, -0.40%) slipped lower again.

* Barrick, who had seen shares fall in three consecutive weeks, got a little boost, although they remain near their lowest level in years.

In the first quarter, Barrick posted adjusted earnings of $923 million, or 92 cents per share, down from $1.1 billion, or $1.10 per share, in the year prior quarter. The results beat the consensus estimate of adjusted earnings of 85 cents per share, or $852 million.

Barrick also said that it intends to shave at least $500 million in spending on major projects in 2013 and is considering selling some non-core assets to help bolster future profits.

* Also in the mining space, Teck Resources Ltd. (TSX:TCK.B, +4.20%) posted an adjusted profit of $328 million, or 56 cents per share, in the first quarter, down from $544 million, or 93 cents per share, in the same period last year. That beat analyst estimates of 37 cents a share. First-quarter coal sales set a new record at 6.6 million tones.

* Major energy plays rallied with rising commodities. Talisman Energy (NYSE:TLM, +5.14%), Imperial Oil Ltd. (NYSE:IMO, +3.86%), Cenovus Energy (NYSE:CVE, +4.54%), Canadian Natural Resources (NYSE:CNQ, +1.01%), Suncor Energy (NYSE:SU, +5.11%) and Exxon Mobil (NYSE:XOM, +0.63%) posted a winning week. XLE, the Energy Select Sector SPDR, rose by 3.51% for the week.

* The biggest of banks in the US pushed again after a rough week prior. Citigroup (NYSE:C, +4.20%), Wells Fargo & Co. (NYSE:WFC, +3.24%), JPMorgan Chase (NYSE:JPM, +3.49%), Goldman Sachs Group (NYSE:GS, +3.89%), Bank of America (NYSE:BAC, +6.52%) and UBS AG (NYSE:UBS, +4.55%) all rose in value. XLF (NYSE:XLF, +2.68%), the financials select sector SPDR that tracks the financial stocks in the S&P 500, got back on track to hit a new multi-year intraday trading high.

* Canada`s biggest banks didn`t fare quite as well as their US peers.

Bank of Montreal (TSX:BMO, +0.48%), Toronto-Dominion Bank (TSX:TD, +0.71%), National Bank of Canada (TSX:NA, +3.02%) and Canadian Imperial Bank of Commerce (TSX:CM, +0.47%) advanced, while Bank of Nova Scotia (TSX:BNS, -0.09%) and Royal Bank of Canada (TSX:RY, -2.33%) docked points.

* Zurich-based engineering company ABB Ltd. (NYSE:ABB, +6.91%) and renewable energy company Power-One Inc. (NASDAQ:PWER, +56.19%) agreed to terms in which ABB will acquire Power-One for $6.35 per share in cash or $1.028 billion. The deal includes Power-One’s net cash of $266 million and is expected to close in the second quarter, pending customary approvals.

* Rogers Communications (TSX:RCI.B, -3.13%) reported that quarterly net income rose 15 percent to $414 million. Excluding special items, the company would have earned 80 cents a share, three cents better than analysts expected. Revenue whiffed, however, at $2.94 billion, less than the $3.06 billion that analysts expected. 32,000 paid subscribers in its wireless segment signed up in Q1, compared with 47,000 a year earlier.

* Canadian National Railway (TSX:CNR, -0.97%) posted net earnings of $555 million or $1.30 a share, down from $755 a year earlier. The company blamed the slide in part on extreme cold and heavy snow in Western Canada, which hampered operations, congested the network and constrained volume growth. Adjusted earnings were $519 million, or $1.22 per diluted share, topping analyst predictions by one penny.

* Shares of streaming content provider Netflix, Inc. (NASDAQ:NFLX, +31.94%) soared after adjusted earnings totaled 31 cents a share in the first quarter, exceeding forecasts of 18 cents a share in profit.

Revenue was $1.024 billion, in line with views. During the quarter, Netflix added more than 3 million streaming members, bringing its subscriber total to more than 36 million.

* Apple, Inc. (NASDAQ:AAPL, +6.83%) had its best week since November, although it said profit dropped in the first quarter compared to the year prior period. It was the first time in 10 years that this happened. The company also appeased shareholders by reporting that it will finally come-off of some of its massive cash stockpile, saying it will return an additional $55 billion in cash to shareholders.

* Microsoft (NASDAQ:MSFT, +6.80%), the world’s largest software maker, saw a rise in share value for the ninth straight week after it was reported that activist investor ValueAct Holdings LP has built about a $1.9 billion stake.

