Morning Minutes 09/11/2018

Morning Minutes

Trade Tensions Crush Commodities

September 11, 2018
9:45 am EDT

At SIA Wealth Management everything we do is based on Relative Strength Analysis. We evaluate the Relative Strength between asset classes giving us insight into money flows on a large scale, and from this select top ranked investments.

Market Commentary By:
Colin Cieszynski, CFA, CMT
Chief Market Strategist
ccieszynski@siawm.com
+1 (647) 282-4428

North American stock markets are trading lower this morning with the S&P 500 down 0.3% and the S&P/TSX Composite down 0.5%. Corporate news flow remains light, keeping investors focused on trade uncertainty. Reports circulated overnight that China is looking to reach out to the World Trade Organization for support in its trade battle with the US. With trade tensions ratcheting upward, commodities are under pressure today including copper down 14%, silver down 1.6% and wheat down 1.9%.

Canadian housing starts were reported at an annualized 201K short of the 210K street estimate. Trade talks between the US and Canada, which have cast a cloud of uncertainty over the Canadian economy are expected to resume today. Later today, earnings are expected from Hudson’s Bay Company followed by Roots tomorrow.

In currency action, gold continues to fall away from $1,200/oz down another 0.6% today. The US Dollar is up slightly as investors await Thursday’s Bank of England and European Central Bank meetings.

Thursday Webinar Announcement:
SIA Charts will be hosting its monthly webinar on Thursday September 13th at 1:00 pm EDT which will include comments on the market from Chief Market Strategist Colin Cieszynski and information on our new Relative Strength Spotlights from Paul Kornfeld, President of SIA Charts.

On this call we will also hear from Ted Bader, President of SIA Wealth about the 2 Funds SIA Wealth runs, specifically focusing on the strong performance of the US tactical pool as well as an update on the Tactical Market Neutral Pool.

Click on the link below to register for the event and receive the call-in details.

https://register.gotowebinar.com/rt/290617808385466115

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