Stocks Rebound In The Wake Of Mixed Economic Data

Clawing back most of yesterday’s US index losses of 1.25%-1.50%, US index futures are up 0.6%-1.0% this morning. Major European indices are down across the board with the Dax, CAC, FTSE and MIB falling 0.4%-0.6%.

Commodity action is mixed this morning. Natural Gas is up 1.4% ahead of the weekly storage report due at 10:30 am EST (street -80 BCF). Crude Oil is down 1.0% following yesterday’s surprise weekly US inventory build. Copper is down 0.1%. In currency action, Gold is steady, while Bitcoin is up 1.0%. The Aussie Dollar and Yen are leading the majors with gains of 0.5% each, while the Euro is up 0.3%. The Loonie is up 0.1% along with Cable.

Canadian retail sales (0.7% vs street 0.8% and previous 0.5%) increased slightly less than expected. Weekly US jobless claims were better than expected (205K vs street 215K). US Q3 GDP was revised downward (4.9% vs previous 5.2%). The Philadelphia Fed Manufacturing Survey worsened more than feared (-10.5 vs street -3.0 and previous -5.9).

After the close today, Nike releases the last notable earnings report of the year. Tomorrow the final big flurry of data is out including Canada monthly GDP, UK retail sales, and US Core PCE inflation, Durable Goods Orders, New Home Sales and Consumer Sentiment.

Terms and Conditions:


This information is for Investment Advisors only. The website is for informational purposes only and is not intended to provide a complete description of SIA Wealth Management’s products or services. Past performance is not indicative of future results. It should not be construed as investment advice or relied upon in making an investment decision. Products and services of SIA Wealth Management are only offered in jurisdictions where they may be lawfully offered for sale. The information contained in this Website does not constitute an offer or solicitation by anyone to buy or sell any investment fund or other product, service or information to anyone in any jurisdiction in which an offer or solicitation is not authorized or cannot be legally made or to any person to whom it is unlawful to make an offer of solicitation. All products and services are subject to the terms of each and every applicable agreement. It is important to note that not all products, services and information are available in all jurisdictions outside Canada.

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. SIA Wealth Management Inc. 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.