* Caterpillar (NYSE:CAT, +5.28%), considered a bellwether for the global economy because of its international reach and size, missed profit and revenue forecasts, while also trimming its earnings outlook for the year, citing a slowdown in mining. On the flip side, the company impressed by saying that it is starting a share repurchase plan for the first time in five years.

* Air Canada (TSX:AC.B, -3.33%) slipped lower after estimating that it had an adjusted net loss of $143 million in the first quarter, compared to a net loss of $162 million in the same quarter last year.

The loss is steeper than the $131 million expected by analysts. The official report is scheduled for May 3.

* Homebuilders got a lift from the housing sales information early this week. The PHLX housing sector index (HGX) surged by 9 percent.

D.R. Horton Inc (NYSE:DHI, +21.29%) soared to its highest level in six years on a strong earnings report.

* DuPont (NYSE:DD, +7.54%), the biggest chemical company in the US, also made a new 52-week high upon posting first-quarter earnings that exceeded analysts’ estimates as profit from crop seeds and pesticides hit a record high.

* Shares of Chevron (NYSE:CVX, +3.57%), the second biggest energy company in the world behind Exxon Mobil, rose after reporting total revenue for the first quarter slid to $56.82 billion, down from $60.71 billion in the year prior quarter. Net profit for the quarter was $6.18 billion, or $3.18 per share, versus $6.47 billion, or $3.27 per share in Q1 2012. Analysts were expecting the second biggest oil company in the U.S. to post EPS of $3.09.

* Edwards Lifesciences Corp. (NYSE:EW, -22.80%) dove after the biggest maker of aortic heart valves implanted with a catheter cut its 2013 forecast due to slower sales.

* J.C. Penney Co (NYSE:JCP, +11.40%) advanced for the second straight week upon reports that Goldman Sachs lined up an investor that will provide a $1.75 billion loan to the embattled retailer. Also boosting sales was a report that investor George Soros disclosed a 7.9 percent passive stake in JCP.

* Procter & Gamble Co. (NYSE:PG, -4.26%) fell from all-time highs after it projected fiscal fourth-quarter earnings that were short of analysts’ estimates, citing currency fluctuations and marketing costs for the lower guidance.

Weekly Indices Results:

The S&P TSX Composite Index reversed course from the week prior`s sell-off, climbing 154.65 points, or 1.28%, to 12,220.20. The TSX-Venture Composite Index stopped its losing streak at five weeks with a rise of 26.15 points, or 2.78%, to 965.22.

In the States, the Dow Jones Industrial Average closed ahead for the second time in four weeks, advancing 165.04 points, or 1.13%, to 14,712.55. The much-broader S&P 500 surged back towards record highs; adding 26.99 points, or 1.74%, to close at 1,582.24. The tech-rich NASDAQ Composite was also strong; rising 73.20 points, or 2.28%, to 3,279.26.

Canadian Economic Data:

* Statistics Canada reported that retail sales rose 0.8 percent to $39.5 billion in February, a second consecutive monthly sales gain, registering the biggest two-month gain since 2011. Higher sales were reported in 7 of 11 subsectors, representing 82 percent of total retail trade. Following three straight monthly declines, sales at gasoline stations increased 1.9 percent as a result of higher prices at the pump. Sales gains at new car dealers (+2.0%) more than offset declines at “other motor vehicle dealers” (-7.3%) and used car dealers (-2.3%). Lower sales at furniture stores (-2.9%) was the main contributor to paring the gains.

This week, major economic data will include the Raw Materials Price Index, Industrial Product Price Index and Gross Domestic Product on Tuesday; and International Trade information on Thursday.

U.S. Economic Data:

* The National Association of Realtors said that sales of pre-owned homes, which are completed transactions that include townhomes, single-family homes and co-ops, declined by 0.6 percent in March to a seasonally adjusted annual rate of 4.92 million homes. February’s rate was revised down from a 4.98 million annual rate to 4.95 million.

The latest figure still tops figures from March 2012 by 10.3 percent, but came up short of economist predictions of a rise to 5.03 million annualized rate.

* The Commerce Department reported that new home sales rebounded in March to a seasonally adjusted annual rate of 417,000, supporting a sustained recovery in the nation`s housing market. Sales of new homes increased 1.5 percent in March. Economists expected a rise in the annual rate to 420,000. The median price of a new home increased by 3 percent compared to March 2012, equaling $247,000 last month.

