Morning Minutes 11/13/2020

Morning Minutes

Markets Are Mixed Amid Medical and Economic Uncertainty

November 13, 2020

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Market Commentary By:
Colin Cieszynski, CFA, CMT
Chief Market Strategist
+1 (647) 282-4428

Another active week for world markets is winding down in mixed fashion as investors weigh long-term optimism that vaccines/treatments could eventually end the COVID pandemic against short-term concern that until solutions can be approved and rolled out the second wave could force full or partial lockdowns in North America this coming winter, just as lockdowns have already been reimposed in many parts of Europe.

US index futures are up 0.6%-0.7% this morning, clawing back much of yesterday’s 0.7%-1.0% losses by major US indices. European action is mixed with the FTSE down 0.6% but the Dax up 0.1%. Asia Pacific markets were generally lower with Tokyo losing 0.5% and Shanghai falling 0.8%. Commodity action is mixed once again with WTI and Brent Crude Oil falling 2.0% and 1.6% respectively, while Copper is up 0.5%. Precious metals are bouncing back a bit with gold up 0.75% and silver up 1.75% but their prices still remain stuck below $1,900/oz ad $25.00/oz respectively.

Overnight earnings reports generally exceeded investor expectations. Cisco Systems is up 7.6% premarket after beating the street on earnings ($0.76 vs street $0.70). Walt Disney is up 3.0% premarket after reporting a smaller than expected loss (-$0.20 vs street -$0.71) and in increase in Disney+ subscribers to 73 million, but it also announced it will not be paying its January dividend with a hope of resuming payments down the road.



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This month, in support of men’s health, SIA team members are participating in the Movember charity fund-raising campaign. Many of us know someone who has fallen ill to prostate or testicular cancer, mental illness or have passed away in recent years and are looking for a way to give back. The funds we help Movember raise will support life-changing services for mental health, innovative research, and scientific breakthroughs for cancer care. We know it has been a difficult year for everyone; if you are interested and able to support the cause this year, please click on the link below to access our team’s site.


Best Regards, Jeremy Fehr and the Motacular Moustaches team.

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