The air of panic that permeated much of North American markets over the summer gave way to optimistic economic vibes in the last week before the Labour Day weekend. Accordingly, those vibes turned the air fresh, and investors breathed it in and went on a buying spree.

The S&P TSX Composite Index was one beneficiary of these positive sentiments, gaining 265.20 points or 2.2% on the week, to 12,144.92. The TSX Venture Exchange fared even better, gaining 77.11 points or 5.2% on the week to 1,565.96.

In contrast to their American brethren, both Toronto stock indices gained on the previous month. The TSX index tacked on 200 points or 1.7% during August, while the Venture advanced more than 72 points or more than 5%.

In the States, for the first time since early August, the Dow Jones Industrial index was a winner on the week, garnering 297.28 points or 2.9% to 10,447.93. The S&P 500 index grew 39.92 points or 3.7% to 1,104.51. The tech-rich Nasdaq composite index bounced 80.12 points on the week, or 3.7% to 2,233.75.

Over August, though, all three major American indices got bruised; the Dow took a pounding of 451 points or 4.3%, while the S&P 500 was tagged for 52 points or 4.7%, and the Nasdaq took it on the chin 140 points or 6.2%.

Economically speaking, Monday, a U.S. government report showed that personal income rose 0.2% in July, in line with expectations. The report said consumer spending outpaced income growth, rising 0.4% in July. Economists surveyed by Briefing.com were expecting spending to rise 0.3% during the month, after a 0.1% rise the month before.

Statistics Canada reported Tuesday that the Canadian economy continued to grow in the second quarter but at a much slower pace from the January-March period. The agency said Tuesday that the Gross Domestic Product grew at an annualized rate of 2% after expanding by 5.8% in the first quarter.

Wednesday, the U.S. Institute for Supply Management's (ISM) said its index of manufacturing activity rose to 56.3 in August. Economists were expecting the index to fall slightly from July's number of 55.5. Any number above 50 indicates growth in the sector.

Thursday, U.S. pending home sales, a forward-looking gauge, rose 5.2% over the previous month, in July, but dipped over 19% from July 2009.

Separately, Washington said factory orders rose 0.1% in July, versus a forecast 0.3% gain. But the Commerce Department said orders fell 0.6% in June, an improvement over the originally reported 1.5% drop.

Finally, Friday brought with it job figures from the U.S., which at least supplied sufficient relief as they were less awful than forecast. The U.S. economy lost 54,000 in August, less than the 131,000 jobs shed in July, and also fewer than the 121,000 positions cut in August. Still, the jobless rate ticked up to 9.6%, one-10th of a percentage point higher than in July, as more unemployed people decided to start hunting for work again.

Over a short economic week following Labour Day, look for building permits to roll into Canada on Wednesday, merchandise exports and new housing prices on Thursday, and jobs on Friday.

In the States, consumer credit figures are announced on Wednesday, initial jobless claims on Thursday, while America’s trade balance comes on Thursday.

The past week was also rife with talk about possible mergers and acquisitions. Burger King said Thursday that it had agreed to be bought by investment firm 3G Capital in a deal valued at $4 billion U.S.

Also, HP raised its offer to buy data storage company 3PAR to $33 U.S. per share, topping a $32 U.S. bid from Dell. The computer rivals have been engaged in a bidding war for 3PAR since the latter part of August.

Among the stocks we featured this past week, American Consolidated Minerals Corp. (TSX-Venture:AJC) picked up two cents, or 10%, to 22 cents, after hitting an intraday high of 24 cents during the week.

Fellow Canadian-based company Coral Gold Resources Ltd. (TSX-Venture:CLH) staged a six-cent climb, or 18.2%, to 39 cents, having peaked during the week at 39.5.

In the States, Ecosphere Technologies Inc. (OTCBB:ESPH) skidded 2.5 cents, or 3.5% to 68.5 cents, despite a midweek peak of 72.5 cents.

However, digital media network up-and-comer Players Network (OTCBB:PNTV) came up nuggets with an improvement of 2.5 cents or 13.2% to 21.5 cents, even going so high as 22.9 cents during the week.

If you’d invested in all four stocks and held them to the end, you’d have seen an average gain of 9.5%. However, if you’d bought at the beginning of the week and sold each at its peak, your gain would have averaged 15.6%.

Next week, look for good things from energy hopeful Bridge Resources Corp. (TSX-Venture:BUK) and laser imaging company Isee3d Inc. (TSX-Venture:ICT).

In the States, we spotlight health-care up-and-comer Sinobiopharma Inc. (OTCBB:SNBP) and San West Inc. (OTCBB:SNWT), maker of ATVs and off-road buggies.

Looking at our Company spotlights for a moment, a Company we continue to focus on, Car Charging Group, Inc. (OTCBB:CCGI), announced a strategic partnership to incorporate electric vehicle (EV) charging stations into both existing projects as well as future design offerings of Kobi Karp Architecture & Interior Design (KKAID).

Kobi Karp is a Miami architect who is the principal and founder of Kobi Karp Architecture & Interior Design, Inc. (KKAID), linked to the design of large-scale, high-rise condominium and hospitality projects to intimate, small-scale low-rise residential and commercial structures. International since 1988, KKAID expanded their architectural and interior design services to new luxury clients, with some recent project locations include; Abu Dhabi, Dubai, Sochi, Cancun, Romania, Grenada, Russia, Mexico and Asia.

Another previously spotlighted Company, MagneGas Corp, (OTCBB:MNGA), announced on Wednesday that it has shipped the China Refinery to purchaser DDI, satisfying all terms of the sale. The Company has accordingly now received the final payment of $855,000, pursuant to the agreement entered into on January 29, 2010.

"We have executed shipment of the China Refinery precisely according to schedule, and are pleased to announce another important revenue event for MagneGas," stated MagneGas President Richard Connelly. "In addition to the immediate financial benefit to the Company, this milestone also has significant long-term importance. With its Refinery in-hand, DDI will be able to demonstrate the Technology in the China market and begin to capitalize on anticipated demand. DDI has already established a world class manufacturing facility, and awaits only this Refinery as the catalyst for market launch. As 20% owners of this joint venture we look forward to sharing in future China successes."

Lastly, a Company that we spotlighted just a few days ago has not been going in the direction that was hoped. Kore Nutrition Inc. (OTCBB:KORE) has taken a hit this week straight out of the gate, even though fundamentally is still looking quite strong and the selling pressure may make way for a bullish bounceback as there was no reason for the drop this week. Kore, through its wholly-owned subsidiary, ALL IN, is engaged in the business of developing, producing, and selling non-alcoholic beverages. It produces premium energy drinks and an enhanced purified water under the brand name, ALL IN(TM) Energy, to suit the demands of an active world. The Company announced on Thursday the establishment of their new Asian Licensee, ALL IN Asia.

ALL IN Asia is headed by Mr. Desmond Liew, an experienced and highly capable marketing and distribution expert in Asia. ALL IN Asia will manage the rollout of ALL IN Energy products throughout the important markets of Mainland China, Hong Kong, and Korea initially, then expand distribution throughout the rest of this region over time.

The Asia Pacific region accounts for an estimated 30% of worldwide energy drink consumption. According to Zenith International, the worldwide beverage consumption analytical firm, annual beverage consumption growth projections through 2010 in Asia will be, on average, 12% - 14%, and projected to continue at this level through 2015.

We encourage our investors to keep an eye on trading in KORE to watch for a possible bounce next week after this week's unexplained price drop.