* Separately, the Commerce Dept. said that orders for durable goods, things ranging from toasters to airplanes that are meant to last more than three years, dropped more than expected in March, signaling that growth in the U.S. hit a bump at the end of the first quarter. Durable goods orders dropped 5.7 percent to a seasonally adjusted $216.28 billion, led by a decline in commercial aircraft and defense items.

Economists were expecting a decline, but only 2.9 percent. Orders for non-defense capital goods was a rare bright spot in the report, edging ahead by 0.2 percent in March.

* The Labor Department reported that initial filings for jobless benefits dropped by 16,000 to 339,000 in the week ended April 20, marking a six-week low and taking the pace back down near levels last seen in January 2008. Economists predicted only a tepid decline to 351,000 new filings. While the report indicated that the labor market is improving, the agency also warned that this is a particularly volatile time of year due to vacations and the Easter holiday. The volatility is expected to be waning now that those things are past.

Meanwhile the four-week moving average, a less volatile measure of job trends, dropped 4,500 to 362,000.

* The Commerce Department said that the U.S. economy grew less that economists expected in the first quarter with only 2.5 percent growth in gross domestic product, compared to the 3.0 percent economist thought. The first quarter was still far better than the meager 0.4 percent growth in the fourth quarter. Consumer spending, which accounts for about two-thirds of GDP, expanded 3.2 percent during the first three months of 2013. The bad part is that Americans spent more by saving less; not a move that bodes well for future GDP. Household savings during the quarter declined from 4.7 percent at the end of 2012 to 2.6 percent in the first quarter of 2013.

This week, data in the States will include Personal Income and Outlays on Monday; ISM Manufacturing Index and FOMC Meeting announcement on Wednesday; International Trade and Initial Jobless Claims on Thursday; and the latest report on the Employment Situation on Friday.

Technical Penny Stocks to Watch & Company Spotlight Results:

Amongst our “Daily Technical Penny Stocks to Watch,” our biggest mover was Ballard Power Systems Inc. (TSX:BLD), which was presented on the prior Friday at 86 cents to open the latest week. Shares promptly rose, hitting a high of 96.5 cents for gains of 12.23 percent and held most of the gains throughout the rest of the week.

The Month at a Glance – April With only two trading days left in April, it`s still a bit of a toss-up as to how the US markets will be ending the month with each of the major indexes up less than one percent at this point. The Canadian markets are looking to craft another red month in April, shy of a massive two-day move.

The month started rough with the first week of April being dominated by pressures from the labor market that sent the S&P 500 and Nasdaq to their (at that time) worst weeks of the year and the TSX Composite into the red for all of 2013. The culprit was a report from the Labor Department showing that the U.S. created only 88,000 jobs in March, far below the 193,000 that economists predicted. The nation`s unemployment rate eked down from 7.7 percent in February to 7.6 percent in March, simply because fewer people were looking for a job.

North of the border, Statistics Canada said that the nation shed 54,500 jobs in March, the biggest monthly decline in four years, sending the unemployment rate from 7.0 percent in February up to 7.2 percent in March.

After the ho-hum start to the month, stock in the US galloped ahead to make new record highs on the start of the earnings season and generally beating analysts expectations which took precedent over sobering retail sales data. The Dow Jones Industrial Average and S&P 500 both set new all-time highs while the tech-heavy Nasdaq hit its highest level since November 2000 by printing over 3,000.

Unfortunately for the Canadian markets, a sell-off was beginning in commodities that struck the markets. In reality, the slide in commodities that week was just the start, as a third week brought about a historic-type of sell-off upon data from China.

Imports in China surged in March, swinging the world`s second biggest economy into a trade deficit of $880 million, surprising economists and showing that the country`s efforts to bolster domestic consumption are working. More importantly, the country reported in the third week of April that its economy grew by 7.7 percent in the first quarter, below estimates of 8.0 percent expansion. This news sent commodities into a death spiral. The most actively traded gold futures were hit with their largest one-day percentage drop since February 1983 and the largest dollar drop since January 1980, dragging other commodities right along with them.

Equities also fell upon the Chinese GDP news. All five major indexes dropped more than 2 percent, including the smaller TSX-Venture exchange dropping more than 8 percent.

The markets were also impacted by a terrorist bombing at the finish line of the Boston Marathon that killed three people and injured hundreds more. The bombing was pinned to two radical Muslim brothers, Tamerlan adn Dzhokhar Tsaraev, with Tamerlan shot and killed in a gunfight with police and his brother now in custody.

