Earnings Reports Dominate Business News

US index futures are trading flat to up 0.3% with NASDAQ futures leading the way, essentially evening out yesterday’s US index performance of flat to up 0.3% where the Dow Industrials were the leader. Major European indices are in the red across the board with the FTSE falling 0.3% and the Dax down 0.2%.Now that we have moved into the back half of earnings season, there are a larger number of reports, but each individual report has less of an impact on the broader market and more of an impact on the individual company’s stock or its sector. Recall last Friday social media giant Meta Platforms* staged a big rally on earnings. Today, competitor Snap has plunged 30.1% in premarket action after beating the street on earnings but missing on sales and putting out weaker than expected guidance.There also is mixed action in the restaurant sector following earnings reports with Chipotle Mexican Group* ($10.36 vs street $9.71, up 2.6% premarket) and Yum Brands ($1.26 vs street $1.40) down 1.8% premarket) heading in opposite directions. Other companies with earnings out include Ford (up 5.6% premarket), Hilton ($1.68 vs street $1.57), and Uber Technologies* ($0.66 vs street $0.16). Walt Disney and Paypal report in the US after the close today, followed by ConocoPhillips tomorrow morning. In Canada, Sun Life reports after the close today, followed by BCE, Bombardier, Thomson Reuters*, Cineplex, and Lightspeed Commerce* tomorrow. US Crude Oil is up 0.6% this morning after API reported a smaller than expected build in its weekly US oil inventory report. Weekly DOE energy inventories are due at 10:30 am EST. Natural Gas, Copper and Gold are all essentially flat trading between -0.1% and +0.1%.It’s a quieter week for economic news, particularly for the US. Today there are three Fed speakers plus US and Canada trade data, tomorrow is headlined by Chinese inflation numbers ahead of Friday’s Lunar New Year holiday when Canadian employment data comes out.

*Shares of Meta Platforms, Uber Technologies, Thomson Reuters, Lightspeed Commerce, and Chipotle Mexican Grill are held in some portfolios managed by SIA Wealth Management.

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.