Stocks Build on Monday Gains

The trading week got off to a strong start yesterday with US indices gaining 1.3%-2.1%. Overnight trading saw markets in China and Japan climb 0.6%-1.0%, and in Europe this morning, the DAX is up 0.7% and the FTSE is up 0.4%. The US Dollar is strengthening, sending the Euro and Loonie down 0.2% and Gold down 0.6%. Commodities are also weakening with Crude Oil down 1.0% and Copper down 0.4%. US index futures are up 0.2%-0.4%.

Service PMI reports are out from Europe this morning, with nearly everyone exceeding expectations and/or coming in above 50 in expansion territory. US ISM Non-Manufacturing PMI (street 55.2) is due at 10:00 am EDT. Canada job numbers are due on Friday. On Thursday, the Bank of England is widely expected to announce a 0.25% interest rate cut. China trade and inflation numbers are expected later in the week.

The heart of earnings season continues this week with the focus turning from the mega caps to not quite as large, medium, and small cap companies. Stocks continue to stage significant moves off of earnings numbers with Palantir Technologies* up 7.1% and Pfizer up 2.4% in premarket trading off of strong results and guidance while Caterpillar is steady premarket and Mercadolibre is down 5.3% after posting disappointing numbers.

Later today in the US, results are due from AMD. Tomorrow’s headliners include McDonalds, Disney, Uber, Doordash and AirBnb. In Canada today results are on the way from Suncor Energy, Great West Lifeco and others, followed by Shopify, Thomson Reuters, Manulife Financial and Nutrien Wednesday, Sun Life on Thursday and Constellation Software* on Friday.

*Shares of Palantir Technologies and Constellation Software are held in portfolios held 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.