The US Federal Reserve delivered the minutes of its March 19-20 meeting showing that most of the board members favored continuing the $85-billion-per-month bond buying stimulus package until solid improvements in the economy are sustained, although the minutes also detailed other members being deeply concerned about the long-term impact of continuing the money-printing process. The minutes were released with some chaos as the central bank admitted to sending the minutes out to some Capitol Hill members and leading financial institutions a day early. In an attempt to compensate for the screw-up, the minutes were released early Wednesday morning, rather than in the afternoon as is customary.

It was a month of commitment to stimulus globally to try and spur economic growth. The Bank of Japan made big news globally by reporting that it is doubling its monetary easing efforts over the next two years, promising a $1.4-trillion bond-buying stimulus with intentions to double it to $2.9 trillion by 2014. The Bank of England left its interest rates at 0.5 percent and pledged to continue its asset purchasing program. The European Central Bank kept its rate unchanged at 0.75 percent, but president Mario Draghi dropped hints early in the month that some things may be changing to try and kickstart the EU economy. As mentioned above, investors are thinking that there is a rate cut coming and perhaps more stimulus action in the first week of May.

The Bank of Canada in April kept its key overnight interest rate at 1 percent, as expected. The rate has been steady at that level for nearly three years. The central bank said that it expects core inflation to remain low in coming quarters and that it isn`t expected to climb to 2 percent until mid-2015. Further, BoC slashed its 2013 economic growth outlook from 2 percent to 1.5 percent.

Central banks across the globe are doing what they can to stimulate economies. Investors are taking the efforts with a smile and as a reason to push the US markets higher and higher, as demonstrated so far in April as continuation of a solid five-month run which has seen the Dow rise about 2,300 points in that time. Economic data from both the US and Canada has been somewhat hit or miss, but generally taken in stride no matter what the data says about the economy. Pullbacks on negative data such as the March unemployment report and Chinese GDP info has been largely treated as a “buy the dip.”As mentioned above, the unemployment report coming this week could be a key market driver to delineate whether or not investors are starting to read the market rally as getting a bit overextended.

It`s going to be an interesting May…

Monthly Indices Results:

* S&P TSX Composite: down 4.15% (-529.70 pts.) * TSX-Venture: down 12.17% (-133.78 pts.) * Dow Jones Industrial Average: up 0.92% (+134.01 pts.) * S&P 500: up 0.83% (+13.05 pts.) * NASDAQ: up 0.36% (+11.74 pts.) Monthly Equity Market Snapshot:

(All percentages on a monthly basis unless otherwise noted) * Shares of Apple (NASDAQ:AAPL, -4.40%) have been hit hard in April and continue the downward path of the tech giant as Goldman Sachs removed the company from its “conviction buy” list and lowered its price target to $575 from$600. Apple is also facing pressure from South Korea, where Samsung Electronics(Pink Sheets:SSNLF, -2.12%) said it expects to post first-quarter sales and earnings that exceed expectations on the back of Galaxy S4 smartphone sales.

* Barrick Gold (TSX:ABX, -36.96%) plunged on news of a construction halt at its massive Pascua-Lama mine straddling the border of Chile and Argentina, sending the stock price to the lowest levels in more than 10 years. Rubbing salt in the wound, the company has lost its position as the world`s biggest miner by market capitalization and has now been placed under review by Moody`s Investors Service for a potential ratings downgrade. The Pascua-Lama gold project has already taken longer than expected to complete and gone way over on budget from original projections of $3 billion in costs to new estimates of $8.5 billion. When completed, Pascua-Lama will be one of the largest gold mines in the world and production expected to be about 850,000 ounces annually.

* The US Department of Justice gave its blessing to the second biggest beer industry merger in history. Anheuser-Busch InBev (NYSE:BUD, -3.64%) reached a settlement to allow its $20.1-billion merger with Grupo Modelo S.A.B. de C.V., the owner of Corona brand and other beer, now that the deal shows that BUD won`t have an unfair control of US markets. Per the deal, Constellation Brands (NYSE:STZ, +0.31%) will buy from Modelo the complete U.S. business, including brands and breweries as well as its interest in Crown Imports LLC, making Constellation Brands, one of the world`s biggest wine importers, the third largest beer producer in the US. Constellation had to agree to bolster production at Modelo`s Piedras Negras brewery in order to ensure viable competition in the States. In turn, BUD now gets access to the Mexican and Latin America markets that it sought.

