Stocks Slide to Start September

September has historically been one of the weaker and more volatile months of the year for equity markets. This morning finds traders heading for the exits with NASDAQ futures down 1.2% and S&P futures down 0.9%. Over in Europe, the Dax is down 1.6% and the FTSE is down 0.6%.

Late last week, a US court struck down President Trump’s tariff program – a ruling he plans to appeal to the Supreme Court. On the interim, questions over whether trade deals may need to be renegotiated or whether tariffs may need to be refunded appears to be impacting sentiment. US bonds have been selling off on this news, sparking a rally in the US Dollar, and sending other major currencies downward; including losses of 1.0% for the Yen, 0.6% for the Pound and Euro, and 0.3% for the Loonie. President Trump speaks at 2:00 pm EDT today which may shed more light on the situation.

An apparent flight to safety has Gold rallying 1.1% to a new all-time high near $3,550/oz, and Silver climbing 1.7% to trade above $40.00/oz. Increasing hostilities between Russia and Ukraine has sparked a 2.6% rally in Crude Oil. Copper is down 0.4%.

Overseas Manufacturing PMI reports released yesterday were generally better than expected, with the exception of Japan who disappointed. Canada Manufacturing PMI (previous 46.1) is due at 9:30 am EDT, followed by US ISM Manufacturing PMI (Street 49.0) and US construction spending (street 0.2%) at 10:00 am.  Employment numbers for the US and Canada are due on Thursday and Friday.

Share:

Read More:

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.