Two Central Banks and a Bunch of Earnings

It’s central bank decision day in North America. At 9:45 am EDT, the Bank of Canada is expected to announce a 0.25% interest rate cut to 2.25%. At 2:00 pm today, the Federal Reserve Board is widely expected to announce a 0.25% interest rate cut to 4.00%. In addition to the interest rate news, investors may also look for any announcements or hints related to the Fed’s Quantitative Tightening program, the state of the economy, and the future of monetary policy.  Currently, the US 10-year treasury note yield is sitting just below 4.00%.

US index futures are up 0.2%-0.5%, with the NASDAQ leading the way upward, building on yesterday’s US index gains of 0.3%-0.8%. Overnight, the Nikkei added to a recent breakout over 50,000 with a 2.2% gain. In Europe today, the DAX is down 0.1% and the FTSE is up 0.7%. Precious metals are bouncing back today, with Gold up 1.2% and Silver up 1.8%. Copper is up 0.7%. Energy action is mixed with Crude Oil up 0.4% but Natural Gas down 4.5%.

Today is also a big day for earnings reports. Overnight and this morning, Caterpillar* (up 4.6% premarket), Gildan, Visa and Booking Holdings all beat Street expectations. Tech giants Microsoft, Alphabet* and Meta Platforms report after the close today, along with Canadian Pacific and Agnico-Eagle Mines*.

*Shares of Caterpillar, Agnico-Eagle Mines, and Alphabet are held in some portfolios managed by SIA Wealth Management.

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.