* Some companies making their public debuts in April included SeaWorld Entertainment Inc.’s (NYSE:SEAS), which rose from a debut price of $27 per share to wrap last week at $32.32, and Fairway Group Holdings (NASDAQ:FWM), the parent of Fairway Market, opening at $13 per share and concluding the last full week of April at $17.18.

* After Germany-based Merz Pharma Group topped Valeant Pharmaceuticals (NYSE:VRX, -2.48%) offer to buy Obagi Medical Products (NASDAQ:OMPI, +21.42%) for $19.75 per share with a bid of $22 per share, Valeant countered with a new offer of $24 in cash per share.

The latest Valeant offer values Obagi at $418 million.

* Scott London, a partner in accounting firm KPMG, was accused on insider trading activities, including passing on information to a golf buddy in exchange for cash and other favors. Upon the news, KPMG resigned as the auditor for Herbalife (NYSE:HLF, +2.19%) and Skechers USA Inc. (NYSE:SKX, -1.32%). London, who was promptly fired at KPMG, is facing charges from both the SEC and FBI.

* Shares of Vertex Pharmaceuticals Inc.’s (NASDAQ:VRTX, +53.57%) skyrocketed upon upgrades and news that its phase 2 clinical trials of VX-661 and ivacaftor showed a statistical improvement in lung function of patients with cystic fibrosis, a deadly disease that attacks the lungs, pancreas, liver and intestines.

* Struggling retailer JC Penny Co. (NYSE:JCP, +12.51%) said that CEO Ron Johnson was resigning and ex-CEO Mike Ulman was appointed to once again take the role of top executive. Shares of JCP hit their lowest level in 12 years as investors mulled the board`s decision before rebounding last week (see news above).

* Carnival Corp. (NYSE:CCL, +0.47%) reported that its Triumph cruise liner broke free from its mooring line in Mobile, Alabama where its been docked since suffering an engine room fire in February, and drifted across the river it was in.

* Internet radio company Pandora Media Inc. (NYSE:P, -0.99%) said that it reached 200 million registered listeners and streamed 1.5 billion hours of music in March.

* Shares of First Solar Inc. (NASDAQ:FSLR, +63.50%) soared ahead after issuing an upbeat outlook for 2013 estimating earnings between $4 and $4.50 per share and net sales around $4 billion. Analysts were only expecting EPS of $3.60 on revenue of $3.17 billion. Shares were running so fast on the news that they triggered Nasdaq circuit breakers several times.

* Google (NASDAQ:GOOG, +0.91%) advanced after reporting first-quarter revenue rose to almost $14 billion, in line with Wall Street expectations, but crushed estimates by reporting net income of $3.9 billion, or $11.58 per share. Optimism was tempered somewhat by the search beast still searching for ways to establish a a better means of capitalizing on mobile ads and its Motorola smartphone unit as people shift away from desktop computers and a lawsuit in Europe regarding the company using unfair business practices.

* In some big merger news, Dish Network Corp. (NASDAQ:DISH, +5.51%) said it is willing to pay $25.5 billion to buy Sprint Nextel (NYSE:S, +14.65%), an offer that outstrips the agreement between Sprint and Japan`s Softbank in which SoftBank was trying to buy 70 percent of Sprint in a deal valued at $20 billion.

* Also on the merger front, Thermo Fisher Scientific Inc. (NYSE:TMO, +6.07%) said it penned an agreement to buy gene sequencing and DNA analysis researcher company Life Technologies Corp. (NASDAQ:LIFE, +14.10%) for $76 per share, in a deal worth $15.8 billion, including $2.2 billion of debt. Life Technologies has been looking to sell itself for the past few months. The Thermo offer tops a $65 per share deal offered by a consortium of private equity firms.

* Automakers reported strong sales in March, some posting record monthly performances, although analysts were widely predicting big gains, so gains were moderated. Ford (NYSE:F, +3.95%) said sales were up 5.7 percent to 236,160 units in March. It was the best month since May 2007. Sales at General Motors (NYSE:GM, +9.63%) increased 6.4 percent to 245,950 units, its best results in five years.

Monthly Penny Stocks To Watch Leaders:

Among our daily technical stocks to watch each day, it was another strong month with every pick producing gains of some type. The biggest play for the month was CardioComm Solutions Inc. (TSX-Venture:EKG), which was presented on April 1 when shares were trading at 22 cents.

This stock was no April Fool, rising upward quickly to hit a high of 28 cents, representing gains of 6 cents per share, or 27.27 percent.

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