November 26, 2020
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Market Commentary By:
Colin Cieszynski, CFA, CMT
Chief Market Strategist
+1 (647) 282-4428
As is common on US holidays, stock markets around the world are pretty quiet this morning. Across the pond the Dax is flat while the FTSE is down 0.5%. Asia Pacific trading was also mixed Tokyo climbing 0.9% and Hong Kong rising 0.6% with but Sydney falling 0.7%.
US markets finished Wednesday mixed as some traders took profits ahead of todayâ€™s Thanksgiving holiday and tomorrowâ€™s shortened Black Friday session. The Dow finished back under 30,000 while the NASDAQ was able to hold above 12,000. Among the intraday news on Wednesday, the most significant was the personal income (-0.7% vs street flat and previous 0.7%) and personal spending (0.5% vs street 0.4% and previous 1.2%) which suggested that income and spending growth slowed in October and consumers dipped into their savings as incomes contracted.
Commodity markets are mixed today with WTI and Brent crude oil both falling 1.4%, while copper is up 0.6%. Gold and silver have bounced back a bit, rising 0.2% to 0.4%.
SIA Wealth In The Media
Chief Market Strategist appeared on BNN Bloomberg yesterday afternoon and spoke about recent trends in sector rotation, Dow 30,000 and more. A link to the replay is below:
Support Team SIA Motacular Moustaches This Movember
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 teamâ€™s site. https://ca.movember.com/team/2383675
Best Regards, Jeremy Fehr and the Motacular Moustaches team.
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