Morning Minutes 11/26/2020

Morning Minutes

Stocks Hold Steady With US Markets Closed  

November 26, 2020

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

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 today’s Thanksgiving holiday and tomorrow’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:

https://www.bnnbloomberg.ca/video/less-presidential-election-risks-cause-market-rally-chief-market-strategist~2083958

 

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 team’s site. https://ca.movember.com/team/2383675

 

Best Regards, Jeremy Fehr and the Motacular Moustaches team.

Disclaimer: SIA Wealth Management Inc. (SIAWM) specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investor’s investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIAWM nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.